Registration number: 07121090

Keith Hodson Racing Limited

(Registration number: 07121090)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	8,333	20,000
Tangible assets	5	14,006	780
		22,339	20,780
Current assets
Debtors	6	28,360	6,336
Cash at bank and in hand		243,804	106,226
		272,164	112,562
Creditors: Amounts falling due within one year	7	(68,735)	(43,818)
Net current assets		203,429	68,744
Net assets		225,768	89,524
Capital and reserves
Called up share capital		100	100
Retained earnings		225,668	89,424
Shareholders' funds		225,768	89,524

Keith Hodson Racing Limited

(Registration number: 07121090)
Statement of Financial Position as at 31 March 2025

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:
 

......................................... Mr K D Hodson Director

Keith Hodson Racing Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Cairnside South
Sunderland
Tyne and Wear
SR3 3LS

These financial statements were authorised for issue by the Board on 23 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and 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.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of gambling and betting services. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Keith Hodson Racing Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and Fittings	20% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% Straight Line

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Keith Hodson Racing Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

Financial instruments

Classification
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 entity after deducting all of its financial liabilities.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 10 (2024 - 12).

Keith Hodson Racing Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 February 2024	200,000	200,000
At 31 March 2025	200,000	200,000
Amortisation
At 1 February 2024	180,000	180,000
Amortisation charge	11,667	11,667
At 31 March 2025	191,667	191,667
Carrying amount
At 31 March 2025	8,333	8,333
At 31 January 2024	20,000	20,000

5	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 February 2024	79,199	79,199
Additions	17,686	17,686
Disposals	(44,323)	(44,323)
At 31 March 2025	52,562	52,562
Depreciation
At 1 February 2024	78,419	78,419
Charge for the period	4,459	4,459
Eliminated on disposal	(44,322)	(44,322)
At 31 March 2025	38,556	38,556
Carrying amount
At 31 March 2025	14,006	14,006
At 31 January 2024	780	780

Keith Hodson Racing Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 31 March 2025

6

Debtors

Current	2025 £	2024 £
Prepayments	246	666
Other debtors	28,114	5,670
	28,360	6,336

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	40,504	4,144
Accruals and deferred income	9,293	11,591
Other creditors	18,938	28,083
	68,735	43,818

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	16,000	16,000

The amount of non-cancellable operating lease payments recognised as an expense during the period was £16,000 (2024 - £16,000).

9	Related party transactions

Transactions with directors

2025	At 1 February 2024 £	Advances to director £	At 31 March 2025 £
Loan to director	-	27,231	27,231