REGISTERED NUMBER: OC366655 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Heart of the South Racing LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs E C Adamski

Mr J R Penny

REGISTERED OFFICE:

The Paddocks

Barn Lane

Framfield

Uckfield

East Sussex

TN22 5RX

REGISTERED NUMBER:

OC366655 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Tangible assets

4

14,607

22,272

CURRENT ASSETS

Debtors

5

107,885

130,404

Cash at bank and in hand

68,903

84,549

176,788

214,953

CREDITORS

Amounts falling due within one year

6

121,926

161,747

NET CURRENT ASSETS

54,862

53,206

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

69,469

75,478

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

69,469

75,478

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

69,469

75,478

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 30 December 2025 and were signed by:

Mrs E C Adamski - Designated member

1.	STATUTORY INFORMATION

Heart of the South Racing LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents revenue, net of VAT, from commercial transactions under which the entity supplies customers the goods and services that it is in business to provide and is recognised when it obtains, through performance under contract, the right to consideration for those goods and services.

Tangible fixed assets

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

Plant & equipment

-

25% on cost

Office equipment

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Financial instruments

Fixed asset investments are measured at fair value with any changes included in the profit and loss account for the year.

Pension costs and other post-retirement benefits

The partnership contributes to its employee's pension scheme. Contributions payable by the partnership are charged to the profit and loss account in the period to which they relate.

Members

A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Plant &

Office

Motor

Computer

equipment

equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

7,104

25,734

46,490

1,732

81,060

Additions

-

721

-

-

721

At 31 March 2025

7,104

26,455

46,490

1,732

81,781

DEPRECIATION

At 1 April 2024

7,071

25,488

24,497

1,732

58,788

Charge for year

18

370

7,998

-

8,386

At 31 March 2025

7,089

25,858

32,495

1,732

67,174

NET BOOK VALUE

At 31 March 2025

15

597

13,995

-

14,607

At 31 March 2024

33

246

21,993

-

22,272

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

49,202

77,904

Other debtors

58,683

52,500

107,885

130,404

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

102,105

126,640

Taxation and social security

14,656

27,509

Other creditors

5,165

7,598

121,926

161,747

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.