Harry Whittington Racing Limited 10941157 false 2024-08-01 2025-07-31 2025-07-31 The principal activity of the company is the pre-training and rehabilitation of thoroughbred racehorses. Digita Accounts Production Advanced 6.30.9574.0 true 10941157 2024-08-01 2025-07-31 10941157 2025-07-31 10941157 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-07-31 10941157 core:CurrentFinancialInstruments 2025-07-31 10941157 core:CurrentFinancialInstruments core:WithinOneYear 2025-07-31 10941157 core:Non-currentFinancialInstruments 2025-07-31 10941157 core:Non-currentFinancialInstruments core:AfterOneYear 2025-07-31 10941157 core:FurnitureFittings 2025-07-31 10941157 core:LandBuildings core:LongLeaseholdAssets 2025-07-31 10941157 core:MotorVehicles 2025-07-31 10941157 core:OfficeEquipment 2025-07-31 10941157 core:PlantMachinery 2025-07-31 10941157 bus:SmallEntities 2024-08-01 2025-07-31 10941157 bus:AuditExemptWithAccountantsReport 2024-08-01 2025-07-31 10941157 bus:FilletedAccounts 2024-08-01 2025-07-31 10941157 bus:SmallCompaniesRegimeForAccounts 2024-08-01 2025-07-31 10941157 bus:RegisteredOffice 2024-08-01 2025-07-31 10941157 bus:Director1 2024-08-01 2025-07-31 10941157 bus:PrivateLimitedCompanyLtd 2024-08-01 2025-07-31 10941157 core:FurnitureFittings 2024-08-01 2025-07-31 10941157 core:LandBuildings core:LongLeaseholdAssets 2024-08-01 2025-07-31 10941157 core:LeaseholdImprovements 2024-08-01 2025-07-31 10941157 core:MotorVehicles 2024-08-01 2025-07-31 10941157 core:OfficeEquipment 2024-08-01 2025-07-31 10941157 core:PlantMachinery 2024-08-01 2025-07-31 10941157 countries:EnglandWales 2024-08-01 2025-07-31 10941157 2024-07-31 10941157 core:FurnitureFittings 2024-07-31 10941157 core:LandBuildings core:LongLeaseholdAssets 2024-07-31 10941157 core:MotorVehicles 2024-07-31 10941157 core:OfficeEquipment 2024-07-31 10941157 core:PlantMachinery 2024-07-31 10941157 2023-08-01 2024-07-31 10941157 2024-07-31 10941157 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-07-31 10941157 core:CurrentFinancialInstruments 2024-07-31 10941157 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 10941157 core:Non-currentFinancialInstruments 2024-07-31 10941157 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 10941157 core:FurnitureFittings 2024-07-31 10941157 core:LandBuildings core:LongLeaseholdAssets 2024-07-31 10941157 core:MotorVehicles 2024-07-31 10941157 core:OfficeEquipment 2024-07-31 10941157 core:PlantMachinery 2024-07-31 iso4217:GBP xbrli:pure

Registration number: 10941157

Harry Whittington Racing Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 July 2025

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 7

(Registration number: 10941157)
Balance Sheet as at 31 July 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 734,262 | 721,605
Current assets |  |  |
Stocks | 5 | 19,391 | 9,950
Debtors | 6 | 110,524 | 58,778
Cash at bank and in hand |  | 1,817 | 1,482
|  | 131,732 | 70,210
Creditors: Amounts falling due within one year | 7 | (262,525) | (553,465)
Net current liabilities |  | (130,793) | (483,255)
Total assets less current liabilities |  | 603,469 | 238,350
Creditors: Amounts falling due after more than one year | 7 | (425,519) | (132,415)
Provisions for liabilities |  | (35,822) | (31,973)
Net assets |  | 142,128 | 73,962
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 142,028 | 73,862
Shareholders' funds |  | 142,128 | 73,962

(Registration number: 10941157)
Balance Sheet as at 31 July 2025

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2026 and signed on its behalf by:

......................................... Mr Christopher Henry Oliver Whittington Director

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of pre-training and associated services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Property improvements | Nil
Plant and machinery | 25% reducing balance
Fixtures and fittings | 25% reducing balance
Motor vehicles | 25% reducing balance
Office equipment | 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 8).

4 | Tangible assets

| Property improvements £ | Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 August 2024 | 690,392 | 1,349 | 90,439 | 2,722 | 26,446 | 811,348
Additions | 18,550 | - | 2,083 | - | - | 20,633
At 31 July 2025 | 708,942 | 1,349 | 92,522 | 2,722 | 26,446 | 831,981
Depreciation
At 1 August 2024 | - | 1,049 | 64,040 | 2,031 | 22,622 | 89,742
Charge for the year | - | 75 | 6,773 | 173 | 956 | 7,977
At 31 July 2025 | - | 1,124 | 70,813 | 2,204 | 23,578 | 97,719
Carrying amount
At 31 July 2025 | 708,942 | 225 | 21,709 | 518 | 2,868 | 734,262
At 31 July 2024 | 690,391 | 300 | 26,399 | 691 | 3,824 | 721,605

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

5 | Stocks

| 2025 £ | 2024 £
Deadstock | 9,750 | 9,750
Bloodstock | 9,641 | 200
| 19,391 | 9,950

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 104,971 | 49,298
Prepayments | - | 3,927
Other debtors | 5,553 | 5,553
| 110,524 | 58,778

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 13,183 | 162,747
Trade creditors |  | 136,016 | 232,259
Taxation and social security |  | 84,680 | 122,032
Other creditors |  | 28,646 | 36,427
|  | 262,525 | 553,465

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 425,519 | 132,415

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 6,238 | 129,694
Bank overdrafts | 6,301 | 25,604
Hire purchase contracts | 644 | 7,449
| 13,183 | 162,747

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 25,941 | 32,179
Other borrowings | 399,578 | 100,236
| 425,519 | 132,415

9 | Related party transactions

Other transactions with directors

C H O Whittington (director) had a loan account with the company. At the balance sheet date the amount due to C H O Whittington was £1,730 (2024 - £6,256).