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Registered number: 07696816
Compbrake Motorsport Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2025
D Wilson & Co
21 Charnwood Avenue
Denton
Manchester
M34 2WY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07696816
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 132,073 133,001
132,073 133,001
CURRENT ASSETS
Stocks 6 38,150 58,255
Debtors 7 3,969 13,955
Cash at bank and in hand 44,765 47,103
86,884 119,313
Creditors: Amounts Falling Due Within One Year 8 (275,188 ) (315,861 )
NET CURRENT ASSETS (LIABILITIES) (188,304 ) (196,548 )
TOTAL ASSETS LESS CURRENT LIABILITIES (56,231 ) (63,547 )
Creditors: Amounts Falling Due After More Than One Year 9 - (16,983 )
NET LIABILITIES (56,231 ) (80,530 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (56,331 ) (80,630 )
SHAREHOLDERS' FUNDS (56,231) (80,530)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Klint Turner
Director
23 April 2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Compbrake Motorsport Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07696816 . The registered office is Unit F1, Belvedere Barm Estate, Crank Road, Billing, Wigan, WN5 7EZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Straight Line
Fixtures & Fittings 15% Straight Line
Computer Equipment 25% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 7 7
Sales, marketing and distribution 7 7
14 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2024 150,274
As at 31 July 2025 150,274
Amortisation
As at 1 August 2024 150,274
As at 31 July 2025 150,274
Net Book Value
As at 31 July 2025 -
As at 1 August 2024 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 August 2024 129,145 19,496 25,016 14,721
As at 31 July 2025 129,145 19,496 25,016 14,721
Depreciation
As at 1 August 2024 - 14,407 25,016 14,721
Provided during the period - 2,161 - -
As at 31 July 2025 - 16,568 25,016 14,721
Net Book Value
As at 31 July 2025 129,145 2,928 - -
As at 1 August 2024 129,145 5,089 - -
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Page 5
Computer Equipment Total
£ £
Cost
As at 1 August 2024 4,929 193,307
As at 31 July 2025 4,929 193,307
Depreciation
As at 1 August 2024 6,162 60,306
Provided during the period (1,233 ) 928
As at 31 July 2025 4,929 61,234
Net Book Value
As at 31 July 2025 - 132,073
As at 1 August 2024 (1,233 ) 133,001
6. Stocks
2025 2024
£ £
Stock 38,150 58,255
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 3,969 8,253
Other taxes and social security - 5,702
3,969 13,955
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 102,086 24,897
Bank loans and overdrafts 13,553 51,640
Corporation tax 13,187 122,661
VAT 18,690 9,220
Other creditors (1) - (229 )
Accruals and deferred income 750 750
Director's loan account 126,922 106,922
275,188 315,861
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 16,983
Page 5
Page 6
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The company's ultimate controlling party is Klint Turner
Page 6