Company Registration No. 14817441 (England and Wales)
VRD Racing Ltd
Unaudited accounts
for the year ended 30 April 2025
VRD Racing Ltd
Unaudited accounts
Contents
VRD Racing Ltd
Company Information
for the year ended 30 April 2025
Director
Daniel Oscar William Mitchell
Company Number
14817441 (England and Wales)
Registered Office
Venta House, 9a Port road
Newport
NP20 2NS
United Kingdom
Accountants
Evans Entwistle
Villa House
7 Herbert Terrace
Penarth
Vale of Glamorgan
CF64 2AH
VRD Racing Ltd
Statement of financial position
as at 30 April 2025
Tangible assets
385,704
177,290
Cash at bank and in hand
1,363
-
Creditors: amounts falling due within one year
(147,893)
(2,000)
Net current assets
285,257
204,013
Total assets less current liabilities
670,961
381,303
Creditors: amounts falling due after more than one year
(2,334,861)
(1,351,180)
Provisions for liabilities
Deferred tax
(73,342)
(28,384)
Net liabilities
(1,737,242)
(998,261)
Called up share capital
1,000
1,000
Profit and loss account
(1,738,242)
(999,261)
Shareholders' funds
(1,737,242)
(998,261)
For the year ending 30 April 2025 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 August 2025 and were signed on its behalf by
Daniel Oscar William Mitchell
Director
Company Registration No. 14817441
VRD Racing Ltd
Notes to the Accounts
for the year ended 30 April 2025
VRD Racing Ltd is a private company, limited by shares, registered in England and Wales, registration number 14817441. The registered office is Venta House, 9a Port road, Newport, NP20 2NS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
5 years straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary 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 average exchange rate prevailing during the reporting period. Exchange differences are taken into account in arriving at the operating profit.
VRD Racing Ltd
Notes to the Accounts
for the year ended 30 April 2025
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2024
245,000
-
245,000
Additions
412,000
1,528
413,528
Disposals
(245,000)
-
(245,000)
At 30 April 2025
412,000
1,528
413,528
At 1 May 2024
67,710
-
67,710
Charge for the year
83,907
357
84,264
On disposals
(124,150)
-
(124,150)
At 30 April 2025
27,467
357
27,824
At 30 April 2025
384,533
1,171
385,704
At 30 April 2024
177,290
-
177,290
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2025
2024
7
Creditors: amounts falling due after more than one year
2025
2024
Other creditors
2,237,495
1,351,180
Loans from directors
97,366
-
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
VRD Racing Ltd
Notes to the Accounts
for the year ended 30 April 2025
9
Transactions with related parties
At the end of the financial period under review, the company owed £2,237,495 (2024: £1,351,180) to its associated company VRD LLC (registered in the US state of Montana).
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).