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Registration number: 15307146 (England & Wales)

Prepared for the registrar
Crown Jewels Racing Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2025

Crown Jewels Racing Limited

(Registration number: 15307146 (England & Wales))
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 80,463 | 63,612
Current assets |  |  |
Debtors | 5 | 28,537 | 25,337
Cash at bank and in hand |  | 3,410 | 13,280
|  | 31,947 | 38,617
Creditors: Amounts falling due within one year | 6 | (12,319) | (17,513)
Net current assets |  | 19,628 | 21,104
Total assets less current liabilities |  | 100,091 | 84,716
Deferred tax liabilities | 7 | (14,254) | (12,086)
Net assets |  | 85,837 | 72,630
Capital and reserves |  |  |
Called up share capital |  | 20,000 | 20,000
Retained earnings |  | 65,837 | 52,630
Shareholders' funds |  | 85,837 | 72,630

For the financial year ending 31 December 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 year 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 29 May 2026 and signed on its behalf by:

H F Birtles
Director

Crown Jewels Racing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Staverton Court
Staverton
Cheltenham
GL51 0UX

| 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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Crown Jewels Racing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Intangible assets

Development costs are initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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
Development costs | 20% straight line

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

Crown Jewels Racing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

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.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

| 4 | Intangible assets

| Development costs £
Cost
At 1 January 2025 | 73,658
Additions acquired separately | 36,785
At 31 December 2025 | 110,443
Amortisation
At 1 January 2025 | 10,046
Amortisation charge | 19,934
At 31 December 2025 | 29,980
Carrying amount
At 31 December 2025 | 80,463
At 31 December 2024 | 63,612

| 5 | Debtors

| 2025 £ | 2024 £
Receivables from related parties | 23,321 | 15,121
Other debtors | 5,216 | 10,216
| 28,537 | 25,337

| 6 | Creditors

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 7,381 | -
Taxation and social security | 3,048 | 6,013
Accruals and deferred income | 1,890 | 11,500
| 12,319 | 17,513

Crown Jewels Racing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

| 7 | Deferred tax

Deferred tax assets and liabilities

2025 | Liability £
Fixed asset timing differences | 14,254
| 14,254

2024 | Liability £
Fixed asset timing differences | 12,086
| 12,086

| 8 | Related party transactions

Transactions with directors
At 31 December 2025, the company was owed £Nil (2024 £1,117) from the directors in the form of a directors' loan account. The loan is unsecured, interest-free and repayable on demand.
Transactions with parent company
At 31 December 2025, the amount due from HBA Media Limited was £23,321 (2024: £14,004) in the form of an intercompany loan. The loan is unsecured, interest-free and repayable on demand.