Company registration number 07415224 (England and Wales)
RACINGBREAKS.COM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
RACINGBREAKS.COM LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
RACINGBREAKS.COM LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
31 March 2025
31 December 2023
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
-
0
Tangible assets
4
80,524
106,430
Current assets
Debtors
5
949,841
1,081,227
Cash at bank and in hand
276,261
531,856
1,226,102
1,613,083
Creditors: amounts falling due within one year
6
(1,986,769)
(1,956,946)
Net current liabilities
(760,667)
(343,863)
Total assets less current liabilities
(680,143)
(237,433)
Creditors: amounts falling due after more than one year
7
(1,964,883)
(2,148,836)
Net liabilities
(2,645,026)
(2,386,269)
Capital and reserves
Called up share capital
8
1,286
1,286
Share premium account
743,839
743,839
Revaluation reserve
-
0
220,000
Profit and loss reserves
(3,390,151)
(3,351,394)
Total equity
(2,645,026)
(2,386,269)
RACINGBREAKS.COM LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

For the financial period ended 31 March 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 period 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 16 March 2026 and are signed on its behalf by:
Mr A Taylor
Director
Company registration number 07415224 (England and Wales)
RACINGBREAKS.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Racingbreaks.com Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cloister Court, 22-26 Farringdon Lane, London, England, EC1R 3AJ.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These accounts have been prepared using the going concern basis as the director true s ha ve confirmed that t he y will continue to support the company in the foreseeable future.

1.3
Reporting period

During the period, the company extended the accounting reference date from 31 December 2024 to 31 March 2025. These financial statements therefore cover a period of more than one year and so the figures and disclosures are not entirely comparable with the previous accounting year.

1.4
Turnover

Turnover represents amounts receivable for the provision of tailor-made travel packages.

Revenue is recognised on a booking date basis but is amendable until the travel date. Turnover also includes an estimated downsizing provision for any adjustments made after the booking date and before the departure date which affects the original booking value and commission receivable.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation 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:

Club contract
Straight line over 3 years

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

1.6
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.

RACINGBREAKS.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

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:

Computer equipment
Straight line over 5 years
Website development
Straight line over 5 years
Booking databases
Straight live over 5 years

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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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 trade and other 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and loans from fellow group companies, 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.

RACINGBREAKS.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.10
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.

1.11
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.12
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.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

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.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2025
2023
Number
Number
Total
9
9
RACINGBREAKS.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 6 -
3
Intangible fixed assets
Club contract
£
Cost
At 1 January 2024 and 31 March 2025
120,000
Amortisation and impairment
At 1 January 2024 and 31 March 2025
120,000
Carrying amount
At 31 March 2025
-
0
At 31 December 2023
-
0
4
Tangible fixed assets
Plant and machinery etc
Website development
Booking databases
Total
£
£
£
£
Cost / Value
At 1 January 2024
9,940
879,918
280,606
1,170,464
Additions
740
15,286
-
0
16,026
At 31 March 2025
10,680
895,204
280,606
1,186,490
Depreciation and impairment
At 1 January 2024
6,049
777,379
280,606
1,064,034
Depreciation charged in the period
1,578
40,354
-
0
41,932
At 31 March 2025
7,627
817,733
280,606
1,105,966
Carrying amount
At 31 March 2025
3,053
77,471
-
0
80,524
At 31 December 2023
3,891
102,539
-
0
106,430
5
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
888,527
1,048,900
Corporation tax recoverable
25,000
25,000
Other debtors
36,314
7,327
949,841
1,081,227
RACINGBREAKS.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2023
£
£
Trade creditors
46,286
68,659
Taxation and social security
56,682
66,656
Other creditors
1,883,801
1,821,631
1,986,769
1,956,946
7
Creditors: amounts falling due after more than one year
2025
2023
Notes
£
£
Other borrowings
1,614,883
1,619,836
Other creditors
350,000
399,000
Accruals and deferred income
-
0
130,000
1,964,883
2,148,836
8
Called up share capital
2025
2023
2025
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
12,860
12,860
1,286
1,286

9
Related party transactions
Remuneration of key management personnel

Sport of Kings Investments Limited

As permitted under FRS102 s33.1A, the financial statements do not disclose transactions between the parent undertaking and wholly owned fellow subsidiaries.

At the balance sheet date £1,614,883 (2023: £1,619,836) was owed to Sport of Kings Investments Limited, a holding company.

Other information

Your Golf Travel Limited

At the balance sheet date, the company owed within one year £25,000 (2023: £25,000) and more than one year £350,000 (2023: £399,000) to Your Golf Travel Limited, a related party by virtue of having common directorship.

10
Directors' transactions

The company owed £35 (2023: £35) to directors of the company. These loans are interest-free and repayable on demand.

RACINGBREAKS.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 8 -
11
Prior period adjustment
Reconciliation of changes in equity
1 January
31 December
2023
2023
£
£
Adjustments to prior period
Write-off of connected party balance
-
(226,093)
Equity as previously reported
(2,209,377)
(2,160,176)
Equity as adjusted
(2,209,377)
(2,386,269)
Analysis of the effect upon equity
Profit and loss reserves
-
(226,093)
Reconciliation of changes in profit/(loss) for the previous financial period
2023
£
Adjustments to prior period
Write-off of connected party balance
(226,093)
Profit as previously reported
49,201
Loss as adjusted
(176,892)
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