REGISTERED NUMBER: 11461811 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KTJ RACING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

P A Jewiss

K T Jewiss

REGISTERED OFFICE:

2nd Floor, 55 Ludgate Hill

London

United Kingdom

EC4M 7JW

REGISTERED NUMBER:

11461811 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Property, plant and equipment

4

1,059

16,668

CURRENT ASSETS

Debtors

5

648

9,801

Cash at bank

1,724

2,492

2,372

12,293

CREDITORS

Amounts falling due within one year

6

162,861

301,504

NET CURRENT LIABILITIES

(160,489

)

(289,211

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(159,430

)

(272,543

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(159,432

)

(272,545

)

(159,430

)

(272,543

)

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

P A Jewiss - Director

1.	STATUTORY INFORMATION

KTJ Racing 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.

The directors consider that in preparing the financial statements they have taken into account all information available, and on this basis the financial statements are prepared on a going concern basis.

Turnover

Revenue 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.

Plant and machinery

-

25% on cost

Motor vehicles

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

3.	EMPLOYEES AND DIRECTORS

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

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 January 2024

10,167

56,000

66,167

Disposals

-

(56,000

)

(56,000

)

At 31 December 2024

10,167

-

10,167

Depreciation

At 1 January 2024

6,566

42,933

49,499

Charge for year

2,542

-

2,542

Eliminated on disposal

-

(42,933

)

(42,933

)

At 31 December 2024

9,108

-

9,108

Net book value

At 31 December 2024

1,059

-

1,059

At 31 December 2023

3,601

13,067

16,668

Included within Fixed Assets are assets which are held under hire purchase agreements with a net book value totalling £nil (2023 - £13,067).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

9,349

Other debtors

648

452

648

9,801

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

6,375

Trade creditors

32,940

34,014

Other creditors

129,921

261,115

162,861

301,504

7.	RELATED PARTY DISCLOSURES

Included in creditors: amounts falling due within one year are a directors loan accounts in the sum of £127,926 (2023: £259,099) which has been provided to Mr P A Jewiss and K T Jewiss. The accounts are unsecured, interest free and repayable in demand.