Stratford-on-Avon Racecourse Company - Accounts to registrar (filleted)

REGISTERED NUMBER: 00179384

STRATFORD-ON-AVON RACECOURSE

COMPANY LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,264,686

1,006,589

Investments

5

31,665

30,253

1,296,351

1,036,842

CURRENT ASSETS

Stocks

30,297

27,583

Debtors

6

258,142

248,855

Cash at bank

1,579,820

2,097,851

1,868,259

2,374,289

CREDITORS

Amounts falling due within one year

7

198,194

255,298

NET CURRENT ASSETS

1,670,065

2,118,991

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,966,416

3,155,833

PROVISIONS FOR LIABILITIES

(102,040

)

(123,616

)

DEFERRED GRANTS

(2,733

)

(3,512

)

NET ASSETS

2,861,643

3,028,705

CAPITAL AND RESERVES

Called up share capital

60,000

Share premium

2,200

Revaluation reserve

156,651

Grant account

197,964

265,688

Retained earnings

2,444,828

2,544,166

SHAREHOLDERS' FUNDS

2,861,643

3,028,705

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2026 and were signed on its behalf by:

M H Rowe - Director

G C Lea - Director

1.	STATUTORY INFORMATION

Stratford-on-Avon Racecourse Company Limited is a private company limited by shares. The company is registered in England under number 00179384 and the address of the registered office is Barclays Bank Chambers, Stratford-upon-Avon, CV37 6AH. The company's place of business is Luddington Road, Stratford-upon-Avon, CV37 9SE.

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.

Depreciation

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

Freehold buildings

-

2% on cost where provided

Short leasehold property - new stand

-

over the period of the lease

Short leasehold property - other
improvements

-

10% on cost and 2% on cost where provided

Tools, equipment and motor vehicles

-

25% on cost, 25% on reducing balance and 15% on reducing balance

Fixtures, fittings, water and
electrical

-

20% on cost and 15% on reducing balance

No depreciation is provided on freehold land.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a "first in, first out" basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pensions

The company operates a contributory defined contribution group personal pension scheme covering the majority of its permanent employees. The scheme funds are administered by trustees and are independent of the company's finances. The company's contributions to the scheme are charged in the profit and loss account as they accrue. Differences between contributions payable and paid are included in accruals or prepayments in the balance sheet. The company also pays pensions directly to certain former employees and dependants.

Capital grants

i) Capital grants received from the Horserace Betting Levy Board in respect of capital expenditure are accounted for as follows:

- Capital grants in respect of buildings are taken to the Grant Account. The Grant Account reduces as credits are made to the profit and loss account by annual instalments over a period of years which, on average, matches the period over which the relevant fixed assets are depreciated.

- Capital grants in respect of fixtures and equipment are taken to the Deferred Grant account which reduces as credits are made to the profit and loss account over the estimated useful life of those assets.

ii) Capital grants received from other sources in respect of capital expenditure are credited to the Deferred Grant account which reduces as credits are made to the profit and loss account over the estimated useful life of the assets to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 132 (2024 - 130 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2025

3,584,131

1,363,672

4,947,803

Additions

319,428

96,444

415,872

Disposals

-

(44,759

)

(44,759

)

At 31 December 2025

3,903,559

1,415,357

5,318,916

DEPRECIATION

At 1 January 2025

2,823,513

1,117,701

3,941,214

Charge for year

96,556

58,542

155,098

Eliminated on disposal

-

(42,082

)

(42,082

)

At 31 December 2025

2,920,069

1,134,161

4,054,230

NET BOOK VALUE

At 31 December 2025

983,490

281,196

1,264,686

At 31 December 2024

760,618

245,971

1,006,589

Included in land and buildings as deemed cost on transition to FRS 102 is land of £216,497. This includes land revalued in 1988 at £170,000 when the excess over cost of £156,651 was transferred to the Revaluation Reserve.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2025

30,253

Disposals

(100

)

Share of profit/(loss)

32,632

Dividends received

(31,120

)

At 31 December 2025

31,665

NET BOOK VALUE

At 31 December 2025

31,665

At 31 December 2024

30,253

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

238,900

198,462

Other debtors

1,016

30,928

Prepayments and accrued income

18,226

19,465

258,142

248,855

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

21,714

24,599

Other creditors

43,241

48,137

Accruals and deferred income

133,239

182,562

198,194

255,298

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Bowen BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of H L Barnes, Statutory Auditors

9.	GRANT ACCOUNT

Grants in

respect of

Buildings

Grandstands

Total

£

Horserace Betting Levy Board

At 1 January 2025

143,345

122,343

265,688

Credit to profit and loss account

(35,252

)

(32,472

)

(67,724

)

At 31 December 2025

£ 108,093

£ 89,871

£ 197,964