REGISTERED NUMBER: 09258584 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Race Spec Cages Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Ingram

T S Wood

REGISTERED OFFICE:

Unit 31 Straight Mile

Bourton

Rugby

CV23 9QQ

REGISTERED NUMBER:

09258584 (England and Wales)

ACCOUNTANTS:

Leigh Christou Ltd

Chartered Certified Accountants

Leofric House

Binley Road

Coventry

CV3 1JN

FIXED ASSETS

Tangible assets

4

157,560

149,717

CURRENT ASSETS

Stocks

18,895

17,567

Debtors

5

53,580

12,593

Cash at bank and in hand

25,120

19,782

97,595

49,942

CREDITORS

Amounts falling due within one year

6

88,187

62,408

NET CURRENT ASSETS/(LIABILITIES)

9,408

(12,466

)

TOTAL ASSETS LESS CURRENT LIABILITIES

166,968

137,251

CREDITORS

Amounts falling due after more than one year

7

(130,496

)

(82,762

)

PROVISIONS FOR LIABILITIES

(4,813

)

(12,707

)

NET ASSETS

31,659

41,782

CAPITAL AND RESERVES

Called up share capital

103

100

Retained earnings

31,556

41,682

31,659

41,782

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 directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by:

T S Wood - Director

J Ingram - Director

1.	STATUTORY INFORMATION

Race Spec Cages Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

Straight line over 10 years and Straight line over 5 years

Fixtures and fittings

-

Straight line over 3 years and Straight line over 4 years

Motor vehicles

-

Straight line over 4 years and Straight line over 5 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

223,860

4,158

116,400

344,418

Additions

-

-

147,136

147,136

Disposals

-

-

(107,900

)

(107,900

)

At 31 March 2025

223,860

4,158

155,636

383,654

DEPRECIATION

At 1 April 2024

171,276

4,158

19,267

194,701

Charge for year

26,834

-

31,912

58,746

Eliminated on disposal

-

-

(27,353

)

(27,353

)

At 31 March 2025

198,110

4,158

23,826

226,094

NET BOOK VALUE

At 31 March 2025

25,750

-

131,810

157,560

At 31 March 2024

52,584

-

97,133

149,717

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

55,000

107,900

162,900

Additions

-

147,136

147,136

Disposals

-

(107,900

)

(107,900

)

At 31 March 2025

55,000

147,136

202,136

DEPRECIATION

At 1 April 2024

43,083

11,617

54,700

Charge for year

11,000

31,062

42,062

Eliminated on disposal

-

(27,353

)

(27,353

)

At 31 March 2025

54,083

15,326

69,409

NET BOOK VALUE

At 31 March 2025

917

131,810

132,727

At 31 March 2024

11,917

96,283

108,200

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

51,334

10,152

Other debtors

2,246

2,441

53,580

12,593

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

19,145

22,393

Trade creditors

14,798

28,801

Taxation and social security

13,879

10,028

Other creditors

40,365

1,186

88,187

62,408

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

130,496

82,762

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

149,641

105,155

The hire purchase creditor is secured on the asset purchased under the agreement.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2025 and the period ended 31 March 2024:

31.3.25

31.3.24

£

£

T S Wood

Balance outstanding at start of year

464

(9,400

)

Amounts advanced

-

20,098

Amounts repaid

(30,500

)

(10,234

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(30,036

)

464

J Ingram

Balance outstanding at start of year

-

(600

)

Amounts advanced

3

600

Amounts repaid

(30

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(27

)

-

These amounts owed to the Directors by the company are interest free and have no set terms of repayment.

10.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the period by Mr T S Wood by virtue of him holding the majority of the issued ordinary share capital of the company.