REGISTERED NUMBER: 03469325 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

B.K. RACING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs E J Harding

Mr W Kitchen

Mrs C M Kitchen

REGISTERED OFFICE:

Deedtrade House

Grace Road

Marsh Barton Trading Estate

Exeter

Devon

EX2 8QA

REGISTERED NUMBER:

03469325 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

BANKERS:

Lloyds Bank Plc

234 High Street

Exeter

EX4 3NL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

292,430

324,548

292,430

324,548

CURRENT ASSETS

Stocks

6

482,674

492,212

Debtors

7

114,752

117,596

Cash at bank

41,048

97,166

638,474

706,974

CREDITORS

Amounts falling due within one year

8

83,202

171,691

NET CURRENT ASSETS

555,272

535,283

TOTAL ASSETS LESS CURRENT LIABILITIES

847,702

859,831

PROVISIONS FOR LIABILITIES

1,321

-

NET ASSETS

846,381

859,831

CAPITAL AND RESERVES

Called up share capital

300,000

300,000

Retained earnings

546,381

559,831

SHAREHOLDERS' FUNDS

846,381

859,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 1 October 2025 and were signed on its behalf by:

Mrs E J Harding - Director

Mr W Kitchen - Director

1.	STATUTORY INFORMATION

B.K. 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.

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 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

75,000

AMORTISATION

At 1 April 2024

and 31 March 2025

75,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

344,292

146,802

92,688

64,576

648,358

Additions

-

-

-

873

873

Disposals

-

-

(33,260

)

-

(33,260

)

At 31 March 2025

344,292

146,802

59,428

65,449

615,971

DEPRECIATION

At 1 April 2024

96,632

123,778

42,959

60,441

323,810

Charge for year

3,832

4,586

9,290

2,713

20,421

Eliminated on disposal

-

-

(20,690

)

-

(20,690

)

At 31 March 2025

100,464

128,364

31,559

63,154

323,541

NET BOOK VALUE

At 31 March 2025

243,828

18,438

27,869

2,295

292,430

At 31 March 2024

247,660

23,024

49,729

4,135

324,548

6.

STOCKS

2025

2024

£

£

Stocks

482,674

492,212

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

37,435

37,371

Other debtors

75,414

55,821

Directors' current accounts

1,903

18,113

VAT

-

6,291

114,752

117,596

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

55,145

113,222

Tax

22,602

23,173

Social security and other taxes

700

-

VAT

501

-

Other creditors

1,946

21,281

Directors' current accounts

41

11,824

Accrued expenses

2,267

2,191

83,202

171,691

9.	OTHER FINANCIAL COMMITMENTS

At 31 March 2025, the company had total commitments under non-cancellable operating leases over the remaining life of the leases of £48,780 (last year £27,615).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr W Kitchen

Balance outstanding at start of year

(11,825

)

91,138

Amounts advanced

32,495

249,575

Amounts repaid

(20,711

)

(352,538

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(41

)

(11,825

)

Mrs E J Harding

Balance outstanding at start of year

18,113

-

Amounts advanced

23,303

18,425

Amounts repaid

(39,513

)

(312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,903

18,113

Loans are unsecured, interest free and repayable on demand.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £59,600 were paid to the directors .