JAC Racing LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC412277

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		187,752		209,095

			187,752		209,095
CURRENT ASSETS
Stocks	5	200,927		215,518
Debtors	6	23,927		23,766
Cash at bank and in hand		6,825		4,126

		231,679		243,410
Creditors: Amounts Falling Due Within One Year	7	(206,077 )		(314,404 )

NET CURRENT ASSETS (LIABILITIES)			25,602		(70,994 )

TOTAL ASSETS LESS CURRENT LIABILITIES			213,354		138,101

NET ASSETS ATTRIBUTABLE TO MEMBERS			213,354		138,101

REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability		213,354		138,101

			213,354		138,101

			213,354		138,101

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			213,354		138,101

			213,354		138,101

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JAC Racing LLP

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mrs J A Brown Designated Member	Mr S Brown Designated Member
16/10/2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

JAC Racing LLP is a limited liability partnership, incorporated in England & Wales, registered number OC412277 . The Registered Office is Martha's Lodge, 106 Welham Road, Norton, Malton, North Yorkshire, YO17 9DS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in May 2024 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	No depreciation
Plant & Machinery	20% reducing balance
Motor Vehicles	25% reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 21 (2025: 20)

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JAC Racing LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 April 2025	88,773	116,361	135,941	341,075
Additions	-	1,411	6,500	7,911
Disposals	-	(1,094 )	(1,300 )	(2,394 )

As at 31 March 2026	88,773	116,678	141,141	346,592

Depreciation
As at 1 April 2025	-	54,026	77,954	131,980
Provided during the period	-	12,688	16,078	28,766
Disposals	-	(783 )	(1,123 )	(1,906 )

As at 31 March 2026	-	65,931	92,909	158,840

Net Book Value
As at 31 March 2026	88,773	50,747	48,232	187,752

As at 1 April 2025	88,773	62,335	57,987	209,095

5. Stocks

	2026	2025
	£	£
Stock	72,399	92,733
Work in progress	128,528	122,785

	200,927	215,518

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	13,009	15,809
Other debtors	10,918	7,957

	23,927	23,766

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	78,970	198,705
Bank loans and overdrafts	39,202	57,576
Other creditors	22,440	22,477
Taxation and social security	65,465	35,646

	206,077	314,404

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