Specialised Group Racing Limited 14437982 false 2024-11-01 2025-10-31 2025-10-31 The principal activity of the company is Motor bike racing Digita Accounts Production Advanced 6.30.9574.0 true true 14437982 2024-11-01 2025-10-31 14437982 2025-10-31 14437982 bus:OrdinaryShareClass1 2025-10-31 14437982 core:RetainedEarningsAccumulatedLosses 2025-10-31 14437982 core:ShareCapital 2025-10-31 14437982 core:CurrentFinancialInstruments 2025-10-31 14437982 core:CurrentFinancialInstruments core:WithinOneYear 2025-10-31 14437982 core:Goodwill 2025-10-31 14437982 core:MotorVehicles 2025-10-31 14437982 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2025-10-31 14437982 core:OtherRelatedParties 2025-10-31 14437982 bus:SmallEntities 2024-11-01 2025-10-31 14437982 bus:AuditExemptWithAccountantsReport 2024-11-01 2025-10-31 14437982 bus:FilletedAccounts 2024-11-01 2025-10-31 14437982 bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 14437982 bus:RegisteredOffice 2024-11-01 2025-10-31 14437982 bus:Director1 2024-11-01 2025-10-31 14437982 bus:OrdinaryShareClass1 2024-11-01 2025-10-31 14437982 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 14437982 core:Goodwill 2024-11-01 2025-10-31 14437982 core:MotorVehicles 2024-11-01 2025-10-31 14437982 core:Vehicles 2024-11-01 2025-10-31 14437982 countries:EnglandWales 2024-11-01 2025-10-31 14437982 2024-10-31 14437982 core:Goodwill 2024-10-31 14437982 core:MotorVehicles 2024-10-31 14437982 2023-11-01 2024-10-31 14437982 2024-10-31 14437982 bus:OrdinaryShareClass1 2024-10-31 14437982 core:RetainedEarningsAccumulatedLosses 2024-10-31 14437982 core:ShareCapital 2024-10-31 14437982 core:CurrentFinancialInstruments 2024-10-31 14437982 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 14437982 core:Goodwill 2024-10-31 14437982 core:MotorVehicles 2024-10-31 14437982 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-10-31 14437982 core:OtherRelatedParties 2024-10-31 14437982 1 2024-10-31 14437982 1 2023-11-01 2024-10-31 14437982 1 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14437982

Specialised Group Racing Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 October 2025

Specialised Group Racing Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 7

Specialised Group Racing Limited

(Registration number: 14437982)
Balance Sheet as at 31 October 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 21,000 |  | 24,000
Tangible assets | 5 |  | 8,344 |  | 11,125
|  |  | 29,344 |  | 35,125
Current assets |  |  |  |  |
Debtors | 6 | 152,951 |  | 101,959 |
Cash at bank and in hand |  | 9,255 |  | 781 |
|  | 162,206 |  | 102,740 |
Creditors: Amounts falling due within one year | 7 | (549,098) |  | (430,199) |
Net current liabilities |  |  | (386,892) |  | (327,459)
Total assets less current liabilities |  |  | (357,548) |  | (292,334)
Provisions for liabilities |  |  | (2,000) |  | (3,000)
Net liabilities |  |  | (359,548) |  | (295,334)
Capital and reserves |  |  |  |  |
Called up share capital | 9 | 100 |  | 100 |
Retained earnings |  | (359,648) |  | (295,434) |
Shareholders' deficit |  |  | (359,548) |  | (295,334)

For the financial year ending 31 October 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 8 July 2026 and signed on its behalf by:

......................................... D M Bywater Director

Specialised Group Racing Limited

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

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Mile Cross Works
Gibbet Street
Halifax
HX1 4JQ

These financial statements were authorised for issue by the Board on 8 July 2026.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Going concern

The company has the ongoing support of the director and companies under common control, who have confirmed they will not call for repayment of their loans on terms that would be prejudicial to the companies continuing activities. Having considered the validity of the going concern concept in relation to these accounts, the directors have concluded that the company will continue in operation for the foreseeable future and have therefore prepared the financial statements on a going concern basis.

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.
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.

Tax

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

Specialised Group Racing Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor vehicles | 25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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
Goodwill | 10% Straight line

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.

Specialised Group Racing Limited

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

Financial instruments

Financial assets
Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

Specialised Group Racing Limited

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

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 November 2024 | 30,000 | 30,000
At 31 October 2025 | 30,000 | 30,000
Amortisation
At 1 November 2024 | 6,000 | 6,000
Amortisation charge | 3,000 | 3,000
At 31 October 2025 | 9,000 | 9,000
Carrying amount
At 31 October 2025 | 21,000 | 21,000
At 31 October 2024 | 24,000 | 24,000

5 | Tangible assets

| Motor vehicles £ | Total £
Cost or valuation
At 1 November 2024 | 14,833 | 14,833
At 31 October 2025 | 14,833 | 14,833
Depreciation
At 1 November 2024 | 3,708 | 3,708
Charge for the year | 2,781 | 2,781
At 31 October 2025 | 6,489 | 6,489
Carrying amount
At 31 October 2025 | 8,344 | 8,344
At 31 October 2024 | 11,125 | 11,125

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 17,989 | 65,093
Prepayments | 4,060 | 4,853
Other debtors | 130,902 | 32,013
| 152,951 | 101,959

Specialised Group Racing Limited

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

7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 38,100 | 34,000
Trade creditors |  | - | 3,662
Accruals and deferred income |  | 5,300 | 2,200
Other creditors |  | 505,698 | 390,337
|  | 549,098 | 430,199

8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 38,100 | 34,000

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

Specialised Group Racing Limited

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

10 | Related party transactions

Transactions with directors

2024 | At 1 November 2023 £ | Repayments by director £ | At 31 October 2024 £
Directors loan | 100 | (100) | -

Income and receivables from related parties

2025 | Other related parties £
Amounts receivable from related party | 29,238

2024 | Other related parties £
Amounts receivable from related party | 31,736

Expenditure with and payables to related parties

2025 | Key management £ | Other related parties £
Amounts payable to related party | 38,100 | 505,698

2024 | Key management £ | Other related parties £
Amounts payable to related party | 34,000 | 390,337