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TRIPLE D MOTOSPORT LIMITED

Registered Number
06155717
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

TRIPLE D MOTOSPORT LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

CRAYSTON, Maria
CRAYSTON, Neil David

Company Secretary

CRAYSTON, Maria

Registered Address

Mintsfeet Road South
Mintsfeet Industrial Estate
Kendal
LA9 6ND

Registered Number

06155717 (England and Wales)
TRIPLE D MOTOSPORT LIMITED
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets323,69830,072
Tangible assets5176,139116,401
199,837146,473
Current assets
Stocks61,254,5481,339,442
Debtors769,163159,331
Cash at bank and on hand15,07918,436
1,338,7901,517,209
Creditors amounts falling due within one year8(1,189,938)(1,309,594)
Net current assets (liabilities)148,852207,615
Total assets less current liabilities348,689354,088
Creditors amounts falling due after one year9(121,415)(93,687)
Provisions for liabilities11(20,200)(19,400)
Net assets207,074241,001
Capital and reserves
Called up share capital100100
Profit and loss account206,974240,901
Shareholders' funds207,074241,001
The financial statements were approved and authorised for issue by the Board of Directors on 16 June 2025, and are signed on its behalf by:
CRAYSTON, Maria
Director
CRAYSTON, Neil David
Director

Registered Company No. 06155717
TRIPLE D MOTOSPORT LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
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)
Plant and machinery-10
Fixtures and fittings-5
Vehicles15-
Office Equipment15-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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

20242023
Average number of employees during the year810
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 January 2491,28527,234118,519
At 31 December 2491,28527,234118,519
Amortisation and impairment
At 01 January 2485,7242,72388,447
Charge for year9275,4476,374
At 31 December 2486,6518,17094,821
Net book value
At 31 December 244,63419,06423,698
At 31 December 235,56124,51130,072
4.Useful life of intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of goodwill has been set at 10 years and the asset will be amortized on a straight-line basis over that period. The Other Intangible asset is the company's new website. The estimated useful life of the website has been set at 5 years and the asset will be amortized on a straight-line basis over that period.
5.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 January 246,03738,437124,02078,84754,971302,312
Additions-1,13077,490210-78,830
At 31 December 246,03739,567201,51079,05754,971381,142
Depreciation and impairment
At 01 January 24-25,85260,54059,99639,523185,911
Charge for year-3,2049,5234,0472,31819,092
At 31 December 24-29,05670,06364,04341,841205,003
Net book value
At 31 December 246,03710,511131,44715,01413,130176,139
At 31 December 236,03712,58563,48018,85115,448116,401
6.Stocks

2024

2023

££
Raw materials and consumables1,254,5481,339,442
Total1,254,5481,339,442
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables12,30420,369
Other debtors55,377138,179
Prepayments and accrued income1,482783
Total69,163159,331
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables890,3421,176,215
Bank borrowings and overdrafts107,53629,365
Taxation and social security42,9753,686
Finance lease and HP contracts17,2837,152
Other creditors127,33991,324
Accrued liabilities and deferred income4,4631,852
Total1,189,9381,309,594
Bank borrowings amounting to £98,036 (2023: £19,865) are secured by a fixed and floating charge over assets of the company. Bank borrowings include a bank loan which is an unsecured government Bounce Back Loan amounting to £9,500 (2023: £9,500). Finance lease and HP contracts are secured on the assets to which they relate.
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts52,29263,327
Other creditors69,12330,360
Total121,41593,687
Bank borrowings amounting to £43,443 (2023: £47,899) are secured by a fixed and floating charge over assets of the company. Bank borrowings include a bank loan which is an unsecured government Bounce Back Loan amounting to £8,849 (2023: £15,428). Bank loan instalment payments due after more than five years amounted to £17,443 (2023: £21,899).
10.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts69,12330,360
Finance lease and HP contracts are secured on the assets to which they relate.
11.Provisions for liabilities
The deferred tax provision relates to accelerated capital allowances.

2024

2023

££
Net deferred tax liability (asset)20,20019,400
Total20,20019,400
12.Related party transactions
On 1 January 2024, the company owed the Directors £63,181. During the period the Directors were repaid £2,853 and the Directors advanced a further £43,494. On 31 December 2024, the company owed the Directors £103,822. No interest was charged on this loan and the loan is repayable on demand.