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Company Registration No. 14101364 (England and Wales)
G R P Axe Racing Ltd Unaudited accounts for the year ended 31 May 2025
G R P Axe Racing Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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G R P Axe Racing Ltd Company Information for the year ended 31 May 2025
Director
Glen Richard Penlington
Company Number
14101364 (England and Wales)
Registered Office
8 Seven Acres Knighton LD7 1LF Wales
Accountants
S A Acc'y Ltd The Corner House 4 Beaumont Road Church Stretton Shropshire SY6 6BN
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G R P Axe Racing Ltd Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
18,195
11,076
Current assets
Debtors
5
144
1,496
Cash at bank and in hand
2,177
2,400
2,321
3,896
Creditors: amounts falling due within one year
6
(1,050)
(1,556)
Net current assets
1,271
2,340
Total assets less current liabilities
19,466
13,416
Provisions for liabilities
Deferred tax
(3,458)
(2,105)
Net assets
16,008
11,311
Capital and reserves
Called up share capital
1
1
Profit and loss account
16,007
11,310
Shareholders' funds
16,008
11,311
For the year ending 31 May 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 his 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 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.
The financial statements were approved by the Board and authorised for issue on 13 November 2025 and were signed on its behalf by
Glen Richard Penlington Director Company Registration No. 14101364
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G R P Axe Racing Ltd Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
G R P Axe Racing Ltd is a private company, limited by shares, registered in England and Wales, registration number 14101364. The registered office is 8 Seven Acres, Knighton, LD7 1LF, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10%per annum reducing balance
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 June 2024
12,553
Additions
9,141
At 31 May 2025
21,694
Depreciation
At 1 June 2024
1,477
Charge for the year
2,022
At 31 May 2025
3,499
Net book value
At 31 May 2025
18,195
At 31 May 2024
11,076
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
144
1,496
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G R P Axe Racing Ltd Notes to the Accounts for the year ended 31 May 2025
6
Creditors: amounts falling due within one year
2025
2024
£
£
Loans from directors
510
1,016
Accruals
540
540
1,050
1,556
7
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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