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REGISTERED NUMBER: 05523158 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Jem Racing Limited

Jem Racing Limited (Registered number: 05523158)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jem Racing Limited

Company Information
for the Year Ended 31 March 2025







DIRECTOR: M Johnstone





SECRETARY:





REGISTERED OFFICE: 162 Ringwood Road
Parkstone
Poole
Dorset
BH14 0RR





REGISTERED NUMBER: 05523158 (England and Wales)





ACCOUNTANTS: Gervis
6 Wick Lane
Christchurch
Dorset
BH23 1HX

Jem Racing Limited (Registered number: 05523158)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 690,000 690,000
690,000 690,000

CURRENT ASSETS
Debtors 6 12,100 12,100
Cash at bank 1,172,892 1,300,062
1,184,992 1,312,162
CREDITORS
Amounts falling due within one year 7 148,692 241,030
NET CURRENT ASSETS 1,036,300 1,071,132
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,726,300

1,761,132

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 1,726,298 1,761,130
SHAREHOLDERS' FUNDS 1,726,300 1,761,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

Jem Racing Limited (Registered number: 05523158)

Balance Sheet - continued
31 March 2025


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 14 July 2025 and were signed by:





M Johnstone - Director


Jem Racing Limited (Registered number: 05523158)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Jem 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.

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.

Turnover represents income from gaming and betting activities in the period, including the profits from fixed odds betting machines, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred trecognized recognised in the Income Statement, except to the extenrecognizedrelates 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.

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.

Jem Racing Limited (Registered number: 05523158)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

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 2 (2024 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 250,000
AMORTISATION
At 1 April 2024
and 31 March 2025 250,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2024
and 31 March 2025 690,000
NET BOOK VALUE
At 31 March 2025 690,000
At 31 March 2024 690,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Betting Duty debtors 12,100 12,100

Jem Racing Limited (Registered number: 05523158)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Machine Gaming Duty - 3,727
Accountancy & Audit Accrual 4,800 13,060
Betting Duty - 4,503
Tax - 116,924
Net wages - 2,465
Social security and other taxes - 247
Directors Pension Accrual 100,000 100,000
Pension creditor - 104
Director's curr accs less 1yr 43,892 -
148,692 241,030

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.25 31.3.24
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Retained
earnings
£   

At 1 April 2024 1,761,130
Deficit for the year (10,832 )
Dividends (24,000 )
At 31 March 2025 1,726,298

10. RELATED PARTY DISCLOSURES

The company operates from premises owned by M Johnstone, the company director. During the year ended 31 March 2025 the company was charged rent of £NIL (2024) £28,000) for the use of these premises.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, M Johnstone by virtue of his ownership of the share capital of the company.