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
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
GT Race & Trailers Limited
Statement of financial position
as at 31 March 2023
Tangible assets
308,634
281,073
Cash at bank and in hand
199,171
171,293
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
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
GT Race & Trailers Limited
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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
At 31 March 2023
229,126
31,640
47,868
308,634
At 31 March 2022
191,960
36,967
52,146
281,073
GT Race & Trailers Limited
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
19,272
5,905
Trade creditors
49,425
99,590
Taxes and social security
21,425
7,129
Loans from directors
10,875
29,719
Deferred income
3,856
35,887
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 5 (2022: 6).