REGISTERED NUMBER: 13663909 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2025

for

J K Motor Sports Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

13,823

18,174

CURRENT ASSETS

Stocks

95,100

166,950

Debtors

5

500

26,610

Cash in hand

156

551

95,756

194,111

CREDITORS

Amounts falling due within one year

6

(55,492

)

(94,062

)

NET CURRENT ASSETS

40,264

100,049

TOTAL ASSETS LESS CURRENT LIABILITIES

54,087

118,223

CREDITORS

Amounts falling due after more than one year

7

(12,566

)

(38,129

)

PROVISIONS FOR LIABILITIES

-

(4,544

)

NET ASSETS

41,521

75,550

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

41,421

75,450

41,521

75,550

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 July 2026 and were signed by:

Mr J Knowles - Director

1.	STATUTORY INFORMATION

J K Motor Sports Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

13663909

Registered office:

Unit 2

1 Sheffield Road

Chapel-En-Le-Frith

High Peak

SK23 0PE

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, net of VAT and trade discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably; this is usually on despatch of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current taxation. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2024

and 31 October 2025

6,000

24,500

983

31,483

DEPRECIATION

At 1 November 2024

2,160

10,719

430

13,309

Charge for year

768

3,445

138

4,351

At 31 October 2025

2,928

14,164

568

17,660

NET BOOK VALUE

At 31 October 2025

3,072

10,336

415

13,823

At 31 October 2024

3,840

13,781

553

18,174

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 November 2024

and 31 October 2025

24,500

DEPRECIATION

At 1 November 2024

10,719

Charge for year

3,445

At 31 October 2025

14,164

NET BOOK VALUE

At 31 October 2025

10,336

At 31 October 2024

13,781

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

500

26,610

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans and overdrafts

21,298

29,023

Hire purchase contracts

5,132

4,850

Trade creditors

5,500

15,194

Taxation and social security

14,559

29,713

Other creditors

9,003

15,282

55,492

94,062

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans

9,894

30,325

Hire purchase contracts

2,672

7,804

12,566

38,129

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2025 and 31 October 2024:

31.10.25

31.10.24

£

£

Mr J Knowles

Balance outstanding at start of year

-

-

Amounts advanced

-

13,275

Amounts repaid

-

(13,275

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Loans in excess of £10,000 are charged interest at 2.25% per annum.