REGISTERED NUMBER: 11082977 (England and Wales)

MAYFIELD MOTOR SPORTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A Coleman

REGISTERED OFFICE:

15 High Street

Brackley

Northamptonshire

NN13 7DH

REGISTERED NUMBER:

11082977 (England and Wales)

ACCOUNTANTS:

Blencowes

15 High Street

Brackley

Northamptonshire

NN13 7DH

FIXED ASSETS

Tangible assets

4

15,897

33,725

Investments

5

103,524

215,276

119,421

249,001

CURRENT ASSETS

Debtors

6

817,300

840,755

Cash at bank

101,581

405,139

918,881

1,245,894

CREDITORS

Amounts falling due within one year

7

75,588

318,003

NET CURRENT ASSETS

843,293

927,891

TOTAL ASSETS LESS CURRENT LIABILITIES

962,714

1,176,892

PROVISIONS FOR LIABILITIES

1,524

-

NET ASSETS

961,190

1,176,892

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

961,090

1,176,792

SHAREHOLDERS' FUNDS

961,190

1,176,892

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 director acknowledges her 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 director and authorised for issue on 28 December 2025 and were signed by:

Mrs A Coleman - Director

1.	STATUTORY INFORMATION

Mayfield Motor Sports 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 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:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from consultancy income is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to consultancy income.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets

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

Fixtures and fittings

-

33% on Cost

Motor vehicles

-

33% on cost

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.

Foreign currencies

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

8,963

59,279

6,222

74,464

Disposals

-

(26,619

)

-

(26,619

)

At 31 March 2025

8,963

32,660

6,222

47,845

DEPRECIATION

At 1 April 2024

4,475

32,849

3,415

40,739

Charge for year

1,496

7,712

936

10,144

Eliminated on disposal

-

(18,935

)

-

(18,935

)

At 31 March 2025

5,971

21,626

4,351

31,948

NET BOOK VALUE

At 31 March 2025

2,992

11,034

1,871

15,897

At 31 March 2024

4,488

26,430

2,807

33,725

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

215,276

Additions

154,141

Disposals

(265,893

)

At 31 March 2025

103,524

NET BOOK VALUE

At 31 March 2025

103,524

At 31 March 2024

215,276

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

-

2,775

Directors' current accounts

90,685

95,465

Tax

15,344

15,344

VAT

-

10,767

Deferred tax asset

-

1,975

Prepayments and accrued income

-

4,577

106,029

130,903

Amounts falling due after more than one year:

Amounts owed by associates

711,271

709,852

Aggregate amounts

817,300

840,755

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

-

1,934

Trade creditors

4,009

40,706

Tax

55,850

64,461

Social security and other taxes

4,996

2,151

VAT

7,421

-

Other creditors

312

1,224

Accruals and deferred income

3,000

207,527

75,588

318,003

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2025

2024

£

£

Mrs A Coleman

Balance outstanding at start of year

95,465

99,648

Amounts advanced

45,220

144,817

Amounts repaid

(50,000

)

(149,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

90,685

95,465

The Director has been charged interest on the over drawn loan account at the official rate of interest of 2.25%. The director repaid her loan account in full on 28 December 2025.