Company Registration No. 04951721 (England and Wales)
Racing-systems.co.uk Limited
Unaudited accounts
for the year ended 31 March 2025
Racing-systems.co.uk Limited
Statement of financial position
as at 31 March 2025
Intangible assets
108,732
108,235
Cash at bank and in hand
64,638
61,890
Creditors: amounts falling due within one year
(79,578)
(53,886)
Net current (liabilities)/assets
(14,940)
8,004
Total assets less current liabilities
93,793
116,241
Provisions for liabilities
Deferred tax
(7,383)
(7,259)
Called up share capital
2
2
Revaluation reserve
32,555
29,036
Profit and loss account
53,853
79,944
Shareholders' funds
86,410
108,982
For the year ending 31 March 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 December 2025 and were signed on its behalf by
Michael McGuiggan
Director
Company Registration No. 04951721
Racing-systems.co.uk Limited
Notes to the Accounts
for the year ended 31 March 2025
Racing-systems.co.uk Limited is a private company, limited by shares, registered in England and Wales, registration number 04951721. The registered office is Elliot Woolfe & Rose Ltd, Devonshire House, 582 Honeypot Lane, Stanmore, Middlesex, HA7 1JS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Having reviewed the resources available the director of Racing-systems.co.uk Limited believes that the company has adequate resources to continue in operational existence for the next 12 months from the date of signing. The directors of racing-systems.co.uk believe there is no material uncertainty over the company's ability to meet its ongoing obligations. Accordingly, Racing-systems.co.uk Limited continues to adopt the going concern basis in preparing the financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% Straight Line
Intangible fixed assets consist of website development and cryptocurrency. Website development is included at cost less accumulated amortisation. Cryptocurrency is included at cost plus any subsequent revaluation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of gambling advice 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.
Investments are valued at cost less accumulated impairment.
Racing-systems.co.uk Limited
Notes to the Accounts
for the year ended 31 March 2025
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Computer equipment
6
Investments
Other investments
Valuation at 1 April 2024
2
Valuation at 31 March 2025
1
Racing-systems.co.uk Limited
Notes to the Accounts
for the year ended 31 March 2025
7
Creditors: amounts falling due within one year
2025
2024
Loans from directors
77,197
51,705
8
Deferred taxation
2025
2024
Other deferred taxation
7,383
7,259
Provision at start of year
7,259
-
Charged to the profit and loss account
124
7,259
Provision at end of year
7,383
7,259
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 2 (2024: 2).