Phil Stott Motor Sport Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03576116

Phil Stott Motor Sport Limited

Filleted Unaudited Financial Statements

31 October 2025

Phil Stott Motor Sport Limited

Statement of Financial Position

31 October 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		418,081	420,323

Current assets

Stocks		15,000	18,090
Debtors	6	16,525	42,195
Cash at bank and in hand		218,001	331,463
		--------	--------
		249,526	391,748

Prepayments and accrued income	9,310		6,704

Creditors: amounts falling due within one year	7	306,556		402,772
		--------		--------
Net current liabilities			47,720	4,320
			--------	--------
Total assets less current liabilities			370,361	416,003

Accruals and deferred income	4,187	4,870
	--------	--------
Net assets	366,174	411,133
	--------	--------

Capital and reserves

Called up share capital	8	2	2
Profit and loss account		366,172	411,131
		--------	--------
Shareholders funds		366,174	411,133
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Director's responsibilities:

- The 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Phil Stott Motor Sport Limited

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 30 March 2026 , and are signed on behalf of the board by:

P.A. Stott
Director

Company registration number: 03576116

Phil Stott Motor Sport Limited

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, incorporated and registered in England and Wales with company number 03576116 . The address of the registered office is Unit 1a Marchington Industrial Estate, Stubby Lane, Marchington, Uttoxeter, Staffordshire, ST14 8LP.

2. Statement of compliance

The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.

Judgements in applying accounting policies and key sources of estimation in uncertainty

In preparing these financial statements the director has had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Nov 2024	409,500	45,934	5,260	50,700	1,995	513,389
Additions	–	–	269	–	–	269
	--------	-------	------	-------	------	--------
At 31 Oct 2025	409,500	45,934	5,529	50,700	1,995	513,658
	--------	-------	------	-------	------	--------
Depreciation
At 1 Nov 2024	–	41,129	4,705	45,448	1,784	93,066
Charge for the year	–	961	184	1,313	53	2,511
	--------	-------	------	-------	------	--------
At 31 Oct 2025	–	42,090	4,889	46,761	1,837	95,577
	--------	-------	------	-------	------	--------
Carrying amount
At 31 Oct 2025	409,500	3,844	640	3,939	158	418,081
	--------	-------	------	-------	------	--------
At 31 Oct 2024	409,500	4,805	555	5,252	211	420,323
	--------	-------	------	-------	------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	( 84)	32,521
Other debtors	16,609	9,674
	-------	-------
	16,525	42,195
	-------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	19,959	86,450
Social security and other taxes	58,507	45,942
Other creditors	228,090	270,380
	--------	--------
	306,556	402,772
	--------	--------

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

9. Director's advances, credits and guarantees

At the reporting date the directors loan account was in debit by £16,609 (2024: (£42,941)). There is no fixed term for repayment and no interest is charged. Transactions during the year can be summarised as follows:

		2025
		£
	Opening Balance Brought Forward	(42,941)
	Net Advance (0% Interest)	59,550
	Closing Balance Carried Forward	16,609