REGISTERED NUMBER: SC265486 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

FP Racing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S M A Malik

REGISTERED OFFICE:

8 Mey Court

Newton Mearns

Glasgow

G77 6WP

REGISTERED NUMBER:

SC265486 (Scotland)

ACCOUNTANTS:

R.A.M.

Admiral House

Montgomery Place

East Kilbride

South Lanarkshire

G74 4BF

FIXED ASSETS

Tangible assets

4

4,060

5,414

CURRENT ASSETS

Stocks

173,700

141,760

Debtors

5

13,113

10,432

Cash at bank and in hand

7,302

4,298

194,115

156,490

CREDITORS

Amounts falling due within one year

6

122,072

126,942

NET CURRENT ASSETS

72,043

29,548

TOTAL ASSETS LESS CURRENT LIABILITIES

76,103

34,962

CREDITORS

Amounts falling due after more than one year

7

55,038

20,733

NET ASSETS

21,065

14,229

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

21,064

14,228

SHAREHOLDERS' FUNDS

21,065

14,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

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

Mr S M A Malik - Director

1.	STATUTORY INFORMATION

FP Racing Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2025

and 31 March 2026

32,756

DEPRECIATION

At 1 April 2025

27,342

Charge for year

1,354

At 31 March 2026

28,696

NET BOOK VALUE

At 31 March 2026

4,060

At 31 March 2025

5,414

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

13,113

10,432

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

8,420

22,412

Taxation and social security

24,932

19,273

Other creditors

88,720

85,257

122,072

126,942

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

55,038

20,733

8.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr S M A Malik.