REGISTERED NUMBER: 01013427 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Silverstone Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H M Handkammer

P Digby

S A M Pringle

N J Read

REGISTERED OFFICE:

Silverstone Circuit

Silverstone

Towcester

Northamptonshire

NN12 8TN

REGISTERED NUMBER:

01013427 (England and Wales)

AUDITORS:

Harris & Co (Accountants) Ltd, Statutory Auditor

2 Pavilion Court

600 Pavilion Drive

Northampton

NN4 7SL

SOLICITORS:

Howes Percival LLP

Nene House

4 Rushmills

Northampton

NN4 7YB

FIXED ASSETS

Tangible assets

4

811,162

69,523

CURRENT ASSETS

Stocks

92,743

-

Debtors

5

228,968

71,333

Cash at bank

662,432

3,786

984,143

75,119

CREDITORS

Amounts falling due within one year

6

(6,780,274

)

(766,284

)

NET CURRENT LIABILITIES

(5,796,131

)

(691,165

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,984,969

)

(621,642

)

PROVISIONS FOR LIABILITIES

(202,791

)

(17,381

)

NET LIABILITIES

(5,187,760

)

(639,023

)

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

(5,187,910

)

(639,173

)

(5,187,760

)

(639,023

)

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 29 July 2025 and were signed on its behalf by:

P Digby - Director

1.	STATUTORY INFORMATION

Silverstone Estates 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.

Preparation of consolidated financial statements

These financial statements are consolidated in the financial statements of The British Racing Drivers' Club Limited.

The financial statements of The British Racing Drivers' Club Limited may be obtained from The British Racing Drivers' Club Limited, Silverstone Circuit, Northamptonshire, NN12 8TN.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Land and buildings - No depreciation and straight line over 3 to 20 years

Track works - Straight line over 8 to 12 years

Plant and machinery - Straight line over 3 to 20 years

Fixtures and fittings - Straight line over 3 to 20 years

Motor vehicles - Straight line over 3 to 10 years

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Impairment of assets

At each reporting date non-financial assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Alternative performance measures

Exceptional items are costs or income which either arise from the normal operation of the business but are outside the normal value range expected or relate to items that do not occur in the normal course of business.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Going concern

The company is reliant upon the continued financial support of its parent company. The parent company has confirmed its intention to provide the required financial assistance to the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

69,523

Additions

832,112

Disposals

(12,755

)

At 31 December 2024

888,880

DEPRECIATION

Charge for year

77,718

At 31 December 2024

77,718

NET BOOK VALUE

At 31 December 2024

811,162

At 31 December 2023

69,523

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

25,094

4,440

Other debtors

203,874

66,893

228,968

71,333

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

100,691

69,161

Amounts owed to group undertakings

5,859,893

662,348

Taxation and social security

32,844

23,308

Other creditors

786,846

11,467

6,780,274

766,284

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Phillip J Harris BA (Hons) FCA BFP (Senior Statutory Auditor)

for and on behalf of Harris & Co (Accountants) Ltd, Statutory Auditor

8.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of The British Racing Drivers' Club Limited.