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# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Company Registration Number:
05032769 (England and Wales)

## Unaudited abridged accounts for the year ended 31 December 2024

## Period of accounts

## Start date: 01 January 2024

## End date: 31 December 2024

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet |
Notes |

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Balance sheet

As at 31 December 2024

| Notes | 2024 | 2023
--- | --- | --- | ---
|  | £ | £
Fixed assets
Tangible assets: | 3 | 161,366 | 184,633
Total fixed assets: |  | 161,366 | 184,633
Current assets
Stocks: |  | 18,264 | 21,889
Debtors: | 4 | 73,638 | 85,463
Cash at bank and in hand: |  | 153,679 | 194,465
Total current assets: |  | 245,581 | 301,817
Creditors: amounts falling due within one year: | 5 | (525,517) | (653,985)
Net current assets (liabilities): |  | (279,936) | (352,168)
Total assets less current liabilities: |  | (118,570) | (167,535)
Creditors: amounts falling due after more than one year: | 6 | (35,767) | (83,381)
Total net assets (liabilities): |  | (154,337) | (250,916)
Capital and reserves
Called up share capital: |  | 200 | 200
Share premium account: |  | 650,000 | 650,000
Profit and loss account: |  | (804,537) | (901,116)
Shareholders funds: |  | (154,337) | (250,916)

The notes form part of these financial statements

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Balance sheet statements

For the year ending 31 December 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 02 May 2025
and signed on behalf of the board by:

Name: W H Sisley
Status: Director

The notes form part of these financial statements

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

## Turnover policy

Turnover represents income received for the use of the racing circuit at Three Sisters, along with associated activities and goods and services. Income is recognised on the date the goods or services are provided, stated net of value added tax.

## Tangible fixed assets and depreciation policy

Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on a reducing balance basis at rates of 10-25% per annum.

## Other accounting policies

Statutory information. The Company is a private company limited by shares and domiciled in England and Wales. The registered office is Three Sisters Race Circuit, Three Sisters Road, Ashton-In-Makerfield, Wigan, Lancashire, WN4 8DD. Leasing and hire purchase contracts. Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the risks and benefits of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits remain with the lessor are charged to the profit and loss account on a straight line basis. Stock. Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the stock and work-in-progress to its present location and condition. A ‘first-in-first-out’ basis is used. Going Concern. The directors consider the company will continue to trade as a going concern as they believe the shareholders will continue to support the company to enable it to meet its liabilities as they fall due. Taxation. Taxation represents the sum of tax currently payable and deferred tax. The company’s liability for current tax is calculated using tax rates that have been enacted by the end of the reporting period. Deferred tax is recognised in respect of all timing differences (including fair value adjustments) that have originated but not reversed by the balance sheet date except that a deferred tax asset is only recognised to the extent that it is regarded as recoverable. Deferred tax is measured using the rate of tax that is expected to apply in the periods in which the timing differences are expected to reverse.

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 2. Employees

| 2024 | 2023
--- | --- | ---
Average number of employees during the period | 14 | 13

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 3. Tangible Assets

| Total
--- | ---
Cost | £
At 01 January 2024 | 403,963
Additions | 51,665
Disposals | (3,529)
At 31 December 2024 | 452,099
Depreciation |
At 01 January 2024 | 219,330
Charge for year | 74,932
On disposals | (3,529)
At 31 December 2024 | 290,733
Net book value |
At 31 December 2024 | 161,366
At 31 December 2023 | 184,633

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 4. Debtors

| 2024 | 2023
--- | --- | ---
| £ | £
Debtors due after more than one year: | 0 | 0

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 5. Creditors: amounts falling due within one year note

Trade creditors £61,228 (2023-£39,304). Other creditors £108,952 (2023-£112,713). Other taxation £30,494 (2023-£66,803). Amounts owed to group undertakings £277,517 (2023-£391,518). Bank loans £11,088 (2023-£10,800). Net obligations under finance leases and hire purchase contracts (secured) £36,238 (2023-£32,847). Total £525,517 (2023-£653,985). Finance leases are secured on the assets concerned.

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 6. Creditors: amounts falling due after more than one year note

Bank loans £12,936 (2023-£24,312). Net obligations under finance leases and hire purchase contracts (secured) £22,831 (2023-£59,069). Total £35,767 (2023-£83,381). Finance leases are secured on the assets concerned.

# MOTORSPORT CIRCUIT MANAGEMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 7. Financial commitments

At 31 December 2024 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £ 175,000 (2023- £200,000).