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

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

Alliance Racing Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Warwick Road Business Centre, Warwick Road, Maltby, Rotherham, S66 8EW.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation

of certain financial assets and liabilities and investment properties measured at fair value through profit

or loss.

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 £.

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

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

depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation

less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other

comprehensive income and accumulated in capital and reserves, except to the extent it reverses a

revaluation decrease of the same asset previously recognised in profit or loss.

A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive

income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in

respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains

accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or

loss.

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:

If there is an indication that there has been a significant change in depreciation rate, useful life or

residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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.

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

are largely independent of the cash inflows from other assets or groups of assets.

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks

to their present location and condition.

A financial asset or a financial liability is recognised only when the company becomes a party to the

contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement

constitutes a financing transaction, where it is recognised at the present value of the future payments

discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or

preference shares are publicly traded or their fair value can otherwise be measured reliably, the

investment is subsequently measured at fair value with changes in fair value recognised in profit or loss.

All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment

for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a

market rate, in which case the asset is measured at the present value of the future payments

discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in

profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of

impairment at the end of each reporting date. If there is objective evidence of impairment, an

impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually

significant, these are assessed individually for impairment. Other financial assets or either assessed

individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal

does not result in a carrying amount of the financial asset that exceeds what the carrying amount would

have been had the impairment not previously been recognised.

The taxation expense represents the aggregate amount of current and deferred tax recognised in the

reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that

it relates to items recognised in other comprehensive income or directly in capital and reserves. In this

case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax

losses and other deferred tax assets are recognised to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is

measured using the tax rates and laws that have been enacted or substantively enacted by the

reporting date that are expected to apply to the reversal of the timing difference.

The average monthly number of persons (including directors) employed by the company during the year was: