Company Registration number: 15759632

JDL Racing Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 7

JDL Racing Limited

(Registration number: 15759632)
Balance Sheet as at 30 November 2025

	Note	2025 £
Fixed assets
Intangible assets	4	28,395
Tangible assets	5	25,000
		53,395
Current assets
Debtors	6	465
Cash at bank and in hand		921
		1,386
Creditors: Amounts falling due within one year	7	(119,789)
Net current liabilities		(118,403)
Net liabilities		(65,008)
Capital and reserves
Called up share capital	8	1
Retained earnings		(65,009)
Shareholders' deficit		(65,008)

For the financial period ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 May 2026 and signed on its behalf by:
 

......................................... Mr D E Lovell Director

......................................... Mr J J L Lovell Director

JDL Racing Limited

Notes to the Unaudited Financial Statements for the Period from 4 June 2024 to 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2 Alexandra Gate
Fford Pengam
Cardiff
CF24 2SA

These financial statements were authorised for issue by the Board on 28 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. As at the balance sheet date, the company had net liabilities of £65,008. This indicates a requirement for the directors to carefully consider the appropriateness of preparing the financial statements on a going concern basis.

The company is in the early stages of trading and has been able to finance its operations primarily through the support of related party loans. The directors acknowledge that, without their support, there may be significant doubt regarding the company’s ability to continue as a going concern.

However, the directors are confident that the company will become profitable within the next 12 months as the brand gains traction and trading activity increases. Based on this expectation, and the ongoing financial support from related parties, the directors believe it is appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received. The fair value of revenue is the total amounts wagered less payouts for on-course betting.

JDL Racing Limited

Notes to the Unaudited Financial Statements for the Period from 4 June 2024 to 30 November 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	33.33% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Racecourse pitches	Over the term of lease

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

JDL Racing Limited

Notes to the Unaudited Financial Statements for the Period from 4 June 2024 to 30 November 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

JDL Racing Limited

Notes to the Unaudited Financial Statements for the Period from 4 June 2024 to 30 November 2025

4	Intangible assets

	Racecourse pitches  £	Total £
Cost or valuation
Additions acquired separately	29,096	29,096
At 30 November 2025	29,096	29,096
Amortisation
Amortisation charge	701	701
At 30 November 2025	701	701
Carrying amount
At 30 November 2025	28,395	28,395

5	Tangible assets

	Motor vehicles  £	Total £
Cost or valuation
Additions	30,000	30,000
At 30 November 2025	30,000	30,000
Depreciation
Charge for the period	5,000	5,000
At 30 November 2025	5,000	5,000
Carrying amount
At 30 November 2025	25,000	25,000

6

Debtors

Current	2025 £
Prepayments	465
	465

JDL Racing Limited

Notes to the Unaudited Financial Statements for the Period from 4 June 2024 to 30 November 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £
Due within one year
Trade creditors		694
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	78,577
Accruals and deferred income		1,800
Other creditors		38,718
		119,789

8	Share capital

Allotted, called up and fully paid shares

	2025
	No.	£
Ordinary of £1 each	1	1

9	Related party transactions

Loans from related parties

2025	Entities with joint control or significant influence £	Other related parties £	Total £
Advanced	78,577	38,819	117,396
At end of period	78,577	38,819	117,396

Terms of loans from related parties

No interest has been charged on the loans from entities with joint control or significant influence. These amounts are unsecured and repayable on demand.

 No interest has been charged on the loans to other related parties. These amounts are unsecured and repayable on demand.

JDL Racing Limited

Notes to the Unaudited Financial Statements for the Period from 4 June 2024 to 30 November 2025

10	Parent and ultimate parent undertaking

The company's immediate parent is Lovells Group Limited, incorporated in England & Wales.