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REGISTERED NUMBER: 03482052 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Bike Torque Racing Ltd.

Bike Torque Racing Ltd. (Registered number: 03482052)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bike Torque Racing Ltd.

Company Information
for the Year Ended 31 December 2024







DIRECTOR: F O Manning-Morton





REGISTERED OFFICE: 30 Gay Street
Bath
Avon
BA1 2PA





REGISTERED NUMBER: 03482052 (England and Wales)

Bike Torque Racing Ltd. (Registered number: 03482052)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 69,966 47,203
69,966 47,203

CURRENT ASSETS
Stocks 955,960 964,827
Debtors 6 21,913 7,114
Cash at bank and in hand 713,239 701,423
1,691,112 1,673,364
CREDITORS
Amounts falling due within one year 7 144,964 190,318
NET CURRENT ASSETS 1,546,148 1,483,046
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,616,114

1,530,249

PROVISIONS FOR LIABILITIES 8 10,303 7,183
NET ASSETS 1,605,811 1,523,066

CAPITAL AND RESERVES
Called up share capital 9 17,552 17,552
Retained earnings 1,588,259 1,505,514
SHAREHOLDERS' FUNDS 1,605,811 1,523,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 May 2025 and were signed by:





F O Manning-Morton - Director


Bike Torque Racing Ltd. (Registered number: 03482052)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Bike Torque Racing Ltd. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1997, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Bike Torque Racing Ltd. (Registered number: 03482052)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 15,000
AMORTISATION
At 1 January 2024
and 31 December 2024 15,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 5,386 134,458 56,163 - 196,007
Additions 5,500 1,731 7,500 31,355 46,086
At 31 December 2024 10,886 136,189 63,663 31,355 242,093
DEPRECIATION
At 1 January 2024 2,690 115,944 30,170 - 148,804
Charge for year 2,049 5,062 8,373 7,839 23,323
At 31 December 2024 4,739 121,006 38,543 7,839 172,127
NET BOOK VALUE
At 31 December 2024 6,147 15,183 25,120 23,516 69,966
At 31 December 2023 2,696 18,514 25,993 - 47,203

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,913 5,732
Prepayments - 1,382
21,913 7,114

Bike Torque Racing Ltd. (Registered number: 03482052)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 81,192 72,705
Tax 21,982 27,521
Social security and other taxes 6,659 7,624
VAT 31,755 51,820
Accruals and deferred income 3,376 30,648
144,964 190,318

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,303 7,183

Deferred
tax
£   
Balance at 1 January 2024 7,183
Provided during year 3,120
Balance at 31 December 2024 10,303

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
17,522 Ordinary 1 17,552 17,552

10. ULTIMATE CONTROLLING PARTY

The company has been under the control of the Estate of N H Appleton as of 13/09/2022.