Company registration number 13460227 (England and Wales)
POINT RACING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
POINT RACING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
POINT RACING LIMITED (REGISTERED NUMBER: 13460227)
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
3,090
3,002
Cash at bank and in hand
3,883
3,399
6,973
6,401
Creditors: amounts falling due within one year
4
(1,232)
(885)
Net current assets
5,741
5,516
Creditors: amounts falling due after more than one year
5
(2,700)
(2,700)
Deferred income
(3,000)
(3,000)
Net assets/(liabilities)
41
(184)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
39
(186)
Total equity
41
(184)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved and signed by the director and authorised for issue on 5 October 2023
Mr Clive Letherby
Director
POINT RACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Point Racing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 15, Chaucer Industrial Park, Sevenoaks, Kent, TN15 6PL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
POINT RACING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
3,090
3,002
4
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
9
165
Other creditors
1,223
720
1,232
885
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
2,700
2,700
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