REGISTERED NUMBER: 06714759 (England and Wales)

WEC MOTORSPORT LIMITED

Financial Statements

for the Year Ended 31 July 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

M D Cox

D W Cox

S J Smith

Secretary:

D J Watts

Registered office:

3rd Floor

86-90 Paul Street

London

EC2A 4NE

Registered number:

06714759 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Tangible assets

4

51,875

30,000

Current assets

Debtors

5

53,659

34,167

Cash at bank

25,524

4,157

79,183

38,324

Creditors

Amounts falling due within one year

6

(60,323

)

(63,865

)

Net current assets/(liabilities)

18,860

(25,541

)

Total assets less current liabilities

70,735

4,459

Capital and reserves

Called up share capital

1

1

Retained earnings

70,734

4,458

70,735

4,459

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 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:

M D Cox - Director

1.	Statutory information

Wec 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.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Revenue from contracts for the provision of services is recognised when invoiced, which in the course of this company's business occurs when the marine claim has been settled.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Motor vehicles:

Championship Car - 25% straight line.

Race day van - 25% straight line.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the Company's cash management.

Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

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.

3.	Employees and directors

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

4.	Tangible fixed assets

Motor

vehicles

£

Cost

At 1 August 2024

55,495

Additions

25,000

At 31 July 2025

80,495

Depreciation

At 1 August 2024

25,495

Charge for year

3,125

At 31 July 2025

28,620

Net book value

At 31 July 2025

51,875

At 31 July 2024

30,000

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

159

-

Amounts owed by group undertakings

23,500

17,900

Amounts owed by related parties

30,000

15,600

Other debtors

-

667

53,659

34,167

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

-

720

Amounts owed to group undertakings

4,400

-

Amounts owed to parent

32,329

17,329

Taxation and social security

20,191

305

Other creditors

3,403

45,511

60,323

63,865

7.	Ultimate controlling party

The Company's immediate, and ultimate parent undertaking is W.E. Cox Claims Group Limited, which has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

The ultimate parent company's registered office is 3rd Floor 86-90 Paul Street, London, England, EC2A 4NE.

The interest of the directors in that company's share capital can be found in the accounts of that company.