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Registration number: 9802305

Sporting Events UK Race Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

(filleted for filing purposes)

 

Sporting Events UK Race Management Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Sporting Events UK Race Management Limited

(Registration number: 9802305)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,682

8,474

Current assets

 

Debtors

5

6,097

9,487

Cash at bank and in hand

 

62,258

30,182

 

68,355

39,669

Creditors: Amounts falling due within one year

6

(87,265)

(74,873)

Net current liabilities

 

(18,910)

(35,204)

Total assets less current liabilities

 

(12,228)

(26,730)

Creditors: Amounts falling due after more than one year

6

(2,800)

(5,600)

Net liabilities

 

(15,028)

(32,330)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(15,128)

(32,430)

Shareholders' deficit

 

(15,028)

(32,330)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 June 2025
 

.........................................
Mr BJ Hopkins
Director

 

Sporting Events UK Race Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The New Barn Mill Lane
Eastry
Sandwich
Kent
CT13 0JW
England

These financial statements were authorised for issue by the director on 27 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Sporting Events UK Race Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% reducing balance

Fixtures, fittings and equipment

15% reducing balance

Plant and machinery

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Sporting Events UK Race Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 7).

 

Sporting Events UK Race Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

1,077

8,075

2,191

18,575

29,918

At 30 September 2024

1,077

8,075

2,191

18,575

29,918

Depreciation

At 1 October 2023

501

5,029

1,747

14,167

21,444

Charge for the year

86

457

147

1,102

1,792

At 30 September 2024

587

5,486

1,894

15,269

23,236

Carrying amount

At 30 September 2024

490

2,589

297

3,306

6,682

At 30 September 2023

576

3,046

444

4,408

8,474

 

Sporting Events UK Race Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

192

3,155

Prepayments

5,621

6,049

Other debtors

284

283

 

6,097

9,487

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

2,800

2,800

Trade creditors

 

7,106

15,455

Other related parties

19,360

13,487

Taxation and social security

 

6,395

4,602

Other creditors

 

51,604

38,529

 

87,265

74,873

Due after one year

 

Loans and borrowings

8

2,800

5,600

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Sporting Events UK Race Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

2,800

5,600

2024
£

2023
£

Current loans and borrowings

Other borrowings

2,800

2,800

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £28,800 (2023 - £43,200).