Pocket Classics Racer is the toy car we've all been waiting for

British manufacturer Pocket Classics has unveiled the latest and possibly greatest addition to its range of expensive but oh so desirable toy cars.

The ‘Racer’ has been dubbed the ‘flagship model’ and is a tribute to the beautiful Formula One race cars from the 1960s. Pocket Classics says it has ‘thrown the engineering kitchen-sink’ at the new model and it definitely shows.

Measuring two metres long, the Racer is about half the size of its inspiration and comes with a 120cc air-cooled engine that can reach 45mph in standard tune and in excess of 80mph with a bit of owner modification. Adult supervision is advisable, then.

It has plenty of race-inspired touches including a limited-slip differential, rear-wheel drive, Brembo brakes with four-pot calipers that are bias adjustable, specially-developed crossply tyres, three-speed and reverse or four-speed automatic gearbox, alloy wheels and adjustable fully independent suspension.

Each car is hand-built to order over a period of 12 to 16 weeks and can be painted in one of nine classic racing colour schemes, including the green and yellow synonymous with Lotus and the black and gold John Player livery. The interior, meanwhile, can be black, dark brown, light brown, red or tan.

Optional extras can further pimp the Racer (and increase the bill), including a speed limiter (£50), seatbelt (£50), leather interior (£320), painted stripes or two-tone paint (£240) and racing numbers (£40).

Now we come to the good and bad news. The good news is that it is possible to adjust the pedal box so adults can steal it away from their children assuming, of course, you are not too tall.

The bad is the fact it costs £19,995 – as much as a brand new family car. Fortunately Pocket Classics is offering 20 per cent off, taking the total to a still eye-watering £15,995, if you order before the 21st of September 2015.

Suffice to say, this is one extremely expensive play thing for little Jonny but there is absolutely nothing else like it on the market for budding petrolheads and height-challenged adults.

Pocket Classics also told Recombu Cars it plans to make the Cobra or Roadster road-legal and that it wants to introduce a more basic entry-level car for those with slightly shallower pockets.

Check out some of the older models in action in the following video after feasting your eyes on the Racer in all of its splendour. Then wish you had really rich parents to buy it for you.