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Registered number: 08742137
Patrick Janssens Racing Limited
Unaudited Financial Statements
For The Year Ended 30 September 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08742137
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 118,470 61,884
118,470 61,884
CURRENT ASSETS
Stock 5 18,064 9,321
Debtors 6 15,514 22,318
Cash at bank and in hand 19,144 10,449
52,722 42,088
Creditors: Amounts Falling Due Within One Year 7 (83,614 ) (27,869 )
NET CURRENT ASSETS (LIABILITIES) (30,892 ) 14,219
TOTAL ASSETS LESS CURRENT LIABILITIES 87,578 76,103
Creditors: Amounts Falling Due After More Than One Year 8 (480 ) (4,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,062 ) (6,078 )
NET ASSETS 80,036 65,858
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 80,035 65,857
SHAREHOLDERS' FUNDS 80,036 65,858
Page 1
Page 2
For the year ending 30 September 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 Patrick Janssens
Director
30 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
Patrick Janssens Racing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08742137 . The registered office is 2 Wooden Bungalows, West Tofts, Thetford, Norfolk, IP26 5ER.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Kennels 10% on cost
Motor Vehicles 25% on reducing balance
Equipment 25% on reducing balance
Office Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stock and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stock. 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.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 2)
1 2
4. Tangible Assets
Kennels Motor Vehicles Equipment Office Equipment Total
£ £ £ £ £
Cost
As at 1 October 2024 44,004 40,005 22,022 274 106,305
Additions 56,351 19,445 2,095 - 77,891
Disposals - (17,010 ) - - (17,010 )
As at 30 September 2025 100,355 42,440 24,117 274 167,186
Depreciation
As at 1 October 2024 14,109 17,989 12,156 167 44,421
Provided during the period 4,942 8,678 2,466 91 16,177
Disposals - (11,882 ) - - (11,882 )
As at 30 September 2025 19,051 14,785 14,622 258 48,716
...CONTINUED
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Net Book Value
As at 30 September 2025 81,304 27,655 9,495 16 118,470
As at 1 October 2024 29,895 22,016 9,866 107 61,884
5. Stock
2025 2024
£ £
Stock - greyhounds 18,064 9,321
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 999
Amounts recoverable on contracts 13,100 19,980
Prepayments and accrued income 976 535
Other debtors 1,438 804
15,514 22,318
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 5,762 -
Trade creditors 411 140
Bank loans and overdrafts 4,167 5,000
Corporation tax 3,874 832
Accruals & deferred income 22,953 786
Director's loan account 46,447 21,111
83,614 27,869
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 480 -
Bank loans - 4,167
480 4,167
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9. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 6,242 -
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,762 -
Later than one year and not later than five years 480 -
6,242 -
6,242 -
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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