2024-03-01 2025-02-28 11823436 Legacy Racing Club Limited false 11823436 2024-03-01 2025-02-28 11823436 uk-bus:Director1 2024-03-01 2025-02-28 11823436 uk-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 11823436 uk-bus:SmallEntities 2024-03-01 2025-02-28 11823436 uk-bus:FullAccounts 2024-03-01 2025-02-28 11823436 uk-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 11823436 2024-03-01 11823436 2025-02-28 11823436 2024-02-28 xbrli:pure iso4217:GBP 11823436 2023-03-01 2024-02-28

Company Registration Number : 11823436 (England and Wales)
11823436
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2025-02-28
false
Legacy Racing Club Limited
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2024-03-01
Legacy Racing Club Limited Unaudited filleted financial statements For the year ended 28 February 2025

Legacy Racing Club Limited Contents For the year ended 28 February 2025

CONTENTS | PAGE
Company Information | 3
Statement of Financial Position | 4
Notes to the Financial Statements | 5 - 6

Legacy Racing Club Limited Company Information For the year ended 28 February 2025

Company registration number |  | 11823436 (England and Wales)
Director |  | L S Nevin
Registered office address |  | Agincourt House
|  | 14 Clytha Park Road
|  | Newport
|  | Wales
|  | NP20 4PB
Accountant |  | Phil Bessant Limited
|  | Chartered Management Accountants
|  | Agincourt House
|  | 14 Clytha Park Road
|  | Newport
|  | NP20 4PB

Legacy Racing Club Limited Statement of Financial Position For the year ended 28 February 2025

|  |  | 2025 |  | 2024
| Notes |  | £ |  | £
Fixed assets |  |  |  |  |
Property, plant and equipment |  |  | 13,449 |  | 19,627
| 5 |  | 13,449 |  | 19,627
Current assets |  |  |  |  |
Inventories |  |  | 1,000 |  | 1,000
Debtors |  |  | 117,965 |  | 96,107
Cash and cash equivalents |  |  | 19,485 |  | 3,855
|  |  | 138,450 |  | 100,962
Current liabilities |  |  |  |  |
Creditors: Amounts falling due within one year |  |  | (172,127) |  | (89,922)
Corporation tax payable |  |  | - |  | (925)
|  |  | (172,127) |  | (90,846)
Net current (liabilities)/assets |  |  | (33,677) |  | 10,116
Total assets less current liabilities |  |  | (20,228) |  | 29,743
Non-current liabilities |  |  |  |  |
Creditors: Amounts falling due after more than one year |  |  | (1,412) |  | (5,579)
Net (liabilities)/assets |  |  | (21,640) |  | 24,163
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Retained earnings |  |  | (21,740) |  | 24,063
Shareholder's funds |  |  | (21,640) |  | 24,163
For the year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A. The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
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 in accordance with section 476 of the Companies Act 2006. The director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 17 November 2025
.............................
L S Nevin (Director)
Company registration number: 11823436

/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */

Balance sheet at 2025-02-28 28 February 2025
|  |  |  | 2025 |  | 2024
|  |  |  | £ |  | £
Fixed Assets |  |  |  | 13,449 |  | 19,627
Current Assets |  |  |  | 138,450 |  | 100,962
Cash in Hand/Bank |  |  |  | 19,485 |  | 3,855
Creditors: amounts falling due within one year |  |  |  | (172,127) |  | (90,846)
Net current assets/(liabilities) |  |  |  | (33,677) |  | 10,116
Total assets less current liabilities |  |  |  | (20,228) |  | 29,743
CREDITORS: Amounts falling due more than one year |  |  |  | (1,412) |  | (5,579)
Net Assets/(liabilities) |  |  |  | (21,640) |  | 24,163
Capital and Reserves |  |  |  | (21,640) |  | 24,163
Called up share capital |  |  |  | 100 |  | 100
Profit and loss account |  |  |  | (21,740) |  | 24,063
SHAREHOLDER'S FUND |  |  |  | (21,640) |  | 24,163
For the year ending 28/02/2025 the company was entitled to exemption 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. For the year ending 28-02-2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 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 in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 17 November 2025 2025-11-17 and signed on behalf of the board, |  |  |  |  |  |  |  |  |  |
............................. |  |  |  |  |  |  |  |  |  |
L S Nevin |  |  |  |  |  |  |  |  |  |
Director |  |  |  |  |  |  |  |  |  |
Company registration number: 11823436 |  |  |  |  |  |  |  |  |  |

Legacy Racing Club Limited Notes to the Financial Statements For the year ended 28 February 2025

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Agincourt House, 14 Clytha Park Road, Newport, Wales, NP20 4PB.
(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.
(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Interest income
Interest income is recognised using the effective interest method.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:
Asset class and depreciation rate
Land and Buildings |
Plant and Machinery | 20% straight line
Short Leasehold Properties |
Investment Properties |
Long Leasehold Properties |
Commercial Vehicles |
Fixtures and Fittings | 15% reducing balance
Equipment | 20% reducing balance
Motor Cars |
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement 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 current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Going Concern
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
(4) Employees
During the year, the average number of employees including director was 1 (2024 : 1).
(5) Fixed assets
| Tangible £
Cost |
As at 01 March 2024 | 47,374
As at 28 February 2025 | 47,374
Depreciation/Amortisation |
As at 01 March 2024 | 27,746
For the year | 6,178
As at 28 February 2025 | 33,924
Net book value |
As at 28 February 2025 | 13,450
As at 29 February 2024 | 19,628