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REGISTERED NUMBER: SC636145 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

RALLYSPORT CONNECTIONS LIMITED

RALLYSPORT CONNECTIONS LIMITED (REGISTERED NUMBER: SC636145)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


RALLYSPORT CONNECTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: D Buckley
Mrs T Buckley





REGISTERED OFFICE: Hunters Hall
Kelso
Roxburghshire
TD5 8BH





REGISTERED NUMBER: SC636145 (Scotland)





ACCOUNTANTS: J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RALLYSPORT CONNECTIONS LIMITED

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rallysport Connections Limited for the year ended 31 August 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rallysport Connections Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rallysport Connections Limited and state those matters that we have agreed to state to the Board of Directors of Rallysport Connections Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rallysport Connections Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rallysport Connections Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rallysport Connections Limited. You consider that Rallysport Connections Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rallysport Connections Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP


26 May 2025

RALLYSPORT CONNECTIONS LIMITED (REGISTERED NUMBER: SC636145)

BALANCE SHEET
31 AUGUST 2024

31/8/24 31/8/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,070,031 844,254

CURRENT ASSETS
Stocks 320,333 254,940
Debtors 5 133,816 242,862
Cash at bank 14,006 4,217
468,155 502,019
CREDITORS
Amounts falling due within one year 6 995,586 994,110
NET CURRENT LIABILITIES (527,431 ) (492,091 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

542,600

352,163

CREDITORS
Amounts falling due after more than one year 7 (23,538 ) (55,872 )

PROVISIONS FOR LIABILITIES (198,204 ) (151,415 )
NET ASSETS 320,858 144,876

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 320,758 144,776
320,858 144,876

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

RALLYSPORT CONNECTIONS LIMITED (REGISTERED NUMBER: SC636145)

BALANCE SHEET - continued
31 AUGUST 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2025 and were signed on its behalf by:





Mrs T Buckley - Director


RALLYSPORT CONNECTIONS LIMITED (REGISTERED NUMBER: SC636145)

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

1. STATUTORY INFORMATION

Rallysport Connections Limited is a private company, limited by shares , registered in Scotland. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 10 years
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Office Equipment - Straight line over 4 years

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

RALLYSPORT CONNECTIONS LIMITED (REGISTERED NUMBER: SC636145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Office
property machinery vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 53,707 154,814 851,912 2,447 1,062,880
Additions - 2,055 650,128 1,263 653,446
Disposals - - (379,555 ) - (379,555 )
At 31 August 2024 53,707 156,869 1,122,485 3,710 1,336,771
DEPRECIATION
At 1 September 2023 21,483 39,191 156,611 1,341 218,626
Charge for year 5,370 17,629 121,725 623 145,347
Eliminated on disposal - - (97,233 ) - (97,233 )
At 31 August 2024 26,853 56,820 181,103 1,964 266,740
NET BOOK VALUE
At 31 August 2024 26,854 100,049 941,382 1,746 1,070,031
At 31 August 2023 32,224 115,623 695,301 1,106 844,254

RALLYSPORT CONNECTIONS LIMITED (REGISTERED NUMBER: SC636145)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 85,000 76,616 161,616
DEPRECIATION
At 1 September 2023 8,488 36,263 44,751
Charge for year 11,477 4,036 15,513
At 31 August 2024 19,965 40,299 60,264
NET BOOK VALUE
At 31 August 2024 65,035 36,317 101,352
At 31 August 2023 76,512 40,353 116,865

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Trade debtors 133,816 242,862

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans and overdrafts - 16,735
Hire purchase contracts 22,333 32,750
Payments on account 9,979 -
Trade creditors 319,070 286,612
Taxation and social security 112,437 132,655
Other creditors 531,767 525,358
995,586 994,110

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Bank loans 17,500 27,500
Hire purchase contracts 6,038 28,372
23,538 55,872

RALLYSPORT CONNECTIONS LIMITED (REGISTERED NUMBER: SC636145)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31/8/24 31/8/23
£    £   
Bank overdraft - 16,735

Bank of Scotland hold a Floating Charge over the assets of the company in support of the Overdraft Facility.