2020-11-01
05247804
2021-10-31
05247804
2020-11-01
2021-10-31
05247804
2020-10-31
05247804
2019-11-01
2020-10-31
05247804
uk-core:WithinOneYear
2020-10-31
05247804
uk-core:WithinOneYear
2021-10-31
05247804
uk-core:ShareCapital
2021-10-31
05247804
uk-core:ShareCapital
2020-10-31
05247804
uk-core:RetainedEarningsAccumulatedLosses
2021-10-31
05247804
uk-core:RetainedEarningsAccumulatedLosses
2020-10-31
05247804
uk-bus:Director1
2020-11-01
2021-10-31
05247804
uk-core:PlantMachinery
2020-11-01
2021-10-31
05247804
uk-core:PlantMachinery
2020-10-31
05247804
uk-core:Buildings
2020-10-31
05247804
uk-core:Buildings
2021-10-31
05247804
uk-core:PlantMachinery
2021-10-31
05247804
uk-core:Buildings
2020-11-01
2021-10-31
05247804
uk-core:WithinOneYear
uk-core:Secured
2021-10-31
05247804
uk-core:WithinOneYear
uk-core:Secured
2020-10-31
iso4217:GBP
xbrli:pure
05247804
uk-bus:AuditExemptWithAccountantsReport
2020-11-01
2021-10-31
05247804
uk-bus:FRS102
2020-11-01
2021-10-31
05247804
uk-bus:FullAccounts
2020-11-01
2021-10-31
05247804
uk-bus:PrivateLimitedCompanyLtd
2020-11-01
2021-10-31
| Richard Hughes Racing Limited |
| Registered Number:05247804 |
For the year ended 31 October 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 31 October 2021
Richard Hughes Racing Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Richard Hughes Racing Limited
Statement of Financial Position
2020
2021
| Property, plant and equipment |
293,252
305,193
2
293,252
305,193
166,189
321,767
3
| Trade and other receivables |
1,068,132
1,433,284
4
727,224
| Cash and cash equivalents |
863,906
2,618,957
1,961,545
| Trade and other payables: amounts falling due within one |
| year |
(1,468,795)
(1,960,197)
5
492,750
658,760
Net current assets
| Total assets less current liabilities |
952,012
797,943
(8,767)
(7,778)
| Provisions for liabilities |
943,245
Net assets
790,165
1
1
943,244
790,164
943,245
790,165
Shareholders' funds
| For the year ended 31 October 2021 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 of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| Mr Richard Hughes Director |
| These financial statements were approved and authorised for issue by the Board on 31 October 2022 and were signed by: |
| The notes form part of these financial statements |
1 of 3
4
For the year ended 31 October 2021
Richard Hughes Racing Limited
Notes to the Financial Statements
Statutory Information
| Richard Hughes Racing Limited is a private limited company, limited by shares, domiciled in England and Wales, |
| registration number 05247804. |
Weathercock House & Stables
Upper Lambourne
Hungerford
Berkshire
RG17 8QT
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Inventories
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
| 2. Property, plant and equipment |
342,386
76,327
266,059
266,059
76,327
342,386
| Provision for depreciation and impairment |
37,193
37,193
-
Charge for year
11,941
11,941
-
49,134
49,134
-
266,059
27,193
293,252
266,059
39,134
305,193
2 of 3
5
For the year ended 31 October 2021
Richard Hughes Racing Limited
Notes to the Financial Statements Continued
2020
2021
321,767
166,189
| 4. Trade and other receivables |
2020
2021
1,433,284
1,068,132
| 5. Trade and other payables: amounts falling due within one year |
2020
2021
| Bank loans and overdraft (secured) |
284,873
241,974
1,578,956
1,068,389
| Taxation and social security |
87,695
138,527
8,673
19,905
1,960,197
1,468,795
| 6. Average number of persons employed |
During the year the average number of employees was 25 (2020 : 25)
3 of 3
