Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-301trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activityfalse2023-12-011false 09653360 2023-12-01 2024-11-30 09653360 2022-12-01 2023-11-30 09653360 2024-11-30 09653360 2023-11-30 09653360 c:Director1 2023-12-01 2024-11-30 09653360 d:CurrentFinancialInstruments 2024-11-30 09653360 d:CurrentFinancialInstruments 2023-11-30 09653360 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 09653360 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 09653360 d:ShareCapital 2024-11-30 09653360 d:ShareCapital 2023-11-30 09653360 d:RetainedEarningsAccumulatedLosses 2024-11-30 09653360 d:RetainedEarningsAccumulatedLosses 2023-11-30 09653360 c:FRS102 2023-12-01 2024-11-30 09653360 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 09653360 c:FullAccounts 2023-12-01 2024-11-30 09653360 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 09653360 2 2023-12-01 2024-11-30 09653360 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 09653360










DAVID MAXWELL RACING LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
DAVID MAXWELL RACING LTD
REGISTERED NUMBER: 09653360

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
38,658
1,740

Cash at bank and in hand
 5 
1,585
40,307

  
40,243
42,047

Creditors: amounts falling due within one year
 6 
(252)
-

Net current assets
  
 
 
39,991
 
 
42,047

Total assets less current liabilities
  
39,991
42,047

  

Net assets
  
39,991
42,047


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
39,990
42,046

  
39,991
42,047


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2025.




Mr D Maxwell
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
DAVID MAXWELL RACING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

David Maxwell Racing Ltd is a private company limited by shares incorporated in England & Wales. The registered office is 5 Seaforth Place, London, SW1E 6AB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

 
DAVID MAXWELL RACING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Debtors

2024
2023
£
£


Other debtors
38,658
1,740

38,658
1,740



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,585
40,307

1,585
40,307



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
252
-

252
-


Page 3

 
DAVID MAXWELL RACING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Related party transactions

During the period an amount of £0 (2023-£320,000) was repaid to the parent company, DPK Real Estate Services Ltd.
Included within other debtors due within one year is a loan to David Maxwell, a director, amounting to £36,658 (2023 - £1,741). This amount was paid in full following the year end.
 


8.


Controlling party

The company's immediate parent company is DPK Real Estate Services Ltd, whose registered office is 5 Seaforth Place, London, SW1E 6AB.
The company's ultimate parent is DPK Real Estate LLP whose registered office is 5 Seaforth Place, London, SW1E 6AB.
The ultimate controlling party is David Maxwell. 
 



Page 4