REGISTERED NUMBER: 04654953 (England and Wales)

CIRCUIT 2 CIRCUIT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L A Pettifer

T L Pettifer

SECRETARY:

T L Pettifer

REGISTERED OFFICE:

Wood Farm

Tiffield

Northamptonshire

NN12 7HZ

REGISTERED NUMBER:

04654953 (England and Wales)

ACCOUNTANTS:

Blencowes

15 High Street

Brackley

Northamptonshire

NN13 7DH

FIXED ASSETS

Tangible assets

4

580,749

627,055

CURRENT ASSETS

Debtors

5

844,062

770,303

Cash at bank and in hand

1,259,756

856,605

2,103,818

1,626,908

CREDITORS

Amounts falling due within one year

6

358,754

128,337

NET CURRENT ASSETS

1,745,064

1,498,571

TOTAL ASSETS LESS CURRENT LIABILITIES

2,325,813

2,125,626

PROVISIONS FOR LIABILITIES

142,027

153,571

NET ASSETS

2,183,786

1,972,055

CAPITAL AND RESERVES

Called up share capital

7

200

2

Revaluation reserve

8

185,460

185,460

Retained earnings

1,998,126

1,786,593

SHAREHOLDERS' FUNDS

2,183,786

1,972,055

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 2 December 2025 and were signed on its behalf by:

L A Pettifer - Director

T L Pettifer - Director

1.	STATUTORY INFORMATION

Circuit 2 Circuit Ltd 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 is rounded to the nearest 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Revenues are recognised on the profit and loss account in the period when realised and earned, which is once the company has the obligation to receive the income.

Tangible fixed assets

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

Improvements to property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Commercial vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 taxation

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within on year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1 April 2024

25,432

137,212

11,220

Additions

-

62,219

-

Disposals

-

(21,500

)

-

At 31 March 2025

25,432

177,931

11,220

DEPRECIATION

At 1 April 2024

6,391

59,970

9,964

Charge for year

508

23,528

314

Eliminated on disposal

-

(12,430

)

-

At 31 March 2025

6,899

71,068

10,278

NET BOOK VALUE

At 31 March 2025

18,533

106,863

942

At 31 March 2024

19,041

77,242

1,256

Commercial

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

694,265

12,436

880,565

Additions

57,200

582

120,001

Disposals

-

-

(21,500

)

At 31 March 2025

751,465

13,018

979,066

DEPRECIATION

At 1 April 2024

166,101

11,084

253,510

Charge for year

132,044

843

157,237

Eliminated on disposal

-

-

(12,430

)

At 31 March 2025

298,145

11,927

398,317

NET BOOK VALUE

At 31 March 2025

453,320

1,091

580,749

At 31 March 2024

528,164

1,352

627,055

Cost or valuation at 31 March 2025 is represented by:

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

Valuation in 2022

25,432

137,000

11,220

Valuation in 2024

-

212

-

Valuation in 2025

-

40,719

-

25,432

177,931

11,220

Commercial

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2022

218,000

10,489

402,141

Valuation in 2023

212,895

-

212,895

Valuation in 2024

263,370

1,947

265,529

Valuation in 2025

57,200

582

98,501

751,465

13,018

979,066

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

297,915

171,505

Amounts owed by associates

540,000

550,000

Other debtors

4,039

47,870

Prepayments

2,108

928

844,062

770,303

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

142,822

45,389

Tax

117,573

68,372

Social security and other taxes

2,528

2,736

Pension control

474

347

VAT

58,714

4,284

Other creditors

2,169

740

Directors' current accounts

28,224

681

Accrued expenses

6,250

5,788

358,754

128,337

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

190

Ordinary

£1

190

2

10

Ordinary B

£1

10

-

200

2

The following shares were allotted and fully paid for cash at par during the year:

188 Ordinary shares of £1 each

10 Ordinary B shares of £1 each

8.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

185,460