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REGISTERED NUMBER: 12917339 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Luke Pullen Racing Limited

Luke Pullen Racing Limited (Registered number: 12917339)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Luke Pullen Racing Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: L F W Pullen





REGISTERED OFFICE: 52-54 Winchester Street
Salsibury
Wiltshire
SP1 1HG





REGISTERED NUMBER: 12917339 (England and Wales)





ACCOUNTANTS: Ray Bartlett & Co
Accountants & Taxation Consultants
52-54 Winchester Street
Salisbury
Wiltshire
SP1 1HG

Luke Pullen Racing Limited (Registered number: 12917339)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,715 24,953

CURRENT ASSETS
Debtors 5 298 2,151
Cash at bank 785 83
1,083 2,234
CREDITORS
Amounts falling due within one year 6 38,484 104,939
NET CURRENT LIABILITIES (37,401 ) (102,705 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(18,686

)

(77,752

)

CREDITORS
Amounts falling due after more than one
year

7

92,246

2,938
NET LIABILITIES (110,932 ) (80,690 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 (110,933 ) (80,691 )
SHAREHOLDERS' FUNDS (110,932 ) (80,690 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Luke Pullen Racing Limited (Registered number: 12917339)

Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 April 2025 and were signed by:





L F W Pullen - Director


Luke Pullen Racing Limited (Registered number: 12917339)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Luke Pullen Racing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Luke Pullen Racing Limited (Registered number: 12917339)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 28,299 380 28,679
DEPRECIATION
At 1 October 2023 3,538 188 3,726
Charge for year 6,190 48 6,238
At 30 September 2024 9,728 236 9,964
NET BOOK VALUE
At 30 September 2024 18,571 144 18,715
At 30 September 2023 24,761 192 24,953

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 298 298
VAT - 1,853
298 2,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other loans (see note 8) - 10,000
Hire purchase contracts 860 860
Trade creditors 5,055 19,054
Other creditors - 2,231
VAT 2,818 -
Directors' current accounts 29,126 71,844
Accrued expenses 625 950
38,484 104,939

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Other loans (see note 8) 90,168 -
Hire purchase contracts 2,078 2,938
92,246 2,938

Luke Pullen Racing Limited (Registered number: 12917339)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


8. LOANS

Other loans include a loan from the directors family of £77,606. The family have agreed not to seek repayment for a period of at least 12 months.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Retained
earnings
£   

At 1 October 2023 (80,691 )
Deficit for the year (30,242 )
At 30 September 2024 (110,933 )

Luke Pullen Racing Limited

Report of the Accountants to the Director of
Luke Pullen Racing Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Ray Bartlett & Co
Accountants & Taxation Consultants
52-54 Winchester Street
Salisbury
Wiltshire
SP1 1HG


19 April 2025