For the financial year ended 29 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

Timeline Television Motorsport Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 Acre Road, Reading, RG2 0SU.

The financial statements for the accounting reference period date 29 December 2024 have been prepared for a period up to 31 December 2024 as the company has taken advantage Section 390(3)(b) of the Companies Act 2006 in preparing its financial statements.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company traded and operated up to 31 December 2021 and became dormant following the transfer of its tangible assets to a fellow group company on 1 January 2022. The director has no plan's to close the company and therefore continues to adopt the going concern basis in preparing the annual report and accounts.true

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The average monthly number of persons (including directors) employed by the company during the year was:

The Ordinary A shares have full voting, dividend and distribution rights.

The company together with Timeline Television North Limited, Timeline Television Limited and its parent company Timeline Television Group Limited have entered into a composite agreement guaranteeing banking facilities provided by HSBC Invoice Finance UK Limited (HIF), HSBC Equipment Finance (HEF) and HSBC Bank plc. The securities include fixed charge over all present freehold and leasehold property, first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future, and first floating charge over all assets and undertakings both present and future.

The total balance outstanding to HSBC under the business loan facility was £2,330,141 (2023: £2,953,333).

The total balance outstanding to HIF was £883,552 (2023: £561,031).

The parent entity is Timeline Television Group Limited having its registered office at 8 Acre Road, Reading, RG2 0SU.

The ultimate controlling party is D McDonnell.

Timeline Television Group Limited is the parent undertaking of the smallest and largest group of undertakings to consolidate these financial statements.

Group accounts are available on request from the registered office: 8 Acre Road, Reading, RG2 0SU.