REGISTERED NUMBER: 04422490 (England and Wales)

Unaudited Financial Statements for the Year Ended 29 June 2025

for

G.Y.G. Karting Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr E G Davies

Mrs T K Davies

A D Davies

M L Davies

SECRETARY:

Mrs T K Davies

REGISTERED OFFICE:

Glan Y Gors Park

Cerrigydrudion

CORWEN

Denbighshire

LL21 0RU

REGISTERED NUMBER:

04422490 (England and Wales)

ACCOUNTANTS:

Cyfrifwyr Hill & Roberts

8a Chester Street

Mold

Flintshire

CH7 1EG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

713,820

733,610

713,820

733,610

CURRENT ASSETS

Stocks

19,890

19,840

Debtors

3,821

8,156

Cash at bank and in hand

152,479

50,566

176,190

78,562

CREDITORS

Amounts falling due within one year

207,141

199,196

NET CURRENT LIABILITIES

(30,951

)

(120,634

)

TOTAL ASSETS LESS CURRENT LIABILITIES

682,869

612,976

CREDITORS

Amounts falling due after more than one year

6

(345,036

)

(303,738

)

PROVISIONS FOR LIABILITIES

(40,095

)

(41,176

)

NET ASSETS

297,738

268,062

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

297,736

268,060

SHAREHOLDERS' FUNDS

297,738

268,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 29 June 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2025 and were signed on its behalf by:

Mr E G Davies - Director

1.	STATUTORY INFORMATION

G.Y.G. Karting 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 recognised when and to the extent that the company obtains the right to consideration, which is either the date the company raises an invoice or when a self billing invoice is received.Turnover excludes the effects of value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on cost and 12.5% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

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.

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.

Going concern

The directors are satisfied that they can continue to meet the day to day funding requirements of the company with the continuing support of the company bankers. The directors consider that it is appropriate to prepare the financial statements on a going concern basis and so the financial statements do not include any adjustments that would result if the financial support were withdrawn.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 30 June 2024

and 29 June 2025

20,250

AMORTISATION

At 30 June 2024

and 29 June 2025

20,250

NET BOOK VALUE

At 29 June 2025

-

At 29 June 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 30 June 2024

1,472,738

Additions

34,946

At 29 June 2025

1,507,684

DEPRECIATION

At 30 June 2024

739,128

Charge for year

54,736

At 29 June 2025

793,864

NET BOOK VALUE

At 29 June 2025

713,820

At 29 June 2024

733,610

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 30 June 2024

and 29 June 2025

164,250

DEPRECIATION

At 30 June 2024

47,813

Charge for year

12,612

At 29 June 2025

60,425

NET BOOK VALUE

At 29 June 2025

103,825

At 29 June 2024

116,437

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

29.6.25

29.6.24

£

£

Repayable by instalments

Bank loans more 5 yr by instal

148,189

163,345

Other loans more 5yrs instal

10,807

-

158,996

163,345

7.	SECURED DEBTS

The following secured debts are included within creditors:

29.6.25

29.6.24

£

£

Bank loans

245,695

271,097

£235,189 of the Loans outstanding (2024 - £250,345) are secured by a fixed and floating charge over the company and its property including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant & machinery.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 June 2025 and 29 June 2024:

29.6.25

29.6.24

£

£

Mr E G Davies

Balance outstanding at start of year

(8,568

)

(1,129

)

Amounts advanced

5,909

9,714

Amounts repaid

(3,242

)

(17,153

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(5,901

)

(8,568

)

9.	RELATED PARTY DISCLOSURES

During the year ended 29 June 2025 circuit hire to the value of £156,500 (£136,500 - 2024) was invoiced to Dragon Kart Club Ltd, a company which is under common control, and which was paid in the year.

In the year ended 29 June 2021, Dragon Kart Club Limited extended a short term interest free loan of £40,876 the balance at 29 June 2025 was £501.