JAC Racing LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC412277

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		209,095		186,714

			209,095		186,714
CURRENT ASSETS
Stocks	5	215,518		171,999
Debtors	6	23,766		75,750
Cash at bank and in hand		4,126		10,473

		243,410		258,222
Creditors: Amounts Falling Due Within One Year	7	(314,404 )		(243,593 )

NET CURRENT ASSETS (LIABILITIES)			(70,994 )		14,629

TOTAL ASSETS LESS CURRENT LIABILITIES			138,101		201,343

Creditors: Amounts Falling Due After More Than One Year	8		-		(9,715 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			138,101		191,628

REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability		138,101		191,628

			138,101		191,628

			138,101		191,628

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			138,101		191,628

			138,101		191,628

Page 1

Page 2

JAC Racing LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mrs J A Brown Designated Member	Mr S Brown Designated Member
10/10/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

JAC Racing LLP is a limited liability partnership, incorporated in England & Wales, registered number OC412277 . The Registered Office is Martha's Lodge, 106 Welham Road, Norton, Malton, North Yorkshire, YO17 9DS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover represents income from training horses and associated recharges. There is also an element of income from racing horses owned by the LLP.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	No depreciation
Plant & Machinery	20% reducing balance
Motor Vehicles	25% reducing balance

2.4. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stock represents horses owned by the business. It also contains consumables that were held at the year end. Stock is valued at the lower of cost and net realisable value. Included in the stock figure is work-in-progress at the year end. This is made up of all work completed but not yet invoiced.

2.6. Pensions

The LLP operates a defined pension contribution scheme. Contributions are charged to the Profit and Loss Account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 20 (2024: 18)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 April 2024	88,773	79,943	124,441	293,157
Additions	-	36,418	49,000	85,418
Disposals	-	-	(37,500 )	(37,500 )

As at 31 March 2025	88,773	116,361	135,941	341,075

...CONTINUED

Page 3

Page 4

JAC Racing LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	-	38,443	68,000	106,443
Provided during the period	-	15,583	19,329	34,912
Disposals	-	-	(9,375 )	(9,375 )

As at 31 March 2025	-	54,026	77,954	131,980

Net Book Value
As at 31 March 2025	88,773	62,335	57,987	209,095

As at 1 April 2024	88,773	41,500	56,441	186,714

5. Stocks

	2025	2024
	£	£
Stock	92,733	48,635
Work in progress	122,785	123,364

	215,518	171,999

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	15,809	64,558
Other debtors	7,957	11,192

	23,766	75,750

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	198,705	137,939
Bank loans and overdrafts	57,576	47,761
Other creditors	22,477	33,717
Taxation and social security	35,646	24,176

	314,404	243,593

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	9,715

Page 4