Wrex Racing Limited

Wrex Racing Limited
Statement of Financial Position
As at 31 August 2025

	Notes	31/08/2025 £	31/08/2024 £
Fixed assets
Intangible fixed assets	3	22,000	-
Tangible fixed assets	4	500,299	528,702
		522,299	528,702
Current assets
Stocks	5	9,110	-
Debtors	6	26,247	9,604
Cash at bank and in hand		21,708	16,754
		57,065	26,358
Creditors: amount falling due within one year	7	(335,022)	(425,739)
Net current assets		(277,957)	(399,381)

Total assets less current liabilities		244,342	129,321
Creditors: amount falling due after more than one year	8	(231,964)	(201,877)
Provisions for liabilities	9	(36,870)	(30,549)
Net assets		(24,492)	(103,105)

Capital and reserves
Called up share capital	10	100	100
Profit and loss account		(24,592)	(103,205)
Shareholders' funds		(24,492)	(103,105)

For the year ended 31 August 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 accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the director on 28 May 2026 and were signed by:

-------------------------------
Daniel Elias
Director

Wrex Racing Limited
Notes to the Financial Statements
For the year ended 31 August 2025

General Information

Wrex Racing Limited is a private company, limited by shares, registered in England and Wales, registration number 07000890, registration address The Workshop, Goose Willow Farm, Hanney Road, Abingdon, Oxfordshire, OX13 6AP.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery	20% Reducing Balance
Motor Vehicles	20% Reducing Balance
Computer Equipment	25% Straight Line

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 4 (2024 : 5).

Intangible fixed assets

Cost	Goodwill	Total
	£	£
At 01 September 2024	-	-
Additions	25,000	25,000
Disposals	-	-
At 31 August 2025	25,000	25,000
Amortisation
At 01 September 2024	-	-
Charge for year	3,000	3,000
On disposals	-	-
At 31 August 2025	3,000	3,000
Net book values
At 31 August 2025	22,000	22,000
At 31 August 2024	-	-

Tangible fixed assets

Cost or valuation	Land and Buildings	Plant and Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
At 01 September 2024	377,015	101,804	205,974	36,393	721,186
Additions	-	6,262	834	-	7,096
Disposals	(4,230)	-	-	-	(4,230)
At 31 August 2025	372,785	108,066	206,808	36,393	724,052
Depreciation
At 01 September 2024	-	38,104	126,803	27,577	192,484
Charge for year	-	13,315	16,001	1,953	31,269
On disposals	-	-	-	-	-
At 31 August 2025	-	51,419	142,804	29,530	223,753
Net book values
Closing balance as at 31 August 2025	372,785	56,647	64,004	6,863	500,299
Opening balance as at 01 September 2024	377,015	63,700	79,171	8,816	528,702

Stocks

	31/08/2025 £		31/08/2024 £
Stocks	9,110		-
	9,110		-

Debtors: amounts falling due within one year

	31/08/2025 £	31/08/2024 £
Trade Debtors	1,637	7,104
Other Debtors	24,118	2,500
	25,755	9,604

Debtors: amounts falling due after one year

	31/08/2025 £		31/08/2024 £
Prepayments	492		-
	492		-

Creditors: amount falling due within one year

	31/08/2025 £	31/08/2024 £
Trade Creditors	16,909	120,024
Bank Loans & Overdrafts	25,821	25,821
Corporation Tax	-	2,836
PAYE & Social Security	833	1,491
Accrued Expenses	4,930	5,718
Other Creditors	5,000	-
Obligations under HP/Financial Leases	12,054	-
Directors' Current Accounts	206,139	204,702
VAT	63,336	65,147
	335,022	425,739

Creditors: amount falling due after more than one year

	31/08/2025 £	31/08/2024 £
Bank Loans & Overdrafts	195,802	201,877
Obligations Under HP/Financial Leases	36,162	-
	231,964	201,877

Provisions for liabilities

	31/08/2025 £		31/08/2024 £
Deferred Tax	36,870		30,549
	36,870		30,549

10.

Share Capital

Allotted, called up and fully paid	31/08/2025 £		31/08/2024 £
100 Ordinary shares of £1.00 each	100		100
	100		100

Registered Number: 07000890
England and Wales
WREX RACING LIMITED

Unaudited Financial Statements

Period of accounts Start date: 01 September 2024 End date: 31 August 2025