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REGISTERED NUMBER: 02040994 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SHENINGTON KART RACING CLUB LIMITED
(COMPANY LIMITED BY GUARANTEE
AND NOT HAVING A SHARE CAPITAL)
SHENINGTON KART RACING CLUB LIMITED (REGISTERED NUMBER: 02040994)
(COMPANY LIMITED BY GUARANTEE
AND NOT HAVING A SHARE CAPITAL)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHENINGTON KART RACING CLUB LIMITED
(COMPANY LIMITED BY GUARANTEE
AND NOT HAVING A SHARE CAPITAL)

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: G M Smith
S Game
L J Allen
M Allen
P A Klaassen
G T Whitehouse
A G Bury
S C Weatherhead
G A Pashley
M Riman





SECRETARY: G M Smith





REGISTERED OFFICE: One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB





REGISTERED NUMBER: 02040994 (England and Wales)





ACCOUNTANTS: Dafferns LLP
Chartered Accountants
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB
Page 1
SHENINGTON KART RACING CLUB LIMITED (REGISTERED NUMBER: 02040994)
(COMPANY LIMITED BY GUARANTEE
AND NOT HAVING A SHARE CAPITAL)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 50,600 11,747

CURRENT ASSETS
Stocks 20,947 20,947
Debtors 6 16,772 9,603
Cash at bank 227,649 168,877
265,368 199,427
CREDITORS
Amounts falling due within one year 7 65,091 36,546
NET CURRENT ASSETS 200,277 162,881
TOTAL ASSETS LESS CURRENT
LIABILITIES
250,877
174,628

PROVISIONS FOR LIABILITIES 8 12,650 2,230
NET ASSETS 238,227 172,398

RESERVES
Other reserves 9 4,910 4,910
Retained earnings 9 233,317 167,488
238,227 172,398

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 notes form part of these financial statements

Page 2 continued...
SHENINGTON KART RACING CLUB LIMITED (REGISTERED NUMBER: 02040994)
(COMPANY LIMITED BY GUARANTEE
AND NOT HAVING A SHARE CAPITAL)

BALANCE SHEET - continued
31 December 2024


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 20 September 2025 and were signed on its behalf by:




L J Allen - Director



G M Smith - Director


The notes form part of these financial statements

Page 3
SHENINGTON KART RACING CLUB LIMITED (REGISTERED NUMBER: 02040994)
(COMPANY LIMITED BY GUARANTEE
AND NOT HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Shenington Kart Racing Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The company's place of business is Shenington Airfield, Shenington, Banbury, OX15 6NW.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Annual subscriptions and other receipts from members are credited to the profit and loss account in the financial year in which they are received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property
Equipment - 25% straight line

Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Leasehold property is held at cost and fully depreciated.

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

Financial instruments
Basics financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in other administrative expenses.

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.

Page 4 continued...
SHENINGTON KART RACING CLUB LIMITED (REGISTERED NUMBER: 02040994)
(COMPANY LIMITED BY GUARANTEE
AND NOT HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

3. ACCOUNTING POLICIES - continued

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.

Track maintenance
Expenditure on track and other maintenance is written off to the profit and loss account as it is incurred.


Operating lease commitments
Rentals paid under operating leases are charged to the income statement on a
straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Improvements
Leasehold to
property property Equipment Totals
£    £    £    £   
COST
At 1 January 2024 102,285 60,857 145,019 308,161
Additions - 31,588 14,581 46,169
At 31 December 2024 102,285 92,445 159,600 354,330
DEPRECIATION
At 1 January 2024 102,285 53,898 140,231 296,414
Charge for year - 3,514 3,802 7,316
At 31 December 2024 102,285 57,412 144,033 303,730
NET BOOK VALUE
At 31 December 2024 - 35,033 15,567 50,600
At 31 December 2023 - 6,959 4,788 11,747

Page 5 continued...
SHENINGTON KART RACING CLUB LIMITED (REGISTERED NUMBER: 02040994)
(COMPANY LIMITED BY GUARANTEE
AND NOT HAVING A SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,894 217
Taxation recoverable - 2,825
Prepayments 11,878 6,561
16,772 9,603

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 14,409 23,135
Taxation 1,171 -
Value added tax 6,658 6,334
Accruals and deferred income 42,853 7,077
65,091 36,546

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Capital allowances 12,650 2,230

Deferred
tax
£   
Balance at 1 January 2024 2,230
Provided during year 10,420
Balance at 31 December 2024 12,650

9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 January 2024 167,488 4,910 172,398
Profit for the year 65,829 65,829
At 31 December 2024 233,317 4,910 238,227

10. OTHER FINANCIAL COMMITMENTS

At 31 December 2024, the Company had total commitments under non-cancellable operating leases over the remaining life of those leases of £360,000 (2023: £231,000).

Page 6