Company registration number 14938632 (England and Wales)
RACING GREEN CAR STORAGE LIMITED
Unaudited financial statements
For the year ended 30 June 2025
Pages for filing with registrar
RACING GREEN CAR STORAGE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RACING GREEN CAR STORAGE LIMITED
BALANCE SHEET
As at 30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
3
170,458
164,998
Current assets
Debtors
4
10,553
27,361
Cash at bank and in hand
14,436
13,879
24,989
41,240
Creditors: amounts falling due within one year
5
(7,625)
(10,785)
Net current assets
17,364
30,455
Total assets less current liabilities
187,822
195,453
Creditors: amounts falling due after more than one year
6
(78,000)
(69,985)
Net assets
109,822
125,468
Capital and reserves
Called up share capital
126,000
117,125
Share premium account
88,000
51,190
Profit and loss reserves
(104,178)
(42,847)
Total equity
109,822
125,468
RACING GREEN CAR STORAGE LIMITED
BALANCE SHEET (CONTINUED)
As at 30 June 2025
- 2 -

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 2 March 2026 and are signed on its behalf by:
Mr O J M Hagger
Director
Company registration number 14938632 (England and Wales)
RACING GREEN CAR STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2025
- 3 -
1
Accounting policies
Company information

Racing Green Car Storage Limited is a private company limited by shares incorporated in England and Wales. The registered office is Connect House, 133-137 Alexandra Road, London, SW19 7JY.

1.1
Accounting convention

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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% on cost
Fixtures and fittings
25% on cost
Motor vehicles
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

RACING GREEN CAR STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Leases
RACING GREEN CAR STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2025
1
Accounting policies
(Continued)
- 5 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

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

2025
2024
Number
Number
Total
1
0
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2024
107,162
65,109
172,271
Additions
-
0
24,304
24,304
At 30 June 2025
107,162
89,413
196,575
Depreciation and impairment
At 1 July 2024
3,200
4,073
7,273
Depreciation charged in the year
10,716
8,128
18,844
At 30 June 2025
13,916
12,201
26,117
Carrying amount
At 30 June 2025
93,246
77,212
170,458
At 30 June 2024
103,962
61,036
164,998
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
9,538
3,086
Other debtors
1,015
24,275
10,553
27,361
RACING GREEN CAR STORAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,442
2,818
Taxation and social security
693
-
0
Other creditors
5,490
7,967
7,625
10,785
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
78,000
69,985
7
Related party transactions

Included in Other creditors are amounts due to one of the director of £78,000 (2024: £73,785) of which £78,000 (2024: £69,985) is due after more than one year. The amounts due are unsecured and non-interest bearing.

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