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Classic Racing Motor Cycle Club Limited
 
 
Company Registration Number
02102654
 
 
Report of the Directors and
Unaudited Financial Statements
 
 
Period of accounts
 
Start date 01/11/2017
 
End date 31/10/2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
Classic Racing Motor Cycle Club Limited
 
Contents of the Financial Statements
for the Period Ended 31 October 2018
 
 
Page
Company Information 3
 
Report of the Directors 4
 
Profit and Loss Account 5
 
Balance Sheet 6 - 7
 
Notes to the Financial Statements 8 - 12
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
Classic Racing Motor Cycle Club Limited
 
Company Information
for the Period Ended 31 October 2018
 
Directors Anthony Dale Finch
Mark Stephen George
John Davidson
 
 
Registered office Houndshill Cottage
Banbury Road, Ettington
Stratford-upon-Avon
Warwickshire CV37 7NS
 
Company Registration Number 02102654
 
Accountants Name Alan Clark
Address 5 Church Farm Close
Weston Longville
Norwich
NR9 5JY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
Classic Racing Motor Cycle Club Limited
Directors Report
for the Period Ended 31 October 2018
The directors present their report with the financial statements of the company for the
period ended 31 October 2018
Principal activities
The principal activity of the company in the period under review was
the preservation and use of post-war racing and sporting nachines.
Directors
The director(s) shown below have held office during the whole of the period
Anthony Dale Finch
Mark Stephen George
John Davidson
Small Company Provisions
These accounts have been prepared in accordance with the provisions applicable to
companies subject to the small companies regime.
 
This report was approved by the board of directors on 2018-11-09
and signed on behalf of the board by
Name Anthony Dale Finch
Status Director
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 4
Classic Racing Motor Cycle Club Limited
 
Profit and Loss Account
for the Period Ended 31 October 2018
2018 2017
Notes £ £
 
Turnover 2 584,116 657,085
Cost of sales 21,735 21,240
______ ______
Gross Profit/(Loss) 562,381 635,845
 
Distribution costs 13,092 15,803
Administrative expenses 571,607 602,128
______ ______
Operating costs 584,699 617,931
 
______ ______
Operating Profit/(Loss) 3 (22,318) 17,914
______ ______
Interest receivable and similar 464 147
______ ______
Net Finance income/(Loss) 464 147
______ ______
Profit/(Loss) on ordinary activities before taxation (21,854) 18,061
 
Tax on profit on ordinary activities 4 88 29
______ _____
Profit/(Loss) for the financial period after taxation (21,942) 18,032
There were no recognised gains or losses other than the profit/(loss) shown attributable to the
shareholders for the period ended 31 October 2018
 
The notes form part of these financial statements
 
 
 
 
 
 
Page 5
Classic Racing Motor Cycle Club Limited
Balance Sheet
for the Period Ended 31 October 2018
Company registration number 02102654
2018 2017
Notes £ £
Fixed assets
Tangible fixed assets 5 4,221 8,666
_______ _______
Total fixed assets 4,221 8,666
Current assets
Debtors 7 7,321 11,578
Cash at bank and in hand 278,555 301,969
_______ _______
Total current assets/(liabilities) 285,876 313,547
Creditors
Creditors - amounts falling
due within one year 8 15,760 25,924
_______ _______
Net current assets 270,116 287,623
_______ _______
Total assets less current liabilities 274,337 296,289
_______ _______
Net assets/(liabilities) 274,337 296,289
Capital and reserves
Called up share capital 9 2 2
Profit and loss account 10 274,345 296,287
______ ______
Total shareholders funds 274,347 296,289
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 6
Classic Racing Motor Cycle Club Limited
 
Balance Sheet
for the Period Ended 31 October 2018
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The option not to file the profit and loss account has been taken.
 
For the year ending 31 October 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The members have agreed to the preparation of abridged accounts.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 
The financial statements were approved by the Board of Directors on 2018-11-09
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name Anthony Dale Finch
Status Director
 
The notes form part of these financial statements
 
 
 
 
 
 
 
Page 7
Classic Racing Motor Cycle Club Limited
Notes to the Financial Statements
for the Period Ended 31 October 2018
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Going Concern
The company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors,which has been confirmed for a period of at least twelve months from the approval of the financial statements.Accordingly the directors have prepared the financial statements on the going concern basis.
Turnover
The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.Long-term and ongoing contracts turnover represents the value of work done including estimates of amounts not yet invoiced and is recognised by reference to the stage of completion.
Tangible fixed assets Depreciation
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery 25% Straight Line
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 8
Classic Racing Motor Cycle Club Limited
Notes to the Financial Statements
for the Period Ended 31 October 2018
2. Turnover 2018 2017
£ £
United Kingdom 584,116 657,085
______ ______
Total 584,116 657,085
3. Operating profit/(loss) 2018 2017
Profit before tax as stated after charging the following £ £
4. Taxation
The tax charge on the profit on ordinary activities 2018 2017
for the period was as follows £ £
UK Corporation Tax net of reliefs 88 29
__ __
Tax on profit on ordinary activities 88 29
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 9
Classic Racing Motor Cycle Club Limited
Notes to the Financial Statements
for the Period Ended 31 October 2018
5. Tangible fixed assets
Plant and Total
machinery
Cost £ £
At 1 November 2017 8,666 8,666
____ ____
At 31 October 2018 8,666 8,666
Depreciation
At 1 November 2017
Charge for year 4,445 4,445
____ ____
At 31 October 2018 4,445 4,445
Net book value
At 31 October 2018 4,221 4,221
At 31 October 2017 8,666 8,666
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 10
Classic Racing Motor Cycle Club Limited
Notes to the Financial Statements
for the Period Ended 31 October 2018
6. Fixed asset investments 2018 2017
Total
7. Debtors 2018 2017
Other debtors 7,270 11,578
Prepayments and accrued income 51
____ _____
Total 7,321 11,578
8. Creditors amounts falling due within one year 2018 2017
Corporation tax 88 29
Other taxation and social security 6,221 3,821
Accruals and deferred income 4,245
Other creditors 9,451 17,829
_____ _____
Total 15,760 25,924
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 11
Classic Racing Motor Cycle Club Limited
Notes to the Financial Statements
for the Period Ended 31 October 2018
9. Share capital 2018 2017
Allotted, called up and paid £ £
Ordinary 2 2
_ _
Total 2 2
10. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 November 2017 296,287
Profit/(Loss) for year (21,942)
Dividends paid
______
Retained Profit/(Loss) at 31 October 2018 274,345
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 12