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REGISTERED NUMBER: 04131488 (England and Wales)















ABP MOTORSPORT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






ABP MOTORSPORT LIMITED (REGISTERED NUMBER: 04131488)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABP MOTORSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: C G H Meredith
Mrs S J Meredith
Mrs S M Wilcox
K Sawford
S J Mountford
R A Broughton
D I Roberts





SECRETARY: Mrs S J Meredith





REGISTERED OFFICE: 416 Newcastle Road
Shavington
Crewe
Cheshire
CW2 5EB





REGISTERED NUMBER: 04131488 (England and Wales)






ABP MOTORSPORT LIMITED (REGISTERED NUMBER: 04131488)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,303 10,616
Tangible assets 5 32,615 37,585
37,918 48,201

CURRENT ASSETS
Stocks 37,666 47,341
Debtors 6 7,049 10,124
Cash at bank and in hand 456,779 416,648
501,494 474,113
CREDITORS
Amounts falling due within one year 7 111,119 121,309
NET CURRENT ASSETS 390,375 352,804
TOTAL ASSETS LESS CURRENT
LIABILITIES

428,293

401,005

PROVISIONS FOR LIABILITIES 8,643 7,127
NET ASSETS 419,650 393,878

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Profit and loss account 418,650 392,878
SHAREHOLDERS' FUNDS 419,650 393,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 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 company.

ABP MOTORSPORT LIMITED (REGISTERED NUMBER: 04131488)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2022 and were signed on its behalf by:





C G H Meredith - Director


ABP MOTORSPORT LIMITED (REGISTERED NUMBER: 04131488)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

ABP Motorsport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced work done, excluding Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided for at the following annual rates in order to write off the cost of each asset over its
estimated useful life:

Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company makes contributions to employees' personal pension schemes. Contributions payable for the year are charged in the profit and loss account.

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 11 ) .

ABP MOTORSPORT LIMITED (REGISTERED NUMBER: 04131488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 106,250
AMORTISATION
At 1 April 2021 95,634
Charge for year 5,313
At 31 March 2022 100,947
NET BOOK VALUE
At 31 March 2022 5,303
At 31 March 2021 10,616

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2021 95,858 9,238 8,085 113,181
Additions 1,700 - - 1,700
Disposals (1,751 ) - (8,085 ) (9,836 )
At 31 March 2022 95,807 9,238 - 105,045
DEPRECIATION
At 1 April 2021 61,173 6,741 7,682 75,596
Charge for year 5,345 375 101 5,821
Eliminated on disposal (1,204 ) - (7,783 ) (8,987 )
At 31 March 2022 65,314 7,116 - 72,430
NET BOOK VALUE
At 31 March 2022 30,493 2,122 - 32,615
At 31 March 2021 34,685 2,497 403 37,585

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 14 13
Corporation tax recoverable - 3,250
Prepayments 7,035 6,861
7,049 10,124

ABP MOTORSPORT LIMITED (REGISTERED NUMBER: 04131488)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 33,314 35,102
Corporation tax 30,456 26,911
Social security and other taxes 200 14,318
Directors' current accounts 2,500 2,500
Accrued expenses 44,649 42,478
111,119 121,309

8. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £299,976.