Ricky Flynn Motor Sport Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07901397 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Ricky Flynn Motor Sport Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Flynn

Mrs K L Flynn

REGISTERED OFFICE:

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

REGISTERED NUMBER:

07901397 (England and Wales)

ACCOUNTANTS:

Chaves LLP

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

85,599

95,794

Investments

6

100

85,699

95,894

CURRENT ASSETS

Debtors

721,872

716,216

CREDITORS

Amounts falling due within one year

2,251

2,250

NET CURRENT ASSETS

719,621

713,966

TOTAL ASSETS LESS CURRENT
LIABILITIES

805,320

809,860

PROVISIONS FOR LIABILITIES

7

16,264

17,133

NET ASSETS

789,056

792,727

CAPITAL AND RESERVES

Called up share capital

8

200

Retained earnings

788,856

792,527

SHAREHOLDERS' FUNDS

789,056

792,727

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 October 2025 and were signed on its behalf by:

R Flynn - Director

1.	STATUTORY INFORMATION

Ricky Flynn Motor Sport 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five 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.

Plant and machinery

-

20% on reducing balance

Office furniture and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2024

and 31 January 2025

125,000

AMORTISATION

At 1 February 2024

and 31 January 2025

125,000

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2024

516,457

Additions

19,995

At 31 January 2025

536,452

DEPRECIATION

At 1 February 2024

420,663

Charge for year

30,190

At 31 January 2025

450,853

NET BOOK VALUE

At 31 January 2025

85,599

At 31 January 2024

95,794

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 February 2024

and 31 January 2025

100

NET BOOK VALUE

At 31 January 2025

100

At 31 January 2024

100

7.	PROVISIONS FOR LIABILITIES

31.1.25

31.1.24

£

Deferred tax

Accelerated capital allowances

16,264

17,133

Deferred

tax

£

Balance at 1 February 2024

17,133

Provided during year

(869

)

Balance at 31 January 2025

16,264

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

100

Ordinary

£1

100

50

A

£1

50

B

£1

50

200