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Company Registration No. 12825917 (England and Wales)
World Race Circuits Ltd Unaudited accounts for the year ended 31 August 2025
World Race Circuits Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
World Race Circuits Ltd Company Information for the year ended 31 August 2025
Director
Christopher George Brandon Chapman
Company Number
12825917 (England and Wales)
Registered Office
28 Waresley Road Gamlingay Sandy SG19 3NN United Kingdom
Accountants
Sleek Accounting Ltd 4th Floor 205 Regent Street London W1B 4HB
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World Race Circuits Ltd Statement of financial position as at 31 August 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
8,321
21,134
Current assets
Inventories
8,000
8,000
Debtors
5
768
11,684
Cash at bank and in hand
641
13,632
9,409
33,316
Creditors: amounts falling due within one year
6
(26,006)
(51,355)
Net current liabilities
(16,597)
(18,039)
Total assets less current liabilities
(8,276)
3,095
Creditors: amounts falling due after more than one year
7
(12,583)
(23,801)
Net liabilities
(20,859)
(20,706)
Capital and reserves
Called up share capital
8
1
1
Profit and loss account
(20,860)
(20,707)
Shareholders' funds
(20,859)
(20,706)
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 July 2026 and were signed on its behalf by
Christopher George Brandon Chapman Director Company Registration No. 12825917
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World Race Circuits Ltd Notes to the Accounts for the year ended 31 August 2025
1
Statutory information
World Race Circuits Ltd is a private company, limited by shares, registered in England and Wales, registration number 12825917. The registered office is 28 Waresley Road, Gamlingay, Sandy, SG19 3NN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4yr Straight Line
Motor vehicles
4yr Straight Line
Fixtures & fittings
4yr Straight Line
Computer equipment
3yr Straight Line
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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World Race Circuits Ltd Notes to the Accounts for the year ended 31 August 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2024
28,065
32,799
3,048
10,393
74,305
Additions
237
4,472
-
256
4,965
Disposals
(195)
(143)
(363)
(427)
(1,128)
At 31 August 2025
28,107
37,128
2,685
10,222
78,142
Depreciation
At 1 September 2024
22,126
21,668
1,923
7,454
53,171
Charge for the year
3,655
8,926
-
867
13,448
On disposals
1,498
188
762
754
3,202
At 31 August 2025
27,279
30,782
2,685
9,075
69,821
Net book value
At 31 August 2025
828
6,346
-
1,147
8,321
At 31 August 2024
5,939
11,131
1,125
2,939
21,134
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
768
-
Accrued income and prepayments
-
646
Other debtors
-
11,038
768
11,684
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
16,065
16,911
VAT
1,804
2,990
Trade creditors
-
1,403
Taxes and social security
7,747
4,429
Loans from directors
390
-
Accruals
-
25,622
26,006
51,355
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
12,583
23,801
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
- 6 -
World Race Circuits Ltd Notes to the Accounts for the year ended 31 August 2025
9
Average number of employees
During the year the average number of employees was 1 (2024: 0).
- 7 -