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Company Registration No. 08966257 (England and Wales)
GT Race & Trailers Limited Unaudited accounts for the year ended 31 March 2023
GT Race & Trailers Limited Unaudited accounts Contents
Page
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GT Race & Trailers Limited Company Information for the year ended 31 March 2023
Directors
Alasdair Scott Guthrie Michael Andrew Gardner
Company Number
08966257 (England and Wales)
Registered Office
Unit 4 Gardners Court Great North Road Industrial Estate Sutton-On-Trent Nottinghamshire NG23 6QS United Kingdom
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GT Race & Trailers Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
308,634 
281,073 
Current assets
Inventories
73,051 
90,417 
Debtors
3,570 
13,711 
Cash at bank and in hand
199,171 
171,293 
275,792 
275,421 
Creditors: amounts falling due within one year
(125,679)
(198,406)
Net current assets
150,113 
77,015 
Total assets less current liabilities
458,747 
358,088 
Creditors: amounts falling due after more than one year
(75,154)
(41,647)
Provisions for liabilities
Deferred tax
(58,654)
(53,545)
Net assets
324,939 
262,896 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
324,839 
262,796 
Shareholders' funds
324,939 
262,896 
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by
Alasdair Scott Guthrie Director Company Registration No. 08966257
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GT Race & Trailers Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
GT Race & Trailers Limited is a private company, limited by shares, registered in England and Wales, registration number 08966257. The registered office is Unit 4 Gardners Court, Great North Road Industrial Estate, Sutton-On-Trent, Nottinghamshire, NG23 6QS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Varies with asset over lifespan
Motor vehicles
Varies with asset over lifespan
Fixtures & fittings
Varies with asset over lifespan
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
251,214 
104,251 
68,010 
423,475 
Additions
80,733 
- 
517 
81,250 
At 31 March 2023
331,947 
104,251 
68,527 
504,725 
Depreciation
At 1 April 2022
59,254 
67,284 
15,864 
142,402 
Charge for the year
43,567 
5,327 
4,795 
53,689 
At 31 March 2023
102,821 
72,611 
20,659 
196,091 
Net book value
At 31 March 2023
229,126 
31,640 
47,868 
308,634 
At 31 March 2022
191,960 
36,967 
52,146 
281,073 
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GT Race & Trailers Limited Notes to the Accounts for the year ended 31 March 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
509 
Trade debtors
3,570 
9,597 
Other debtors
- 
3,605 
3,570 
13,711 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
19,272 
5,905 
VAT
19,644 
17,934 
Trade creditors
49,425 
99,590 
Taxes and social security
21,425 
7,129 
Other creditors
282 
208 
Loans from directors
10,875 
29,719 
Accruals
900 
2,034 
Deferred income
3,856 
35,887 
125,679 
198,406 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
75,154 
41,647 
8
Average number of employees
During the year the average number of employees was 5 (2022: 6).
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