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Registered number: 15265864

Cleanracing Limited

ABBREVIATED ACCOUNTS
FOR THE 421 DAY PERIOD ENDED 31/12/2024


Cleanracing Limited

ACCOUNTS
FOR THE 421 DAY PERIOD ENDED 31/12/2024
DIRECTORS
Peter Kyle-Henney
Steven Wood
SECRETARY
Alison Kyle-Henney
REGISTERED OFFICE
Lambda House
Fairview Road
Weyhill
Hampshire
SP11 0ST
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 15265864

Cleanracing Limited

ACCOUNTS
FOR THE421 DAY PERIODENDED31/12/2024
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Cleanracing Limited

BALANCE SHEET AT 31/12/2024
2024
Notes£
FIXED ASSETS
Tangible assets3250,968
CURRENT ASSETS
Stock12,320
Debtors510,857
Cash at bank and in hand43,535
66,712
CREDITORS: Amounts falling due within one year6315,571
NET CURRENT LIABILITIES(248,859)
TOTAL ASSETS LESS CURRENT LIABILITIES2,109
CAPITAL AND RESERVES
Called up share capital71
Profit and loss account2,108
SHAREHOLDERS' FUNDS2,109
For the year ending 31/12/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 15/07/2025 and signed on their behalf by
.............................
Peter Kyle-Henney
Director

Cleanracing Limited

NOTES TO THE ACCOUNTS
FOR THE 421 DAY PERIOD ENDED 31/12/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
These financial statements have been prepared on the going concern basis. The Directors have examined the Company's forecast and its cash resources and concluded that the Company can continue for the foreseeable future as a going concern
1c. Depreciation
Depreciation is charged against the value of tangible fixed assets based on the Directors' assessment of net realisable value at the Balance Sheet date.
Commercial Vehiclesreducing balance%
Motor Carsreducing balance%
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e.

Cleanracing Limited

2. EMPLOYEES
2024
No.No.
Average number of employees-
3. TANGIBLE FIXED ASSETS
Plant andCommercial
MachineryVehiclesMotor CarsTotal
££££
Cost
Additions3,178105,000172,290280,468
At 31/12/20243,178105,000172,290280,468
Depreciation
For the 421 day period-9,50020,00029,500
At 31/12/2024-9,50020,00029,500
Net Book Amounts
At 31/12/20243,17895,500152,290250,968
The tangible fixed assets of the Company are security for the Directors Loan owed to Peter Kyle-Henney (see related party note for details). The amount of the charge is £330,960.00 and none of the tangible fixed assets can be sold by the Company without his express consent.
4. STOCK 2024
£
Stock comprises:
Stock12,320
12,320
5. DEBTORS 2024
£
Amounts falling due within one year
VAT10,857
10,857

Cleanracing Limited

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Directors current account282,042
Directors current account25,000
Trade creditors8,529
315,571
7. SHARE CAPITAL 2024
£
Allotted, issued and fully paid:
1 Ordinary shares of £1 each1
1
New shares issued during period:
1 Ordinary shares of £1 each1
1
8. RELATED PARTY TRANSACTIONS
Peter Kyle-Henney, the Company's shareholder, has a Directors Loan with Cleanracing Limited which is non interest bearing. At 31 December 2024, £282,041.82 was owed by the Company to Peter Kyle-Henney. The maximum amount outstanding during the year was £366,102.05. On 23 July 2024 a charge was registered with the Company securing the Directors Loan up to an amount of £330,960.00 on the assets of the Company including (but not restricted to) the Commercial Vehicle and the Car. The Company is unable to sell any of its assets without the express consent of Peter Kyle-Henney whilst the charge remains in place.
Peter Kyle-Henney rented a car that he owns to the Company during the year. Total rental payments from Cleanracing Limited to Peter Kyle-Henney amounted to £4,125.00 and total expenses recharged from Cleanracing Limited to Peter Kyle-Henney amounted to £2,072.54. Cleanracing also provided track day services to Sesanti Limited (a Company in which Peter Kyle-Henney is a shareholder and Director) amounting to £3,767.52. Peter Kyle-Henney is also a customer of Cleanracing Limited and he paid £145,670.18 during the year to Cleanracing Limited for race team services and car maintenance.
Steven Wood has a Director's loan with Cleanracing Limited which is non interest bearing. At 31 December 2024, £25,000 was owed by the Company to Steven Wood. The maximum amount outstanding during the year was £25,000. Steven Wood is a customer of Cleanracing Limited and he paid £4,261.15 during the year to Cleanracing Limited for race team services and car rental. Steven Wood is a shareholder and Director of Autofarm (1973) Limited and Cleanracing Limited made sales to Autofarm of £79,718.15 and purchased goods and services from Autofarm during the year of £4,823.18.