Valley Motorsport Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 07196290

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		1,100,685		1,211,555

			1,100,685		1,211,555
CURRENT ASSETS
Stocks	6	154,750		302,440
Debtors	7	86,338		155,227
Cash at bank and in hand		369,955		208,311

		611,043		665,978
Creditors: Amounts Falling Due Within One Year	8	(398,490 )		(334,504 )

NET CURRENT ASSETS (LIABILITIES)			212,553		331,474

TOTAL ASSETS LESS CURRENT LIABILITIES			1,313,238		1,543,029

Creditors: Amounts Falling Due After More Than One Year	9		(572,888 )		(760,654 )

NET ASSETS			740,350		782,375

CAPITAL AND RESERVES
Called up share capital	11		2		200
Profit and Loss Account			740,348		782,175

SHAREHOLDERS' FUNDS			740,350		782,375

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Valley Motorsport Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

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

On behalf of the board

Mr Nigel Morris Director	Mrs Michelle Morris Director	Mr Daniel Morris Director
24th October 2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Valley Motorsport Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07196290 . The registered office is 7 Cheshire Street, Market Drayton, Shropshire, TF9 1PD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. 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	2% Reducing Balance
Plant & Machinery	10% Reducing Balance
Motor Vehicles	20% Reducing Balance
Fixtures & Fittings	20% Reducing Balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Valley Motorsport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Current tax is recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2024: 10)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	10,000

As at 31 March 2025	10,000

Amortisation
As at 1 April 2024	10,000

As at 31 March 2025	10,000

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 April 2024	907,771	98,429	568,029	61,211	1,635,440
Additions	-	-	18,775	-	18,775
Disposals	-	-	(62,653 )	-	(62,653 )

As at 31 March 2025	907,771	98,429	524,151	61,211	1,591,562

Depreciation
As at 1 April 2024	103,574	46,122	231,616	42,573	423,885
Provided during the period	16,084	5,231	62,646	3,728	87,689
Disposals	-	-	(20,697 )	-	(20,697 )

As at 31 March 2025	119,658	51,353	273,565	46,301	490,877

Net Book Value
As at 31 March 2025	788,113	47,076	250,586	14,910	1,100,685

As at 1 April 2024	804,197	52,307	336,413	18,638	1,211,555

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Valley Motorsport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Stocks

	2025	2024
	£	£
Materials	100,000	242,690
Work in progress	54,750	59,750

	154,750	302,440

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	83,817	153,424
Prepayments and accrued income	2,979	1,415
Other debtors	100	1,400
Pension scheme prepayments	(558 )	(1,012 )

	86,338	155,227

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	41,694	-
Trade creditors	-	3,039
Bank loans and overdrafts	-	14,289
Corporation tax	117,153	67,606
Other taxes and social security	4,652	4,412
VAT	68,191	56,355
Net wages	-	3,331
Other creditors	-	11,825
Lloyds Corporate Card	24,762	-
Amex	5,091	-
Business Credit Card	6,269	-
Accruals and deferred income	36,079	70,164
Directors' loan accounts	94,599	103,483

	398,490	334,504

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	110,139	229,016
Bank loans	462,749	531,638

	572,888	760,654

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Valley Motorsport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	41,694	-
Later than one year and not later than five years	110,139	229,016

	151,833	229,016

	151,833	229,016

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	200

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