KHK Racing Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12596687

KHK Racing Limited

Filleted Unaudited Financial Statements

For the period ended

30 May 2025

KHK Racing Limited

Statement of Financial Position

30 May 2025

	30 May 25		31 May 24
Note	£	£	£	£

Current assets

Stocks		11,074,083	4,329,500
Debtors	5	520,921	513,185
Cash at bank and in hand		990,104	4,903,692
		-------------	------------
		12,585,108	9,746,377

Creditors: amounts falling due within one year	6	23,872,890		22,310,358
		-------------		-------------
Net current liabilities			11,287,782		12,563,981
			-------------		-------------
Total assets less current liabilities			( 11,287,782)		( 12,563,981)
			-------------		-------------
Net liabilities			( 11,287,782)		( 12,563,981)
			-------------		-------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 11,287,882)	( 12,564,081)
	-------------	-------------
Shareholders deficit	( 11,287,782)	( 12,563,981)
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 30 May 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 financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 8 June 2026 , and are signed on behalf of the board by:

Mr A J A Alzain	Mr F A A Nass
Director	Director

Company registration number: 12596687

KHK Racing Limited

Notes to the Financial Statements

Period from 1 June 2024 to 30 May 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 119 High Street, Newmarket, CB8 9AE, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company is financed by the shareholders. They have confirmed they intend to support the company for the foreseeable future. The directors believe the company is therefore a going concern.

Revenue recognition

Turnover is measured at fair value of consideration received or receivable in respect of prize money, sponsorship, recharges and sale of bloodstock which are net of discounts and Value Added Tax. Prize money is recognised on receipt from the British Horse Association. Sponsorship income is recognised on receipt from the British Horse Association or per the contract agreement. Recharged income is recognised on an accruals basis and recharged income is matched with expenditure which is to be recharged. Bloodstock income is recognised when the ownership of bloodstock passes from the seller to the buyer. Stallion income is recognised on an accruals basis per the contractual stallion agreement when the company is entitled to its's share of stallion income.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Stock comprises bloodstock (stallions, mares and foals) held for the purposes of breeding and racing. Mares and foals are stated at the lower of cost and net realisable value (selling price less cost to sell). Where a write down is identified, the value of stock is reduced and the reduction is immediately charged in the profit and loss account. Stallions are depreciated on a straight line basis so that they will have a book value of nil at the end of the year in which they reach ten years of age. A transfer is made between breeding and racing when the purpose of holding the bloodstock changes. The transfer value is based on the net realisable value of the bloodstock as at the date of transfer.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 June 2024	–
Additions	1,148,976
	------------
At 30 May 2025	1,148,976
	------------
Impairment
At 1 June 2024	–
Impairment losses	1,148,976
	------------
At 30 May 2025	1,148,976
	------------

Carrying amount
At 30 May 2025	–
	------------
At 31 May 2024	–
	------------

5. Debtors

	30 May 25	31 May 24
	£	£
Trade debtors	72,208	130,946
Amounts owed by group undertakings and undertakings in which the company has a participating interest	11,566	–
Other debtors	437,147	382,239
	---------	---------
	520,921	513,185
	---------	---------

6. Creditors: amounts falling due within one year

	30 May 25	31 May 24
	£	£
Trade creditors	2,644,100	576,117
Other creditors	21,228,790	21,734,241
	-------------	-------------
	23,872,890	22,310,358
	-------------	-------------

7. Employee numbers

The average number of persons employed by the company during the year was Nil (2024: Nil).