2021-11-01
05247804
2022-10-31
05247804
2021-11-01
2022-10-31
05247804
2021-10-31
05247804
2020-11-01
2021-10-31
05247804
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2021-10-31
05247804
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2022-10-31
05247804
uk-core:ShareCapital
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05247804
uk-core:ShareCapital
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05247804
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05247804
uk-core:RetainedEarningsAccumulatedLosses
2021-10-31
05247804
uk-bus:Director1
2021-11-01
2022-10-31
05247804
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2021-11-01
2022-10-31
05247804
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05247804
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2021-10-31
05247804
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05247804
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05247804
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05247804
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05247804
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2021-10-31
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05247804
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2021-11-01
2022-10-31
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uk-bus:PrivateLimitedCompanyLtd
2021-11-01
2022-10-31
| Richard Hughes Racing Limited |
| Registered Number:05247804 |
For the year ended 31 October 2022
England and Wales
Unaudited Financial Statements
2
For the year ended 31 October 2022
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
2021
2022
| Property, plant and equipment |
301,062
293,252
2
301,062
293,252
321,767
211,610
3
| Trade and other receivables |
1,433,284
1,118,951
4
863,906
| Cash and cash equivalents |
876,908
2,207,469
2,618,957
| Trade and other payables: amounts falling due within one |
| year |
(1,960,197)
(1,713,317)
5
658,760
494,152
Net current assets
| Total assets less current liabilities |
795,214
952,012
(12,056)
(8,767)
| Provisions for liabilities |
783,158
Net assets
943,245
1
1
783,157
943,244
783,158
943,245
Shareholders' funds
| For the year ended 31 October 2022 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 2022 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 24 October 2023 and were signed by: |
| The notes form part of these financial statements |
1 of 3
4
For the year ended 31 October 2022
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
809
809
-
266,059
77,136
343,195
| Provision for depreciation and impairment |
49,134
49,134
-
Charge for year
(7,001)
(7,001)
-
42,133
42,133
-
266,059
35,003
301,062
266,059
27,193
293,252
2 of 3
5
For the year ended 31 October 2022
Richard Hughes Racing Limited
Notes to the Financial Statements Continued
2021
2022
211,610
321,767
| 4. Trade and other receivables |
2021
2022
1,118,951
1,433,284
| 5. Trade and other payables: amounts falling due within one year |
2021
2022
| Bank loans and overdraft (secured) |
260,578
284,873
1,261,086
1,578,956
| Taxation and social security |
181,900
87,695
9,753
8,673
1,713,317
1,960,197
| 6. Average number of persons employed |
During the year the average number of employees was 27 (2021 : 25)
3 of 3
