Amo Racing Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04915617

Amo Racing Limited

Filleted Unaudited Financial Statements

For the period ended

31 December 2024

Amo Racing Limited

Statement of Financial Position

31 December 2024

	31 Dec 24		27 Mar 24
Note	£	£	£	£

Fixed assets

Tangible assets	5	155,728	164,222
Investments	6	388,930	102
		---------	---------
		544,658	164,324

Current assets

Stocks		64,028,371	19,864,418
Debtors	7	23,028,908	2,887,195
Cash at bank and in hand		6,130,377	1,115,831
		-------------	-------------
		93,187,656	23,867,444

Creditors: amounts falling due within one year	8	109,494,610		34,886,363
		---------------		-------------
Net current liabilities			16,306,954		11,018,919
			-------------		-------------
Total assets less current liabilities			( 15,762,296)		( 10,854,595)

Creditors: amounts falling due after more than one year	9	–	407,008
		-------------	-------------
Net liabilities		( 15,762,296)	( 11,261,603)
		-------------	-------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 15,762,396)	( 11,261,703)
	-------------	-------------
Shareholders deficit	( 15,762,296)	( 11,261,603)
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Amo Racing Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 December 2025 , and are signed on behalf of the board by:

Mr K Joorabchian
Director

Company registration number: 04915617

Amo Racing Limited

Notes to the Financial Statements

Period from 28 March 2024 to 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lushington House, 119 High Street, Newmarket, Suffolk, CB8 9AE, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis including any prior year adjustments. The financial statements are prepared in sterling, which is the functional currency of the entity.

Investment properties

Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Going concern

The company is financed by the director and third party creditors, they have confirmed they intend to support the company for the foreseeable future. The director believes the company is therefore a going concern.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Revenue recognition

Turnover is measured at the fair value of consideration received or receivable in respect of prize money, sponsorship, lease fees and sale of bloodstock and recharges which are net of discounts and Value Added Tax. Prize money is recognised on receipt from the British Horse Association. Sponsorship income is recognised on receipt from the British Horse Association or per the contract agreement. Sponsorship income is deferred if the contract period differs to the accounting year end. Lease fees income is recognised per the contract agreements. Sale of bloodstock income is recognised when the ownership of bloodstock passes from the seller to the buyer. Stallion income is recognised on an accruals basis per the contractual stallion agreement when the company is entitled to it's share of the stallion income. Recharge income is recognised on an accruals basis and recharged income is matched with expenditure which is to be recharged.

Income tax

The taxation expense represents the aggregate amount of current recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	20% Straight line
Plant and machinery	-	See below
Motor vehicles	-	10 years residual value & 25% Reducing balance
Equipment	-	25% straight line

Plant and machinery - The company depreciates tangible assets over their estimated useful life unless the asset has an indefinite life, in which case it is reviewed annually for impairment.

Investments in group undertakings

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Stocks

Stock comprises bloodstock (stallions, mares and foals) held for the purposes of breeding and racing. Such assets are stated at the lower of cost and net realisable value (selling price less costs to sell). Where a write down is identified, the value of the stock is reduced and the reduction immediately charged in the profit and loss account. A transfer is made between breeding and racing when the purpose of the bloodstock changes. The transfer value is based on the net realisable value of the bloodstock as at the date of transfer.

Defined contribution plans

The company operates an auto-enrolment scheme for all employees. The assets of the pension scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 4 (2024: 3 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 28 March 2024	–	34,407	144,422	–	178,829
Additions	8,000	2,026	–	834	10,860
	-------	--------	---------	----	---------
At 31 December 2024	8,000	36,433	144,422	834	189,689
	-------	--------	---------	----	---------
Depreciation
At 28 March 2024	–	210	14,397	–	14,607
Charge for the period	3,467	547	15,201	139	19,354
	-------	--------	---------	----	---------
At 31 December 2024	3,467	757	29,598	139	33,961
	-------	--------	---------	----	---------
Carrying amount
At 31 December 2024	4,533	35,676	114,824	695	155,728
	-------	--------	---------	----	---------
At 27 March 2024	–	34,197	130,025	–	164,222
	-------	--------	---------	----	---------

6. Investments

	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 28 March 2024	102	–	102
Additions	–	388,830	388,830
Disposals	( 2)	–	( 2)
	----	---------	---------
At 31 December 2024	100	388,830	388,930
	----	---------	---------
Impairment
At 28 March 2024 and 31 December 2024	–	–	–
	----	---------	---------

Carrying amount
At 31 December 2024	100	388,830	388,930
	----	---------	---------
At 27 March 2024	102	–	102
	----	---------	---------

7. Debtors

	31 Dec 24	27 Mar 24
	£	£
Trade debtors	637,035	204,135
Amounts owed by group undertakings and undertakings in which the company has a participating interest	11,973,897	–
Other debtors	10,417,976	2,683,060
	-------------	------------
	23,028,908	2,887,195
	-------------	------------

8. Creditors: amounts falling due within one year

	31 Dec 24	27 Mar 24
	£	£
Trade creditors	25,161,925	1,381,522
Amounts owed to group undertakings and undertakings in which the company has a participating interest	32,211,881	15,164,491
Social security and other taxes	6,658	5,011
Other creditors	52,114,146	18,335,339
	---------------	-------------
	109,494,610	34,886,363
	---------------	-------------

In other creditors there is an intra group loan which is secured by a fixed and floating charge against all of the company's assets .

9. Creditors: amounts falling due after more than one year

	31 Dec 24	27 Mar 24
	£	£
Other creditors	–	407,008
	----	---------

10. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2024
	£	£
Within one year	36,000	36,000
Between one and five years	66,900	93,900