REGISTERED NUMBER: 04927029 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

RACEWAYS MOTORCYCLES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S A Rodgers

Mrs W Rodgers

Mr D Rodgers

Mr J Atkins

Mr A Rodgers

Mrs P Rodgers

REGISTERED OFFICE:

46/60 Dock Street

Fleetwood

Lancashire

FY7 6AG

REGISTERED NUMBER:

04927029 (England and Wales)

ACCOUNTANTS:

ma2 (Blackpool) Limited

288 Church Street

Blackpool

Lancashire

FY1 3QA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

337,401

414,327

337,401

414,327

CURRENT ASSETS

Stocks

1,217,597

1,226,632

Debtors

6

86,652

1,866

Cash at bank and in hand

1,776,306

1,802,296

3,080,555

3,030,794

CREDITORS

Amounts falling due within one year

7

1,202,929

1,301,093

NET CURRENT ASSETS

1,877,626

1,729,701

TOTAL ASSETS LESS CURRENT LIABILITIES

2,215,027

2,144,028

PROVISIONS FOR LIABILITIES

8

43,099

62,331

NET ASSETS

2,171,928

2,081,697

CAPITAL AND RESERVES

Called up share capital

2,000

990

Share premium

67,250

-

Retained earnings

2,102,678

2,080,707

2,171,928

2,081,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by:

Mr S A Rodgers - Director

1.	STATUTORY INFORMATION

Raceways Motorcycles Limited 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

125,000

AMORTISATION

At 1 March 2024

and 28 February 2025

125,000

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

165,000

1,528,991

1,693,991

Additions

-

57,500

57,500

At 28 February 2025

165,000

1,586,491

1,751,491

DEPRECIATION

At 1 March 2024

-

1,279,664

1,279,664

Charge for year

-

134,426

134,426

At 28 February 2025

-

1,414,090

1,414,090

NET BOOK VALUE

At 28 February 2025

165,000

172,401

337,401

At 29 February 2024

165,000

249,327

414,327

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Debtors and prepayments

86,652

1,866

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Creditors

1,104,994

1,023,015

Tax

119,706

153,738

Social security and other taxes

(30,439

)

115,553

Directors' current accounts

545

763

Accrued expenses

8,123

8,024

1,202,929

1,301,093

8.	PROVISIONS FOR LIABILITIES

28.2.25

29.2.24

£

£

Deferred tax

43,099

62,331

Deferred

tax

£

Balance at 1 March 2024

62,331

Movement in year

(19,232

)

Balance at 28 February 2025

43,099

9.	RELATED PARTY DISCLOSURES

There is no ultimate controlling party and therefore the company is controlled by its directors.

At the start of the year, the company owed the directors £763. At 28th February 2025, the company owed the directors £545.