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REGISTERED NUMBER: 03664690 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RACING LINE LIMITED

RACING LINE LIMITED (REGISTERED NUMBER: 03664690)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RACING LINE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: P Guile
S J Roach
M T Walker





REGISTERED OFFICE: Quatro Park
4 Tanners Drive
Blakelands
Milton Keynes
Buckinghamshire
MK14 5FJ





REGISTERED NUMBER: 03664690 (England and Wales)





AUDITORS: Ad Valorem Audit Services Limited
Chartered Certified Accountants
& Statutory Auditors
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN

RACING LINE LIMITED (REGISTERED NUMBER: 03664690)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 4 132,917 153,107
Tangible assets 5 201,734 166,696
334,651 319,803

CURRENT ASSETS
Stocks 1,858,050 1,837,275
Debtors 6 2,418,557 1,696,824
Cash at bank 521,644 542,485
4,798,251 4,076,584
CREDITORS
Amounts falling due within one year 7 589,691 415,040
NET CURRENT ASSETS 4,208,560 3,661,544
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,543,211

3,981,347

CREDITORS
Amounts falling due after more than one
year

8

(42,104

)

(48,150

)

PROVISIONS FOR LIABILITIES (19,265 ) (19,640 )
NET ASSETS 4,481,842 3,913,557

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 4,480,842 3,912,557
SHAREHOLDERS' FUNDS 4,481,842 3,913,557

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





S J Roach - Director


RACING LINE LIMITED (REGISTERED NUMBER: 03664690)

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


1. STATUTORY INFORMATION

Racing Line 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.

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.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Revenue from the sale of goods and provision of services is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

GOODWILL
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of income and retained earnings over its useful economic life.

OTHER INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

RACING LINE LIMITED (REGISTERED NUMBER: 03664690)

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


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery- 33% reducing balance
Motor vehicles - 33% reducing balance
Fixtures and fittings - 33% reducing balance
Computer equipment- 33% reducing balance

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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

FINANCIAL INSTRUMENTS
The company only 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.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

RESEARCH AND DEVELOPMENT
Expenditure on research and development is written off in the year in which it is incurred.


FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

RACING LINE LIMITED (REGISTERED NUMBER: 03664690)

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


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2024
and 31 December 2024 201,899
AMORTISATION
At 1 January 2024 48,792
Charge for year 20,190
At 31 December 2024 68,982
NET BOOK VALUE
At 31 December 2024 132,917
At 31 December 2023 153,107

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2024 292,891 75,555 121,599 157,387 647,432
Additions 66,316 2,496 44,495 3,064 116,371
Disposals - - (14,500 ) - (14,500 )
At 31 December 2024 359,207 78,051 151,594 160,451 749,303
DEPRECIATION
At 1 January 2024 245,448 53,753 51,607 129,928 480,736
Charge for year 28,379 7,675 30,371 9,487 75,912
Eliminated on disposal - - (9,079 ) - (9,079 )
At 31 December 2024 273,827 61,428 72,899 139,415 547,569
NET BOOK VALUE
At 31 December 2024 85,380 16,623 78,695 21,036 201,734
At 31 December 2023 47,443 21,802 69,992 27,459 166,696

RACING LINE LIMITED (REGISTERED NUMBER: 03664690)

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 1,161,590 1,001,478
Amounts owed by group undertakings 983,524 493,427
Other debtors 184,184 64,954
VAT 18,007 11,704
Prepayments 71,252 125,261
2,418,557 1,696,824

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 9) 6,046 5,396
Trade creditors 324,335 216,730
Amounts owed to group undertakings - 1,183
Tax - 63,586
Social security and other taxes 22,974 28,063
Other creditors 21,514 23,569
Accruals and deferred income 214,822 76,513
589,691 415,040

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Hire purchase contracts (see note 9) 42,104 48,150

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 6,046 5,396
Between one and five years 42,104 48,150
48,150 53,546

Non-cancellable
operating leases
2024 2023
£ £
Within one year 68,856 58,124
Between one and five years 45,904 89,664
114,760 147,788

RACING LINE LIMITED (REGISTERED NUMBER: 03664690)

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. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Darren Kerins FCCA (Senior Statutory Auditor)
for and on behalf of Ad Valorem Audit Services Limited

12. PENSION COMMITMENTS

Contributions payable by the company for the year amounted to £20,733 (2023 - £18,280).

An amount of £1,747 (2023 - £1,488) was outstanding at the balance sheet date.

13. RELATED PARTY DISCLOSURES

During the year the company paid rent and management charges amounting to £70,082 (2023: £34,693) to companies under the control of one of the directors.

14. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Euro Motorparts Group (UK) Limited, a company registered in England and Wales, which owns 100% of the share capital.

The ultimate controlling party of the company is EMPI Holding Corp Inc., the registered office is 301 E. Orangethorpe Avenue, Anaheim, CA 92801.