Company registration number 14198247 (England and Wales)
SKYLINE TRAIL RACES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SKYLINE TRAIL RACES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SKYLINE TRAIL RACES LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
120,000
135,000
Current assets
Debtors
4
18,775
38,547
Cash at bank and in hand
35,846
34,587
54,621
73,134
Creditors: amounts falling due within one year
5
(264,251)
(257,051)
Net current liabilities
(209,630)
(183,917)
Net liabilities
(89,630)
(48,917)
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(90,630)
(49,917)
Total equity
(89,630)
(48,917)

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 13 June 2025
Mr S Ohly
Director
Company registration number 14198247 (England and Wales)
SKYLINE TRAIL RACES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Skyline Trail Races Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ourea Events, Bleaze Farm, Old Hutton, Kendal, England, LA8 0LU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net current liabilities, mainly due to a balance owed to its parent company. The parent company confirms it will support its subsidiary for the foreseeable future, and the financial statements are therefore prepared on a going concern basis.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 

Turnover consists mainly of race entry fees and sponsorship income which is recognised in the period that the event is held.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
10 years

Intangible assets consist of trading and licencing assets purchased in December 2022 and will be amortised over 10 years. Amortisation commenced in the year ended 31 December 2023.

SKYLINE TRAIL RACES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Intangible fixed assets
Patents & licences
£
Cost
At 1 January 2024 and 31 December 2024
150,000
Amortisation and impairment
At 1 January 2024
15,000
Amortisation charged for the year
15,000
At 31 December 2024
30,000
Carrying amount
At 31 December 2024
120,000
At 31 December 2023
135,000
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
27,421
Other debtors
18,775
11,126
18,775
38,547
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
186
-
0
Amounts owed to group undertakings
261,615
243,567
Taxation and social security
-
0
3,957
Other creditors
2,450
9,527
264,251
257,051
SKYLINE TRAIL RACES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
6
Related party transactions

Skyline Trail Races Limited is a 100% owned subsidiary of Ourea Events Limited. The balance owed to its parent at the balance sheet date is £261,615 (2023: £243,567).

 

During the year ended 31 December 2024, a management fee was charged from Ourea Events Limited for £40,498 (2023: £59,779).

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