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Registered number: 12031694
Jake D Motorsports Limited
Financial Statements
For The Year Ended 30 June 2025
Gower Accountancy
Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12031694
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 7,969
Investments 5 85,499 86,950
85,499 94,919
CURRENT ASSETS
Debtors 6 10,032 6,310
Cash at bank and in hand 44,548 839,797
54,580 846,107
Creditors: Amounts Falling Due Within One Year 7 28,517 (288,246 )
NET CURRENT ASSETS (LIABILITIES) 83,097 557,861
TOTAL ASSETS LESS CURRENT LIABILITIES 168,596 652,780
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,992 ) (1,992 )
NET ASSETS 166,604 650,788
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 15,499 -
Profit and Loss Account 151,005 650,688
SHAREHOLDERS' FUNDS 166,604 650,788
Page 1
Page 2
For the year ending 30 June 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Dennis
Director
12/12/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Jake D Motorsports Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12031694 . The registered office is 250 Humberstone Road, Leicester, LE5 0EG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line Method
Computer Equipment 33.33% Straight Line Method
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income 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 liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 July 2024 13,962 10,433 24,395
Additions 707 - 707
Disposals (14,669 ) (10,433 ) (25,102 )
As at 30 June 2025 - - -
Depreciation
As at 1 July 2024 9,303 7,123 16,426
Disposals (9,303 ) (7,123 ) (16,426 )
As at 30 June 2025 - - -
Net Book Value
As at 30 June 2025 - - -
As at 1 July 2024 4,659 3,310 7,969
5. Investments
Other
£
Cost or Valuation
As at 1 July 2024 86,950
Disposals (16,950 )
Revaluations 15,499
As at 30 June 2025 85,499
Provision
As at 1 July 2024 -
As at 30 June 2025 -
Net Book Value
As at 30 June 2025 85,499
As at 1 July 2024 86,950
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 368 5,563
Other debtors 9,664 747
10,032 6,310
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - 12,341
Other creditors 290 3,595
Taxation and social security (28,807 ) 272,310
(28,517 ) 288,246
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
9. Reserves
Revaluation Reserve
£
Net investment property revaluation reserve 15,499
As at 30 June 2025 15,499
Page 5