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REGISTERED NUMBER: 05172008 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DOUBLE R RACING LIMITED

DOUBLE R RACING LIMITED (REGISTERED NUMBER: 05172008)






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


DOUBLE R RACING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: A J Hieatt





REGISTERED OFFICE: Unit 16 Woking Business Park
Albert Drive
Woking
Surrey
GU21 5JY





REGISTERED NUMBER: 05172008 (England and Wales)





ACCOUNTANTS: Jamesons Limited
Jamesons House
Compton Way
Witney
OX28 3AB

DOUBLE R RACING LIMITED (REGISTERED NUMBER: 05172008)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 621,230 547,632
Investments 5 25,025 25,025
646,255 572,657

CURRENT ASSETS
Stocks 7,250 7,250
Debtors 6 1,326,637 1,281,093
Cash at bank 177,727 84,850
1,511,614 1,373,193
CREDITORS
Amounts falling due within one year 7 619,496 537,267
NET CURRENT ASSETS 892,118 835,926
TOTAL ASSETS LESS CURRENT LIABILITIES 1,538,373 1,408,583

CREDITORS
Amounts falling due after more than one
year

8

143,883

192,438
NET ASSETS 1,394,490 1,216,145

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 11 1,393,490 1,215,145
SHAREHOLDERS' FUNDS 1,394,490 1,216,145

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.

DOUBLE R RACING LIMITED (REGISTERED NUMBER: 05172008)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 June 2025 and were signed by:





A J Hieatt - Director


DOUBLE R RACING LIMITED (REGISTERED NUMBER: 05172008)

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

1. STATUTORY INFORMATION

Double R 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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 Income Statement, 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DOUBLE R RACING LIMITED (REGISTERED NUMBER: 05172008)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 272,082 1,128,260 26,562 1,426,904
Additions 109,125 161,690 7,509 278,324
Disposals - (210,637 ) (4,517 ) (215,154 )
At 31 December 2024 381,207 1,079,313 29,554 1,490,074
DEPRECIATION
At 1 January 2024 142,879 719,046 17,347 879,272
Charge for year 39,529 109,882 3,028 152,439
Eliminated on disposal - (159,514 ) (3,353 ) (162,867 )
At 31 December 2024 182,408 669,414 17,022 868,844
NET BOOK VALUE
At 31 December 2024 198,799 409,899 12,532 621,230
At 31 December 2023 129,203 409,214 9,215 547,632

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2024
and 31 December 2024 345,615
DEPRECIATION
At 1 January 2024 86,404
Charge for year 64,803
At 31 December 2024 151,207
NET BOOK VALUE
At 31 December 2024 194,408
At 31 December 2023 259,211

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Other 25,025 25,025

DOUBLE R RACING LIMITED (REGISTERED NUMBER: 05172008)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,634 92,249
Other debtors 1,312,003 1,188,844
1,326,637 1,281,093

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 37,100 30,300
Trade creditors 535,927 470,148
Taxation and social security 7,515 5,666
Other creditors 28,954 21,153
619,496 537,267

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,867 15,888
Hire purchase contracts (see note 9) 138,016 176,550
143,883 192,438

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 37,100 30,300
Between one and five years 138,016 176,550
175,116 206,850

Non-cancellable operating leases
2024 2023
£    £   
Within one year 131,550 118,173
Between one and five years 58,499 136,066
190,049 254,239

DOUBLE R RACING LIMITED (REGISTERED NUMBER: 05172008)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RESERVES
Retained
earnings
£   

At 1 January 2024 1,215,145
Profit for the year 178,345
At 31 December 2024 1,393,490

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors' subsisted during the years ended 31 December 2024 and
31 December 2023:

20242023
££

Balance outstanding at start of year11,70313,215
Amounts advanced11,703
Amounts repaid(11,703)(13,215)
Amounts written off--
Amounts waived--
Balance outstanding at end of the year-11,703

The advances were subject to a market rate of interest, unsecured and repayable on demand.