REGISTERED NUMBER: 14433938 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

SPEED COMPETITIONS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J E Townsend

REGISTERED OFFICE:

24 Wellington Street

Millom

Cumbria

LA18 4DE

REGISTERED NUMBER:

14433938 (England and Wales)

BANKERS:

Zempler Bank Ltd

Cottons Centre

Cottons Lane

London

SE1 2QG

FIXED ASSETS

Intangible assets

4

24,719

-

Tangible assets

5

115,593

50,650

Investment property

6

1,171,397

-

1,311,709

50,650

CURRENT ASSETS

Stocks

90,947

113,497

Debtors

260,427

39,437

Cash at bank

507,111

353,500

858,485

506,434

CREDITORS

Amounts falling due within one year

679,910

267,934

NET CURRENT ASSETS

178,575

238,500

TOTAL ASSETS LESS CURRENT LIABILITIES

1,490,284

289,150

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

1,490,184

289,050

SHAREHOLDERS' FUNDS

1,490,284

289,150

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 September 2026 and were signed by:

Mr J E Townsend - Director

1.	STATUTORY INFORMATION

Speed Competitions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services and rental income, excluding VAT.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Buildings

-

not provided

Plant and machinery

-

25% on cost

Computer equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

Additions

29,719

At 31 October 2025

29,719

AMORTISATION

Amortisation for year

5,000

At 31 October 2025

5,000

NET BOOK VALUE

At 31 October 2025

24,719

Cost or valuation at 31 October 2025 is represented by:

Totals

£

Valuation in 2025

29,719

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2024

54,475

Additions

88,842

At 31 October 2025

143,317

DEPRECIATION

At 1 November 2024

3,825

Charge for year

23,899

At 31 October 2025

27,724

NET BOOK VALUE

At 31 October 2025

115,593

At 31 October 2024

50,650

Buildings have not been depreciated which is a departure from Financial Reporting Standard 102 and

from the Companies Act 2006. Depreciation if provided would not have been of a material nature. The directors consider that this policy results in the financial statements showing a true and fair view.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,216,997

Disposals

(45,600

)

At 31 October 2025

1,171,397

NET BOOK VALUE

At 31 October 2025

1,171,397

Fair value at 31 October 2025 is represented by:

£

Valuation in 2025

1,171,397

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.25

31.10.24

value:

£

£

100

Ordinary

£1

100

100

8.	RELATED PARTY DISCLOSURES

During the year the company's director, Mr J Townsend, had on an interest-free basis advanced £27 (2024: £196) to the company. This amount is unsecured and repayable on demand.

Rental expenses includes £2,233 paid to JT Storage Solutions Ltd, a company also controlled by Mr J Townsend.

Other debtors includes the following amounts at 31 Oct 25:-

£47,427 Townsend Properties & Investments Ltd, a company controlled by Mr J Townsend

£120,000 Mr G Townsend, the brother of Mr J Townsend

£47,999 Lakestone Developments Ltd, a company controlled by Mr G Townsend.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J E Townsend.