Acorah Software Products - Accounts Production 16.6.920 false true true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 04580226 Mr P R Lewin Mr P R Lewin true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04580226 2023-11-30 04580226 2024-11-30 04580226 2023-12-01 2024-11-30 04580226 frs-core:CurrentFinancialInstruments 2024-11-30 04580226 frs-core:Non-currentFinancialInstruments 2024-11-30 04580226 frs-core:BetweenOneFiveYears 2024-11-30 04580226 frs-core:ComputerEquipment 2024-11-30 04580226 frs-core:ComputerEquipment 2023-12-01 2024-11-30 04580226 frs-core:ComputerEquipment 2023-11-30 04580226 frs-core:MotorVehicles 2024-11-30 04580226 frs-core:MotorVehicles 2023-12-01 2024-11-30 04580226 frs-core:MotorVehicles 2023-11-30 04580226 frs-core:PlantMachinery 2024-11-30 04580226 frs-core:PlantMachinery 2023-12-01 2024-11-30 04580226 frs-core:PlantMachinery 2023-11-30 04580226 frs-core:WithinOneYear 2024-11-30 04580226 frs-core:RevaluationReserve 2023-11-30 04580226 frs-core:RevaluationReserve 2024-11-30 04580226 frs-core:ShareCapital 2024-11-30 04580226 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 04580226 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 04580226 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 04580226 frs-bus:SmallEntities 2023-12-01 2024-11-30 04580226 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 04580226 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 04580226 1 2023-12-01 2024-11-30 04580226 frs-core:CostValuation 2023-11-30 04580226 frs-core:AdditionsToInvestments 2024-11-30 04580226 frs-core:DisposalsRepaymentsInvestments 2024-11-30 04580226 frs-core:CostValuation 2024-11-30 04580226 frs-core:ProvisionsForImpairmentInvestments 2023-11-30 04580226 frs-core:DisposalsDecreaseInProvisionsForImpairmentInvestments 2024-11-30 04580226 frs-core:ProvisionsForImpairmentInvestments 2024-11-30 04580226 frs-bus:Director1 2023-12-01 2024-11-30 04580226 frs-countries:EnglandWales 2023-12-01 2024-11-30 04580226 2022-11-30 04580226 2023-11-30 04580226 2022-12-01 2023-11-30 04580226 frs-core:CurrentFinancialInstruments 2023-11-30 04580226 frs-core:Non-currentFinancialInstruments 2023-11-30 04580226 frs-core:BetweenOneFiveYears 2023-11-30 04580226 frs-core:WithinOneYear 2023-11-30 04580226 frs-core:RevaluationReserve 2023-11-30 04580226 frs-core:ShareCapital 2023-11-30 04580226 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 04580226
Rupert Lewin Racing Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Adauxi Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04580226
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,000,536 592,170
Investments 5 1,074,773 1,051,848
2,075,309 1,644,018
CURRENT ASSETS
Debtors 6 1,340,509 1,641,959
Cash at bank and in hand 111,078 31,277
1,451,587 1,673,236
Creditors: Amounts Falling Due Within One Year 7 (1,731,800 ) (4,076,542 )
NET CURRENT ASSETS (LIABILITIES) (280,213 ) (2,403,306 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,795,096 (759,288 )
Creditors: Amounts Falling Due After More Than One Year 8 (1,075,810 ) (640,787 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (55,199 ) (13,020 )
NET ASSETS/(LIABILITIES) 664,087 (1,413,095 )
CAPITAL AND RESERVES
Called up share capital 11 400,001 400,001
Revaluation reserve 12 43,956 43,956
Profit and Loss Account 220,130 (1,857,052 )
SHAREHOLDERS' FUNDS 664,087 (1,413,095)
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P R Lewin
Director
25/11/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rupert Lewin Racing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04580226 . The registered office is B4 Parkside Knowledge Gateway, Nesfield Road, Colchester, Essex, CO4 3ZL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
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.
2.4. 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:
Plant & Machinery 12.5% straight line
Motor Vehicles 12.5% straight line
Computer Equipment 15% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 56,161 1,007,173 11,630 1,074,964
Additions - 284,965 1,166 286,131
Disposals - (90,231 ) - (90,231 )
As at 30 November 2024 56,161 1,201,907 12,796 1,270,864
Depreciation
As at 1 December 2023 16,096 455,068 11,630 482,794
Provided during the period 8,046 68,522 58 76,626
Disposals - (289,092 ) - (289,092 )
As at 30 November 2024 24,142 234,498 11,688 270,328
Net Book Value
As at 30 November 2024 32,019 967,409 1,108 1,000,536
As at 1 December 2023 40,065 552,105 - 592,170
Page 4
Page 5
5. Investments
Other
£
Cost or Valuation
As at 1 December 2023 1,130,291
Additions 616,313
Disposals (671,831 )
As at 30 November 2024 1,074,773
Provision
As at 1 December 2023 78,443
Disposals (78,443 )
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 1,074,773
As at 1 December 2023 1,051,848
6. Debtors
2024 2023
£ £
Due within one year
VAT receivable 13,754 24,661
Amounts owed by group undertakings 1,197,184 966,701
Amounts owed by participating interests 660 -
Other debtors 128,911 650,597
1,340,509 1,641,959
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 238,576 470,962
Trade creditors 20,164 62,127
Amounts owed to participating interests - 3,058,406
Other creditors 1,467,676 469,931
Taxation and social security 5,384 15,116
1,731,800 4,076,542
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,075,810 640,787
Page 5
Page 6
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 238,576 470,962
Later than one year and not later than five years 1,075,810 640,787
1,314,386 1,111,749
1,314,386 1,111,749
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 55,199 13,020
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 400,001 400,001
12. Reserves
Revaluation Reserve
£
As at 1 December 2023 43,956
As at 30 November 2024 43,956
13. Related Party Transactions
Compensation paid to key management personnel in the year was £nil (2023: £nil).
Companies under common control
These related parties have advanced funds to the company for its working capital purposes. Such funds are unsecured, do not bear interest and have no fixed date for repayment.  Total amounts due from the related parties are £660 (2023: £3,058,406 payable).
Subsidiary undertaking
The company has advanced funds to its subsidiary for working capital purposes. Such funds are unsecured, do not bear interest and have no fixed date for repayment.  Total amounts due from the related party are £1,197,184 (2023: £966,701).
14. Ultimate Controlling Party
The company's ultimate controlling party is Mr P R Lewin by virtue of his ownership of 100% of the issued share capital in the company.
Page 6