REGISTERED NUMBER: 05507947 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Preston Motorsport Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Preston

SECRETARY:

Ms I M Jacinto Fernandes

REGISTERED OFFICE:

16 Stockmore Street

Oxford

Oxfordshire

OX4 1JT

REGISTERED NUMBER:

05507947 (England and Wales)

ACCOUNTANTS:

A S TAXATION LIMITED

59 Lancaster Avenue

Guildford

Surrey

GU1 3JR

FIXED ASSETS

Tangible assets

4

4,372

3,086

Investments

5

201,714

201,714

206,086

204,800

CURRENT ASSETS

Debtors

6

9,745

8,285

Cash at bank

32,003

61,510

41,748

69,795

CREDITORS

Amounts falling due within one year

7

47,384

89,172

NET CURRENT LIABILITIES

(5,636

)

(19,377

)

TOTAL ASSETS LESS CURRENT LIABILITIES

200,450

185,423

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

199,450

184,423

SHAREHOLDERS' FUNDS

200,450

185,423

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 April 2025 and were signed by:

M Preston - Director

1.	STATUTORY INFORMATION

Preston Motorsport 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

20,757

Additions

2,754

At 31 March 2025

23,511

DEPRECIATION

At 1 April 2024

17,671

Charge for year

1,468

At 31 March 2025

19,139

NET BOOK VALUE

At 31 March 2025

4,372

At 31 March 2024

3,086

5.	FIXED ASSET INVESTMENTS

31.3.25

31.3.24

£

£

Loans to undertakings in which the company has a participating interest

196,000

196,000

Other investments not loans

5,714

5,714

201,714

201,714

Additional information is as follows:

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

5,714

NET BOOK VALUE

At 31 March 2025

5,714

At 31 March 2024

5,714

Loans to

associates

£

At 1 April 2024

and 31 March 2025

196,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

9,745

8,285

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

1,077

2,298

Taxation and social security

2,307

-

Other creditors

44,000

86,874

47,384

89,172