REGISTERED NUMBER: 06448704 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

RACELEATHERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K Nixon

Ms A D Sandham

SECRETARY:

Ms A D Sandham

REGISTERED OFFICE:

Britannia Mill

Bolton Road

Darwen

Lancashire

BB3 1BZ

REGISTERED NUMBER:

06448704 (England and Wales)

ACCOUNTANTS:

Ainsworths Limited

Chartered Accountants

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,954

11,413

7,954

11,413

CURRENT ASSETS

Stocks

294,707

323,855

Debtors

6

12,988

15,080

Cash at bank and in hand

1,116

739

308,811

339,674

CREDITORS

Amounts falling due within one year

7

117,516

121,360

NET CURRENT ASSETS

191,295

218,314

TOTAL ASSETS LESS CURRENT LIABILITIES

199,249

229,727

CREDITORS

Amounts falling due after more than one year

8

4,083

11,083

NET ASSETS

195,166

218,644

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

195,164

218,642

SHAREHOLDERS' FUNDS

195,166

218,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 29th August 2025 and were signed on its behalf by:

Ms A D Sandham - Director

1.	STATUTORY INFORMATION

Raceleathers 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been fully amortised over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates 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.

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 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

36,000

AMORTISATION

At 1st January 2024

and 31st December 2024

36,000

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

and 31st December 2024

55,239

DEPRECIATION

At 1st January 2024

43,826

Charge for year

3,459

At 31st December 2024

47,285

NET BOOK VALUE

At 31st December 2024

7,954

At 31st December 2023

11,413

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

1,616

Other debtors

12,988

13,464

12,988

15,080

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

16,255

16,362

Trade creditors

80,296

93,159

Taxation and social security

2,959

3,595

Other creditors

18,006

8,244

117,516

121,360

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,083

11,083