Grand Prix Farriers Limited - Filleted accounts

Registered number

14328425

Grand Prix Farriers Limited

Filleted Accounts

31 October 2025

Grand Prix Farriers Limited
Registered number: 14328425
Balance Sheet
as at 31 October 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		8,575			9,800
Tangible assets	4		7,728			5,226
			16,303			15,026

Current assets
Stocks		2,250			2,250
Debtors	5	13,612			3,188
Cash at bank and in hand		200			532
		16,062			5,970

Creditors: amounts falling due within one year	6	(32,351)			(20,502)

Net current liabilities			(16,289)			(14,532)

Total assets less current liabilities			14			494

Capital and reserves
Called up share capital			4			4
Profit and loss account			10			490

Shareholders' funds			14			494

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The statement of income and retained earnings has not been delivered to the Registrar of Companies.



……………………………………
Mr L E Lloyd
Director
Approved by the board on 30 July 2026

Grand Prix Farriers Limited
Notes to the Accounts
for the year ended 31 October 2025


1	Accounting policies

	The principal accounting policies adopted in the preparation of the accounts are set out below; they have remained unchanged from the previous period and have been consistently applied:

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland, Section 1A (small entities). There have been no material departures from that standard.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulated amortisation and impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			10% on reducing balance
	Motor vehicles			10% on reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the 'first in first out' method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					1.00		1.00


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 November 2024							12,250
	At 31 October 2025							12,250

	Amortisation
	At 1 November 2024							2,450
	Provided during the year							1,225
	At 31 October 2025							3,675

	Net book value
	At 31 October 2025							8,575
	At 31 October 2024							9,800

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
								Plant and machinery
£
	Cost
	At 1 November 2024							5,807
	Additions							3,361
	At 31 October 2025							9,168

	Depreciation
	At 1 November 2024							581
	Charge for the year							859
	At 31 October 2025							1,440

	Net book value
	At 31 October 2025							7,728
	At 31 October 2024							5,226


5	Debtors					2025		2024
£							£

	Trade debtors					776		1,590
	Deferred tax asset					536		1,452
	Other debtors					12,300		146
						13,612		3,188


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					2,175		30
	Taxation and social security costs					23,644		15,760
	Other creditors					6,532		4,712
						32,351		20,502


7	Loans to directors
	During the year the company made advances to directors. No interest was paid on these amounts, and no significant conditions were stipulated. These advances, together with amounts repaid, are set out below:	B/fwd	Paid		Repaid		C/fwd
£			£		£		£

	Total loans to director	(25)		61,057		(48,732)		12,300

	The above amounts include no individually material advances, together with individually material repayments of £16,000 and £11,000. The maximum balance during the year was £15,467.


8	Other information

	Grand Prix Farriers Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Ralls House, Parklands Business Park, Forest Road, Denmead, Waterlooville, Hants, PO7 6XP.