COMPANY REGISTRATION NUMBER:
04956111
Radford Sportscars Limited |
|
Filleted Unaudited Financial Statements |
|
Radford Sportscars Limited |
|
Statement of Financial Position |
|
31 December 2021
Fixed assets
Investments |
4 |
|
400,000 |
400,000 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
347,575 |
|
372,575 |
|
--------- |
|
--------- |
Net current liabilities |
|
347,575 |
372,575 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
52,425 |
27,425 |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
1 |
Profit and loss account |
|
52,424 |
27,424 |
|
|
-------- |
-------- |
Shareholders funds |
|
52,425 |
27,425 |
|
|
-------- |
-------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
26 July 2022
, and are signed on behalf of the board by:
Company registration number:
04956111
Radford Sportscars Limited |
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Notes to the Financial Statements |
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Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Turves Green Service Station Limited, 71 Turves Green, Birmingham, B31 4AH.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 January 2021 and 31 December 2021 |
400,000 |
|
--------- |
Impairment |
|
At 1 January 2021 and 31 December 2021 |
– |
|
--------- |
|
|
Carrying amount |
|
At 31 December 2021 |
400,000 |
|
--------- |
At 31 December 2020 |
400,000 |
|
--------- |
|
|
The company owns 100% of the issued share capital of Turves Green Service Station Limited. This company was incorporated in England and the nature of the business is that of a vehicle service and MOT station.
5.
Creditors:
amounts falling due within one year
|
2021 |
2020 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
347,575 |
372,575 |
|
--------- |
--------- |
|
|
|
The amounts owed to group undertakings relates to financial assistance given by Turves Green Service Station Limited.