Balance sheet continued

As at 30 April 2025

	Notes	2025 £	2024 £
Capital and reserves
Called up share capital:		100	100
Profit and loss account:		9,191	11,257
Shareholders funds:		9,291	11,357

For the year ending 30 April 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 April 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents amounts receivable for racewear net of VAT and trade discounts.

  Tangible fixed assets depreciation policy

  Annual depreciation of equipment is calculated at 25% of cost to write off the cost of the asset, less its residual value, over its estimated useful economic life.

  Valuation information and policy

  Stock is valued at the lower of cost and net relisable value, after making allowances for obsolete and slow moving items. Cost includes all direct expenditure and overheads.