Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22022-03-14Sports activities and other amusement and recreation activites not elsewhere classifiedfalse 13974644 2022-03-13 13974644 2022-03-14 2023-03-31 13974644 2021-03-14 2022-03-13 13974644 2023-03-31 13974644 c:Director2 2022-03-14 2023-03-31 13974644 d:Buildings d:LongLeaseholdAssets 2022-03-14 2023-03-31 13974644 d:Buildings d:LongLeaseholdAssets 2023-03-31 13974644 d:LandBuildings 2023-03-31 13974644 d:CurrentFinancialInstruments 2023-03-31 13974644 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13974644 d:ShareCapital 2023-03-31 13974644 d:RetainedEarningsAccumulatedLosses 2023-03-31 13974644 c:OrdinaryShareClass1 2022-03-14 2023-03-31 13974644 c:OrdinaryShareClass1 2023-03-31 13974644 c:FRS102 2022-03-14 2023-03-31 13974644 c:AuditExempt-NoAccountantsReport 2022-03-14 2023-03-31 13974644 c:FullAccounts 2022-03-14 2023-03-31 13974644 c:PrivateLimitedCompanyLtd 2022-03-14 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13974644









WOLF MOTORSPORT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
WOLF MOTORSPORT LIMITED
REGISTERED NUMBER: 13974644

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Tangible assets
  
21,600

  
21,600

Current assets
  

Cash at bank and in hand
  
6,146

  
6,146

Creditors: amounts falling due within one year
  
(27,993)

Net current (liabilities)/assets
  
 
 
(21,847)

Total assets less current liabilities
  
(247)

  

Net (liabilities)/assets
  
(247)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(347)

  
(247)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 October 2023.



A Reade
Director

Page 1

 
WOLF MOTORSPORT LIMITED
REGISTERED NUMBER: 13974644
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
WOLF MOTORSPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Wolf Motorsport Limited is a private company limited by shares and incorporated in England and Wales. The registered office address of the company is Charles Lake House, Clire Clauseway, Dartford, United Kingdom, DA2 6QA. 
The principal activity of the company is sports activities and other amusement and recreation activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
WOLF MOTORSPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, provided on the following basis.


Long-term leasehold property
-
4%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
WOLF MOTORSPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including the directors during the period was 2.


4.


Tangible fixed assets





Long-term leasehold property

£



Cost or valuation


Additions
22,500



At 31 March 2023

22,500



Depreciation


Charge for the period on owned assets
900



At 31 March 2023

900



Net book value



At 31 March 2023
21,600




The net book value of land and buildings may be further analysed as follows:


2023
£

Long leasehold
21,600

21,600


Page 5

 
WOLF MOTORSPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
6,146

6,146



6.


Creditors: Amounts falling due within one year

2023
£

Other creditors
25,833

Accruals and deferred income
2,160

27,993



7.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


During the period, 100 Ordinary £1 share were issued at par.

 
Page 6