Company registration number 10283354 (England and Wales)
SEVEN MOTORSPORT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SEVEN MOTORSPORT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
SEVEN MOTORSPORT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Stocks
49,125
63,997
Debtors
5
55,984
48,330
Cash at bank and in hand
3,904
1,592
109,013
113,919
Creditors: amounts falling due within one year
6
(82,189)
(83,443)
Net current assets
26,824
30,476
Capital and reserves
Called up share capital
100,100
100,100
Profit and loss reserves
(73,276)
(69,624)
Total equity
26,824
30,476

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 October 2025 and are signed on its behalf by:
R Laishley
Director
Company registration number 10283354 (England and Wales)
SEVEN MOTORSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Seven Motorsport Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10, Rennie Drive, Dartford, England, DA1 5FD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company along with Caterham Cars Limited is a subsidiary of Caterham Cars Group Limited. The directors of the company have considered the future trading performance on a combined basis with its fellow subsidiary and immediate parent entity. This consideration takes into account the current economic climate and the results of trading to date. The company has no fixed assets or employees and is reliant on Caterham Cars Limited to continue to operate. In support of the going concern basis of preparation the directors have obtained confirmation from Caterham Cars Limited that it intends to support the company both financially and operationally for a period of at least 12 months from the date of approval of the financial statements. The directors have evaluated the ability of Caterham Cars Limited to provide the necessary support and have not identified any material uncertainties in this regard. Consequently, the accounts are prepared on a going concern basis.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The sources of turnover are fees for fitting of vehicle parts and labour.

Parts and labour sales are recognised in the accounting period in which the customer takes delivery of the part or in which the service is completed.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SEVEN MOTORSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interes t rate.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SEVEN MOTORSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

There are not considered to be any significant accounting estimates or judgements in the year.

3
Employees

The average monthly number of persons employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
SEVEN MOTORSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Taxation

The actual charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(3,652)
(6,080)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 24.00%)
(913)
(1,459)
Movement in deferred tax not recognised
913
1,459
Taxation charge for the year
-
-

The company has tax losses available to set off against future profits of £62,050 (2024: £58,398). As at 31 March 2025, deferred tax assets of £15,513 (2024: £14,538) in relation to these losses has not been recognised.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
55,884
48,230
Amounts owed by group undertakings
100
100
55,984
48,330
6
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
33,294
49,222
Other creditors
48,895
34,221
82,189
83,443
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

SEVEN MOTORSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
7
Audit report information
(Continued)
- 6 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Paul Daly BEng FCA
Statutory Auditor:
Cooper Parry Group Limited
Date of audit report:
15 October 2025
8
Parent company

Caterham Cars Group Limited was the immediate parent company as at 31 March 2025, and is incorporated in England and Wales. The directors consider the ultimate parent undertaking as at 31 March 2025 to be VT Holdings Co. Ltd, which is incorporated in Japan.

VT Holdings Co. Ltd is the largest company for which consolidated accounts including Seven Motorsport Limited were prepared for the period ended 31 March 2025. The consolidated accounts of VT Holdings Co. Ltd are available from it's registered office in Japan and via that company's corporate website.

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