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HALE RACING LIMITED

Registered Number
04360717
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2025

HALE RACING LIMITED
Company Information
for the year from 1 February 2024 to 31 January 2025

Directors

HALE, Richard Andrew
HALE, Sarah

Company Secretary

HALE, Sarah

Registered Address

Inglenook Barn
Culgaith
Penrith
CA10 1QL

Registered Number

04360717 (England and Wales)
HALE RACING LIMITED
Statement of Financial Position
31 January 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3505,391473,913
Investments411,00021,450
516,391495,363
Current assets
Debtors22,07619,178
Cash at bank and on hand25,2464,746
47,32223,924
Creditors amounts falling due within one year5(122,144)(81,600)
Net current assets (liabilities)(74,822)(57,676)
Total assets less current liabilities441,569437,687
Provisions for liabilities6(12,800)(3,600)
Net assets428,769434,087
Capital and reserves
Called up share capital1,0001,000
Profit and loss account427,769433,087
Shareholders' funds428,769434,087
The financial statements were approved and authorised for issue by the Board of Directors on 6 June 2025, and are signed on its behalf by:
HALE, Richard Andrew
Director
Registered Company No. 04360717
HALE RACING LIMITED
Notes to the Financial Statements
for the year ended 31 January 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery25-
Vehicles25-
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20252024
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 February 24519,773268,45824,588812,819
Additions--44,99544,995
Disposals--(24,588)(24,588)
At 31 January 25519,773268,45844,995833,226
Depreciation and impairment
At 01 February 2460,827255,95722,122338,906
Charge for year5,1133,1252,81311,051
On disposals--(22,122)(22,122)
At 31 January 2565,940259,0822,813327,835
Net book value
At 31 January 25453,8339,37642,182505,391
At 31 January 24458,94612,5012,466473,913
4.Fixed asset investments
Investments - race horses

Other investments1

Total

££
Cost or valuation
At 01 February 2421,45021,450
Revaluations(10,450)(10,450)
At 31 January 2511,00011,000
Net book value
At 31 January 2511,00011,000
At 31 January 2421,45021,450

Notes

1Other investments other than loans
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables2,352638
Taxation and social security25,81830,611
Other creditors90,46447,101
Accrued liabilities and deferred income3,5103,250
Total122,14481,600
6.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)12,8003,600
Total12,8003,600
7.Related party transactions
During the year the directors had a loan account with the company. At 31 January 2025 the company owed the director £90,464. (2024 - £47,101). This loan is unsecured, interest free and repayable upon demand.