REGISTERED NUMBER: 02324890 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

EAGLE RACING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H J Pearman

Ms K J Ibberson

SECRETARY:

Ms K J Ibberson

REGISTERED OFFICE:

1 Bligh's Road

Sevenoaks

Kent

TN13 1DA

REGISTERED NUMBER:

02324890 (England and Wales)

AUDITORS:

Greenaway Chartered Accountants

and Statutory Auditors

1 Bligh's Road

Sevenoaks

Kent

TN13 1DA

FIXED ASSETS

Tangible assets

4

304,532

315,421

CURRENT ASSETS

Stocks

5

30,711,341

25,969,128

Debtors

6

7,341,827

7,295,014

Cash at bank and in hand

360,509

586

38,413,677

33,264,728

CREDITORS

Amounts falling due within one year

7

19,667,287

12,304,007

NET CURRENT ASSETS

18,746,390

20,960,721

TOTAL ASSETS LESS CURRENT LIABILITIES

19,050,922

21,276,142

CREDITORS

Amounts falling due after more than one year

8

(428,867

)

(4,002,333

)

PROVISIONS FOR LIABILITIES

(42,084

)

(25,131

)

NET ASSETS

18,579,971

17,248,678

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

18,579,871

17,248,578

SHAREHOLDERS' FUNDS

18,579,971

17,248,678

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 15 December 2025 and were signed on its behalf by:

H J Pearman - Director

1.	STATUTORY INFORMATION

Eagle Racing 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 recognised when a sale or work undertaken on a vehicle has been finalised and the transportation of vehicle has either been arranged or taken place.

Tangible fixed assets

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

Plant and machinery etc

-

10% on cost

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value.

Assets obtained under hire purchase contracts are classified under stock. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

1,624,911

Additions

67,053

At 31 March 2025

1,691,964

DEPRECIATION

At 1 April 2024

1,309,490

Charge for year

77,942

At 31 March 2025

1,387,432

NET BOOK VALUE

At 31 March 2025

304,532

At 31 March 2024

315,421

5.

STOCKS

31/3/25

31/3/24

£

£

Stocks

26,187,470

22,037,851

Work-in-progress

4,523,871

3,931,277

30,711,341

25,969,128

Included in the stock are assets valued at £5,195,000 (2024: £4,674,165) held for re-sale that are on hire purchase and the ownership of those goods remain with the providers of finance until hire purchase has been settled, when ownership is then transferred to the company.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

1,197,672

243,867

Other debtors

6,144,155

7,051,147

7,341,827

7,295,014

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts

-

1,206,204

Hire purchase contracts

3,927,539

220,901

Trade creditors

4,080,385

2,529,853

Taxation and social security

515,813

98,998

Other creditors

11,143,550

8,248,051

19,667,287

12,304,007

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Hire purchase contracts

428,867

4,002,333

9.	SECURED DEBTS

An unlimited guarantee given by Mr H Pearman dated 10 February 1995 is in respect of the bank overdraft facility.

A Debenture dated 14 June 2018 in favour of Barclays Bank PLC which includes fixed and floating charges over all the property and undertakings of the company.

There are three Chattel Mortgages dated 24 June 2014, 14 June 2016 and 4 February 2019 on all monies due or to become due from the company to the chargee on any account whatsoever.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

31/3/24

value:

£

£

100

Ordinary

£1

100

100

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Lovitt (Senior Statutory Auditor)

for and on behalf of Greenaway Chartered Accountants

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31/3/25

31/3/24

£

£

H J Pearman and Ms K J Ibberson

Balance outstanding at start of year

(9,480

)

(4,706

)

Amounts advanced

360,379

321,483

Amounts repaid

(518,936

)

(326,257

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(168,037

)

(9,480

)

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £150,000 were paid to the directors .

During the year, the company sold goods totalling £1,773,528 (2024: £481,383) and purchased goods totalling £2,246,574 (2024: £nil) from companies under the common control of the director. At the year end, trade receivables of £1,197,672 (2024: £180,117) and trade payables of £2,707,523 (2024: £2,707,523), and other loans of £5,122,881 (2024: £3,555,430) were due from/to these companies. Transactions were conducted at market prices and settled under normal credit terms.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is H J Pearman.

The ultimate controlling party is H J Pearman.

The company was controlled throughout the current and prior year by H Pearman, a director and the sole shareholder.