**REGISTERED COMPANY NUMBER: 07313143 (England and Wales) REGISTERED CHARITY NUMBER: 1146454** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2025 for Kartforce K H Accounting 12 Montgomery Road Newbury Berkshire RG14 6HU Kartforce Contents of the Financial Statements for the Year Ended 31 July 2025 ||Page| |---|---| |Report of the Trustees|1 to 2| |Independent Examiner's Report|3| |Statement of Financial Activities|4| |Balance Sheet|5 to 6| |Cash Flow Statement|7| |Notes to the Cash Flow Statement|8| |Notes to the Financial Statements|9 to 15| |Detailed Statement of Financial Activities|16| Kartforce ## Report of the Trustees for the Year Ended 31 July 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** To assist wounded service personnel and veterans, by advancing any lawful charitable purpose at the discretion of the trustees and in particular, but not exclusively, by empowering, engaging and inspiring the disabled and disadvantaged community by the provision of training and assistance. Enabling them to participate in karting, and compete alongside able bodied persons in challenging karting events ## **Public benefit** The trustees have taken regard and operated under the Charity Commissions guidance on public benefit. ## **ACHIEVEMENTS AND PERFORMANCE** The charity continues to achieve its aim of inspiring disabled and disadvantage service personal and veterans with karting, and competing in karting events. ## **FINANCIAL REVIEW** ## **Financial position** A substantial donation was received at the end of the financial year but little activity other than this. These funds will now enable the charity to continue with supporting disabled motor sport in future years. Surplus results for the year £499931 (2024:deficit £102). ## **Reserves policy** The charity will maintain sufficient reserves to ensure the continuity of operations. As at the year end 31st July 2025 reserves were £500291 (2024: £360). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity is governed by its objects as laid out in the memorandum and articles of association. ## **Recruitment and appointment of new trustees** To employ and remunerate such staff as are necessary for carrying out the work of the charity. The charity may employ or remunerate a trustee only to the extent it is permitted to do so by article 7 and provided it complies with the conditions in that article. ## **Organisational structure** Day to day running of the charity is carried out by Mike Scudamore. Page 1 Kartforce ## Report of the Trustees ## for the Year Ended 31 July 2025 ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 07313143 (England and Wales) ## **Registered Charity number** 1146454 ## **Registered office** Units B2-B3 Rock Business Park Washington RH20 3GR ## **Trustees** M Scudamore A Locke P Fullick (appointed 1.1.25) ## **Company Secretary** A Locke ## **Independent Examiner** Kim Hedges K H Accounting 12 Montgomery Road Newbury Berkshire RG14 6HU This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 12 March 2026 and signed on its behalf by: M Scudamore - Trustee Page 2 Independent Examiner's Report to the Trustees of Kartforce ## **Independent examiner's report to the trustees of Kartforce ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2025. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Kim Hedges The Association of Chartered Certified Accountants K H Accounting 12 Montgomery Road Newbury Berkshire RG14 6HU 12 March 2026 Page 3 Kartforce ## Statement of Financial Activities ## (Incorporating an Income and Expenditure Account) for the Year Ended 31 July 2025 |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
4
Support costs of charitable activities
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31.7.25
Unrestricted
fund
£
629,880
6,350
123,599
129,949
499,931
360
500,291|31.7.24
Total
funds
£
-
-
102
102
(102)
462
360| |---|---|---| The notes form part of these financial statements Page 4 Kartforce ## Balance Sheet ## 31 July 2025 |Notes
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|31.7.25
Unrestricted
fund
£
100
179
500,012
500,191
500,191
500,291
500,291
500,291
500,291|31.7.24
Total
funds
£
100
260
-| |---|---|---| |||260| |||260| |||360| |||360| |||360| |||360| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company. The notes form part of these financial statements Page 5 continued... Kartforce ## Balance Sheet - continued ## 31 July 2025 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 12 March 2026 and were signed on its behalf by: M Scudamore - Trustee The notes form part of these financial statements Page 6 Kartforce |Cash Flow Statement
for the Year Ended 31 July 2025
Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) operating
activities
**Change in cash and cash**
**equivalents in the reporting**
**period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the**
**end of the reporting period**|31.7.25
£
500,012
500,012
500,012
-
500,012|31.7.24
£
(362)
(362)
(362)
362
-| |---|---|---| The notes form part of these financial statements Page 7 Kartforce ## Notes to the Cash Flow Statement for the Year Ended 31 July 2025 **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**Net income/(expenditure) for the reporting period (as per**
**the Statement of Financial Activities)**
**Adjustments for:**
movement in interco debt
**Net cash provided by/(used in) operations**|31.7.25
£
499,931
81
500,012|31.7.24
£
(102)
(260)
(362)| |---|---|---| ## **2. ANALYSIS OF CHANGES IN NET FUNDS** |**Net cash**
Cash at bank
**Total**|At 1.8.24
£
-
-
-|Cash flow
At 31.7.25
£
£
500,012
500,012
500,012
500,012
500,012
