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REGISTERED NUMBER: 04956687 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DECLAN CARROLL RACING LIMITED

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DECLAN CARROLL RACING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: D C Carroll





SECRETARY: D Carroll





REGISTERED OFFICE: 2 Barley Close
Norton
Malton
North Yorkshire
YO17 9EP





REGISTERED NUMBER: 04956687 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 9,000 13,500
Tangible assets 5 97,601 54,815
106,601 68,315

CURRENT ASSETS
Stocks 19,229 9,404
Debtors 6 103,653 120,981
Cash at bank 80,487 130,707
203,369 261,092
CREDITORS
Amounts falling due within one year 7 96,819 120,227
NET CURRENT ASSETS 106,550 140,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

213,151

209,180

CREDITORS
Amounts falling due after more than one
year

8

(5,000

)

(15,000

)

PROVISIONS FOR LIABILITIES (20,627 ) (12,639 )
NET ASSETS 187,524 181,541

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 187,424 181,441
SHAREHOLDERS' FUNDS 187,524 181,541

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.

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 May 2025 and were signed by:





D C Carroll - Director


DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Declan Carroll 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 represents race horse training income excluding discounts, rebates, value added tax and other taxes. Turnover is recognised when services are provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten 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.
Freehold property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% 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 Statement of Income and Retained Earnings, 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.

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of income and retained earnings over the period to which they relate.

Pension costs and other post-retirement benefits
The company has implemented auto-enrolment pension in respect of all employees. Contributions are charged to the statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 45,000
AMORTISATION
At 1 January 2024 31,500
Charge for year 4,500
At 31 December 2024 36,000
NET BOOK VALUE
At 31 December 2024 9,000
At 31 December 2023 13,500

DECLAN CARROLL RACING LIMITED (REGISTERED NUMBER: 04956687)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 30,245 193,125 223,370
Additions - 59,360 59,360
At 31 December 2024 30,245 252,485 282,730
DEPRECIATION
At 1 January 2024 23,129 145,426 168,555
Charge for year 1,509 15,065 16,574
At 31 December 2024 24,638 160,491 185,129
NET BOOK VALUE
At 31 December 2024 5,607 91,994 97,601
At 31 December 2023 7,116 47,699 54,815

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 103,288 111,373
Other debtors 365 9,608
103,653 120,981

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 9,879 9,364
Taxation and social security 41,556 75,327
Other creditors 35,384 25,536
96,819 120,227

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 5,000 15,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary £1 100 100