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DML Racing Limited

Registered Number:11215093

For the year ended 28 February 2025
England and Wales
Unaudited Financial Statements

2
For the year ended 28 February 2025
DML Racing Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3

Registered Number :

11215093

As at 28 February 2025

DML Racing Limited
Statement of Financial Position

£

£

2024
2025

Notes

Fixed assets

Property, plant and equipment

53,284
17,634
2
53,284
17,634

Current assets

Inventories

37,319
41,672
3

Trade and other receivables

201,698
122,798
4
9,400

Cash and cash equivalents

27,131
191,601
248,417

Trade and other payables: amounts falling due within one year

(278,573)
(234,155)
5
(30,156)
(42,554)
Net current liabilities

Total assets less current liabilities

10,730
(12,522)

Trade and other payables: amounts falling due after more than
one year

(12,942)
(26,071)
6
(2,925)
(484)

Provisions for liabilities

(18,266)
Net liabilities
(25,948)

Capital and reserves

Called up share capital

10
10

Retained earnings

(18,276)
(25,958)
(18,266)
(25,948)
Shareholders' funds

For the year ended 28 February 2025 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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4

Registered Number :

11215093

For the year ended 28 February 2025
DML Racing Limited
Statement of Financial Position Continued

Mrs Clare Marie Loughnane Director

These financial statements were approved and authorised for issue by the Board on 21 May 2025 and were signed by:

The notes form part of these financial statements

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5
For the year ended 28 February 2025
DML Racing Limited
Notes to the Financial Statements
Statutory Information

DML Racing Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
11215093.

Registered address:

Rock Farm
Rock Cross
Kidderminster
Worcestershire
DY14 9SA

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1 A of Financial Reporting
Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain
assets.

Revenue recognition

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

Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

25% Reducing balance

33% Reducing balance

Computer Equipment

25% Reducing balance

Motor Vehicles
Inventories

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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6
For the year ended 28 February 2025
DML Racing Limited
Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer
Equipment

Motor Vehicles

Plant and
Machinery

£

£

£

£

Cost or valuation

At 01 March 2024

67,688
1,308
43,850
22,530
64,771
-
62,000
2,771

Additions

(182)
(43,850)
(2,949)

Disposals

(46,981)

At 28 February 2025

22,352
62,000
1,126
85,478

Provision for depreciation and impairment

At 01 March 2024

50,054
812
33,445
15,797
Charge for year
17,814
155
15,500
2,159
(35,674)
(157)
(33,445)
(2,072)

On disposal

At 28 February 2025

32,194
810
15,500
15,884

At 28 February 2025

Net book value

6,468
46,500
316
53,284

At 29 February 2024

6,733
10,405
496
17,634

3. Inventories

2024
2025

£

£

Stocks

41,672
37,319

4. Trade and other receivables

2024
2025

£

£

Trade debtors

114,687
196,916

Other debtors

8,111
4,782
201,698
122,798
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7
For the year ended 28 February 2025
DML Racing Limited
Notes to the Financial Statements Continued

5. Trade and other payables: amounts falling due within one year

2024
2025

£

£

Bank loans and overdraft

10,000
10,000

Trade creditors

89,175
152,604

Taxation and social security

47,206
41,873

Other creditors

87,774
74,096
234,155
278,573

6. Trade and other payables: amounts falling due after more than one year

2024
2025

£

£

Bank loans and overdraft

2,500
12,500

Other creditors

23,571
442
26,071
12,942

7. Related party transactions

Included within other creditors is the directors loan account balance of £75,179 (2024 - £63,679). This loan is interest free,
with no fixed date of repayment.

8. Average number of persons employed

During the year the average number of employees was 18 (2024 : 15)
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