Company No: 08044486 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	687,327		695,959
		687,327		695,959
Current assets
Stocks		476,481		385,981
Debtors	5	74,071		151,898
Cash at bank and in hand		6,075		2,542
		556,627		540,421
Creditors: amounts falling due within one year	6	( 171,477)		( 330,727)
Net current assets		385,150		209,694
Total assets less current liabilities		1,072,477		905,653
Creditors: amounts falling due after more than one year	7	( 726,506)		( 579,186)
Provision for liabilities		( 17,800)		( 19,300)
Net assets		328,171		307,167
Capital and reserves
Called-up share capital	8	100		100
Revaluation reserve		0		307
Profit and loss account		328,071		306,760
Total shareholder's funds		328,171		307,167

For the financial year ending 31 May 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 member has not required the Company to obtain an audit of its financial statements for the financial year 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 financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Alexandra Dunn Racing Limited (registered number: 08044486) were approved and authorised for issue by the Director on 15 June 2026. They were signed on its behalf by:

Mrs A Dunn Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alexandra Dunn Racing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Gallops, West Buckland, Wellington, Somerset, TA21 9LE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	5 years straight line
Vehicles	5 - 15 years straight line
Fixtures and fittings	5 years straight line
Office equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described in note 1, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial year in which the estimate is revised if the revision affects only that financial year, or in the financial year of the revision and future financial years if the revision affects both current and future financial years. The following are the critical judgements and estimates that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Key source of estimation uncertainty

No depreciation is provided on land and buildings, as the directors consider that the useful economic life of the company's properties is such that depreciation would be immaterial. The company has a policy and practice of regular maintenance and repair (charges for which are recognised in the profit and loss account) such that these assets are kept to their previously assessed standard of performance, and the properties are unlikely to suffer from economic or technological obsolescence. The land and buildings are reviewed for impairment each year.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	8		12

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 June 2024	383,732		131,940		353,780		2,486		193		872,131
Additions	5,710		0		0		0		0		5,710
At 31 May 2025	389,442		131,940		353,780		2,486		193		877,841
Accumulated depreciation
At 01 June 2024	63,792		88,030		23,384		890		76		176,172
Charge for the financial year	0		1,464		12,333		497		48		14,342
At 31 May 2025	63,792		89,494		35,717		1,387		124		190,514
Net book value
At 31 May 2025	325,650		42,446		318,063		1,099		69		687,327
At 31 May 2024	319,940		43,910		330,396		1,596		117		695,959

5. Debtors

	2025		2024
	£		£
Trade debtors	50,486		25,453
Prepayments	3,742		6,615
VAT recoverable	19,017		0
Corporation tax	0		18,488
Other debtors	826		101,342
	74,071		151,898

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	7,500		10,000
Trade creditors	74,372		35,498
Amounts owed to director	20,110		219,483
Other loans (secured)	8,780		0
Accruals	3,900		8,710
Other taxation and social security	4,493		5,020
Obligations under finance leases and hire purchase contracts (secured)	40,567		39,833
Other creditors	11,755		12,183
	171,477		330,727

The obligations under other loans, as well as finance leases and hire purchase contracts, are secured against the assets to which they relate.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	5,000		10,000
Other loans (secured)	530,917		337,891
Obligations under finance leases and hire purchase contracts (secured)	190,589		231,295
	726,506		579,186

The obligations under other loans, as well as finance leases and hire purchase contracts, are secured against the assets to which they relate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	9,420		65,940

8. Called-up share capital

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

9. Related party transactions

Summary of transactions with West Buckland Bloodstock Limited - a company owned by a close relative of the director

At the year end, the company had a loan of nil (2024 - £101,342) owed from this related party. The balance is interest free and repayable on demand.

Summary of transactions with Team Dunn - a racing syndicate of which the company is a member

During the year, the company made purchases of £650 (2024 - sales of £54,390) to this related party. All transactions were conducted on an arm's length basis on normal business credit terms. At the year end, a balance of £Nil (2024 - £Nil) was due from the company.