REGISTERED NUMBER: 06430094 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Lydden Hill Race Circuit Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Doran

Ms H Bennett

SECRETARY:

Ms H L Bennett

REGISTERED OFFICE:

67 Westow Street

Upper Norwood

London

SE19 3RW

REGISTERED NUMBER:

06430094 (England and Wales)

ACCOUNTANTS:

Thornton Springer LLP

Chartered Accountants

67 Westow Street

London

SE19 3RW

FIXED ASSETS

Tangible assets

4

2,445,680

1,771,787

CURRENT ASSETS

Debtors

5

336,221

490,714

Cash at bank and in hand

43,980

3,167

380,201

493,881

CREDITORS

Amounts falling due within one year

6

(3,458,420

)

(2,977,065

)

NET CURRENT LIABILITIES

(3,078,219

)

(2,483,184

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(632,539

)

(711,397

)

CREDITORS

Amounts falling due after more than one year

7

(23,742

)

(29,925

)

PROVISIONS FOR LIABILITIES

-

(4,367

)

NET LIABILITIES

(656,281

)

(745,689

)

CAPITAL AND RESERVES

Called up share capital

1,000,000

1,000,000

Retained earnings

(1,656,281

)

(1,745,689

)

SHAREHOLDERS' FUNDS

(656,281

)

(745,689

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

Ms H Bennett - Director

1.	STATUTORY INFORMATION

Lydden Hill Race Circuit 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.

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.

Improvements to property

-

not provided

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

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.

Hire purchase and leasing commitments

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.

Going concern

The company's liabilities exceed assets by £656,281. However, the directors have undertaken to continue to support the company financially until the company is able to fund its own operations from realised profits. On this basis the director considers it appropriate to prepare accounts on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

1,632,297

73,901

188,258

Additions

485,640

-

2,779

Disposals

-

-

-

At 31 December 2024

2,117,937

73,901

191,037

DEPRECIATION

At 1 January 2024

-

51,993

111,961

Charge for year

-

3,286

11,665

Eliminated on disposal

-

-

-

At 31 December 2024

-

55,279

123,626

NET BOOK VALUE

At 31 December 2024

2,117,937

18,622

67,411

At 31 December 2023

1,632,297

21,908

76,297

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

68,327

49,150

2,011,933

Additions

208,091

11,879

708,389

Disposals

(28,930

)

-

(28,930

)

At 31 December 2024

247,488

61,029

2,691,392

DEPRECIATION

At 1 January 2024

41,439

34,753

240,146

Charge for year

7,293

3,347

25,591

Eliminated on disposal

(20,025

)

-

(20,025

)

At 31 December 2024

28,707

38,100

245,712

NET BOOK VALUE

At 31 December 2024

218,781

22,929

2,445,680

At 31 December 2023

26,888

14,397

1,771,787

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

211,884

170,746

Other debtors

124,337

319,968

336,221

490,714

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

19,727

26,570

Hire purchase contracts

2,179

-

Trade creditors

191,230

100,020

Taxation and social security

13,733

26,202

Other creditors

3,231,551

2,824,273

3,458,420

2,977,065

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

3,833

-

Other creditors

19,909

29,925

23,742

29,925