Registration number: 10801939

Championship Racing Limited trading as Championship Horse Racing

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Championship Racing Limited trading as Championship Horse Racing

Company Information

Directors

B Z Spivack J P Wray

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Championship Racing Limited trading as Championship Horse Racing

Statement of Financial Position as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Investments	4	2	2
Current assets
Debtors	5	352	35,066
Cash at bank and in hand		24,746	19,590
		25,098	54,656
Creditors: Amounts falling due within one year	6	(5,817,027)	(5,257,105)
Net current liabilities		(5,791,929)	(5,202,449)
Total assets less current liabilities		(5,791,927)	(5,202,447)
Creditors: Amounts falling due after more than one year	6	-	(10,000)
Net liabilities		(5,791,927)	(5,212,447)
Capital and reserves
Called up share capital		258	258
Share premium reserve		1,349,533	1,349,533
Retained earnings		(7,141,718)	(6,562,238)
Shareholders' deficit		(5,791,927)	(5,212,447)

For the financial year ending 30 September 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Championship Racing Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Championship Racing Limited trading as Championship Horse Racing

Statement of Financial Position as at 30 September 2025

Approved and authorised by the Board on 26 June 2026 and signed on its behalf by:
 

.........................................

B Z Spivack

Director

.........................................

J P Wray

Director

Company registration number: 10801939

Championship Racing Limited trading as Championship Horse Racing

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the organisation and promotion of horse racing events.

2	Accounting policies

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a loss for the year ended 30 September 2025 and had a deficiency of assets of £5,791,927 at this date. At this date an amount of £4,709,028 was due to two shareholders and £119,374 was due to the directors, all of whom have agreed to not call for repayment until such time as the company has sufficient working capital.

The company has successfully delivered 30 meetings and 199 highly competitive professional races over the past five years. Having established that a league concept has a place within the British horse racing calendar, the Directors are confident that with the correct commercial partners, Racing League will return in 2027.

Notwithstanding that the licensing agreement for Racing League delivery in the UK was not extended in 2026, the company is able to continue to develop and realise its commercial potential whilst maintaining minimal running costs and required resources. It can therefore look to further progress being achieved across all key metrics next year

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the organisation and promotion of horse racing events in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

Championship Racing Limited trading as Championship Horse Racing

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3	Staff numbers

The average number of persons employed by the company during the year, was 0 (2024 - 0).

Championship Racing Limited trading as Championship Horse Racing

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

4	Investments

	2025 £	2024 £
Investments in subsidiaries	2	2