Company Registration No. 07437310 (England and Wales)
Raceworks Motorsport Limited
Unaudited accounts
for the year ended 31 March 2026
Raceworks Motorsport Limited
Unaudited accounts
Contents
Raceworks Motorsport Limited
Company Information
for the year ended 31 March 2026
Directors
Peter Johnston
Michael Purse
Company Number
07437310 (England and Wales)
Registered Office
Unit 8 Wyndmere Park
Ashwell Road
Steeple Morden
Hertfordshire
SG8 0NZ
England
Accountants
SRG Accountancy Services
2 WHITFIELD ROAD
POTTON
Sandy
BEDFORDSHIRE
SG19 2FS
Raceworks Motorsport Limited
Statement of financial position
as at 31 March 2026
Tangible assets
20,049
26,507
Cash at bank and in hand
2,859
2,336
Creditors: amounts falling due within one year
(309,004)
(262,703)
Net current assets
58,920
75,428
Total assets less current liabilities
78,969
101,935
Creditors: amounts falling due after more than one year
(9,816)
(57,586)
Called up share capital
100
100
Profit and loss account
69,053
44,249
Shareholders' funds
69,153
44,349
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2026 and were signed on its behalf by
Peter Johnston
Director
Company Registration No. 07437310
Raceworks Motorsport Limited
Notes to the Accounts
for the year ended 31 March 2026
Raceworks Motorsport Limited is a private company, limited by shares, registered in England and Wales, registration number 07437310. The registered office is Unit 8 Wyndmere Park, Ashwell Road, Steeple Morden, Hertfordshire, SG8 0NZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% on cost
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Raceworks Motorsport Limited
Notes to the Accounts
for the year ended 31 March 2026
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Tangible fixed assets
Total
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Included within debtors are the following loans
6,000
-
-
6,000
The company's controlling party is Mr Peter Johnston by virtue of his beneficial ownership of 50% of the issued share capital in the company.
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Average number of employees
During the year the average number of employees was 3 (2025: 3).