500,012| |---|---|---| The notes form part of these financial statements Page 8 Kartforce Notes to the Financial Statements for the Year Ended 31 July 2025 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', 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 cost convention, with the exception of investments which are included at market value. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Raising funds** The policy for including items within the relevant activity categories of resources expended. In particular the policy for including items within costs of generating funds, charitable activities and governance costs is to assist wounded service personnel and veterans, by advancing any lawful charitable purpose at the discretion of the directors and in particular but not exclusively by empowering, engaging and inspiring the disabled and disadvantaged community by the provision of the training and assistance. Enabling them to participate in karting and compete alongside able bodied persons in challenging karting events. the charity has power to do anything which is calculated to further its objects or is conductive or incidental to do so. In particular, the charity has power: 1) to raise funds, in doing so, the charity must not undertake any taxable permanent trading activity and must comply with any relevant statutory regulations. 2) to buy, take on lease or in exchange, hire or otherwise acquire any property and maintain and equip it for use. 3) to sell, lease or otherwise dispose of all or any part of the property belonging to the charity. In exercising this power, the charity must comply as appropriate with sections 36 and 37 of the Charities Act 1993, as amended by the Charities Act 2006. Page 9 continued... Kartforce Notes to the Financial Statements - continued for the Year Ended 31 July 2025 ## **1. ACCOUNTING POLICIES - continued** ## **Raising funds** 4) to borrow money and to change the whole or any part of the property belonging to the charity as security for repayment if the money borrowed or as security for a grant or discharge of an obligation. The charity must comply as appropriate with sections 38 and 39 of the Charities Act 1993, as amended by the Charities Act 2006, if it wishes to mortgage land. ## **Charitable activities** The charity can co-operate with other charities, voluntary bodies and statutory authorities and to exchange information and advice with them. The charity can establish or support any charitable trusts, associations formed for any of the charitable purposes included in the objects. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Investments** Investments in subsidiary companies are held at cost. ## **2. DONATIONS AND LEGACIES** |Grants & donations
Grants received, included in the above, are as follows:
Grants|31.7.25
£
629,880
31.7.25
£
629,880|31.7.24
£
-| |---|---|---| |||31.7.24
£
-| Page 10 continued... Kartforce Notes to the Financial Statements - continued for the Year Ended 31 July 2025 ## **3. RAISING FUNDS** ## **Raising donations and legacies** |Event costs
**CHARITABLE ACTIVITIES COSTS**
Support costs of charitable
activities
**SUPPORT COSTS**
Support costs of charitable activities|Direct
Costs
£
123,500|31.7.25
31.7.24
£
£
6,350
-
Support
costs (see
note 5)
Totals
£
£
99
123,599
Management
£
99| |---|---|---| ## **4. CHARITABLE ACTIVITIES COSTS** ## **5. SUPPORT COSTS** ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024. ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted|Unrestricted| |---|---|---| ||fund|| ||£|| |**EXPENDITURE ON**||| |**Charitable activities**||| |Support costs of charitable activities||102| |**NET INCOME/(EXPENDITURE)**|(102)|| |**RECONCILIATION OF FUNDS**||| |Total funds brought forward||462| Page 11 continued... Kartforce ## Notes to the Financial Statements - continued for the Year Ended 31 July 2025 ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** ||Unrestricted| |---|---| ||fund| ||£| |**TOTAL FUNDS CARRIED**|| |**FORWARD**|360| |**FIXED ASSET INVESTMENTS**|| ||Shares in| ||group| ||undertakings| ||£| |**MARKET VALUE**|| |At 1 August 2024 and 31 July 2025|100| |**NET BOOK VALUE**|| |At 31 July 2025|100| |At 31 July 2024|100| ## **8. FIXED ASSET INVESTMENTS** There were no investment assets outside the UK. The company's investments at the balance sheet date in the share capital of companies include the following: ## **Team Brit Ltd** Registered office: Nature of business: inspire with motor sport people with disabilities ||%||| |---|---|---|---| |Class of share:|holding||| |Ordinary|100||| |||31.7.25|31.7.24| |||£|£| |Aggregate capital and reserves||226,875|90,385| |Profit for the year||136,490|163,529| Page 12 continued... Kartforce ## Notes to the Financial Statements - continued for the Year Ended 31 July 2025 |**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Amounts owed by group undertakings
**10.**
**MOVEMENT IN FUNDS**
At 1.8.24
£
**Unrestricted funds**
General fund
360
**TOTAL FUNDS**
360
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
629,880
**TOTAL FUNDS**
629,880
**Comparatives for movement in funds**
At 1.8.23
£
**Unrestricted funds**
General fund
462
**TOTAL FUNDS**
462|31.7.25
£
179
Net
movement
in funds
£
499,931
499,931
Resources
expended
£
(129,949)
(129,949)
Net
movement
in funds
£
(102)
(102)|31.7.24
£
260
At
31.7.25
£
500,291
500,291
Movement
in funds
£
499,931
499,931
At
31.7.24
£
360
360| |---|---|---| Page 13 continued... Kartforce Notes to the Financial Statements - continued for the Year Ended 31 July 2025 ## **10. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|-|(102)|(102)| |**TOTAL FUNDS**|-|(102)|(102)| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.8.23
£
462
462|Net
movement
in funds
£
499,829
499,829|At
31.7.25
£
500,291| |---|---|---|---| ||||500,291| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
629,880
629,880|Resources
expended
£
(130,051)
(130,051)|Movement
in funds
£
499,829
499,829| |---|---|---|---| Page 14 continued... Kartforce Notes to the Financial Statements - continued for the Year Ended 31 July 2025 ## **11. RELATED PARTY DISCLOSURES** At the year end a balance was due from its subsidiary Team Brit Ltd of £179 (2024: £260). This amount shown in debtors. Donations paid in the year £123500 (2024: £0). Page 15 Kartforce |Detailed Statement of Financial Activities
for the Year Ended 31 July 2025
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Grants & donations
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Event costs
**Charitable activities**
Donations
**Support costs**
**Management**
Bank charges
Total resources expended
**Net income/(expenditure)**|31.7.25
£
629,880
629,880
6,350
123,500
99
129,949
499,931|31.7.24
£
-
-
-
-
102
102
(102)| |---|---|---| This page does not form part of the statutory financial statements Page 16