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REGISTERED NUMBER: 03909497 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

SWR Motorsport Limited

SWR Motorsport Limited (Registered number: 03909497)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


SWR Motorsport Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr W H S Waudby
Mrs G Waudby





SECRETARY: Mrs G Waudby





REGISTERED OFFICE: Unit 2 Parkend Parkway
Harlow Business Park
Harlow
Essex
CM19 5QF





REGISTERED NUMBER: 03909497 (England and Wales)





ACCOUNTANTS: Parker Hartley & Co
Incorporated Financial Accountants
2 Waverley Street
The Groves
York
YO31 7QZ

SWR Motorsport Limited (Registered number: 03909497)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,039 60,295

CURRENT ASSETS
Stocks 5 237,243 198,818
Debtors 6 74,911 133,416
Cash at bank and in hand 317,038 360,706
629,192 692,940
CREDITORS
Amounts falling due within one year 7 281,185 352,818
NET CURRENT ASSETS 348,007 340,122
TOTAL ASSETS LESS CURRENT
LIABILITIES

407,046

400,417

PROVISIONS FOR LIABILITIES - 1,859
NET ASSETS 407,046 398,558

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 8 406,046 397,558
407,046 398,558

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 12 October 2023 and were signed on its behalf by:




Mr W H S Waudby - Director



Mrs G Waudby - Director


SWR Motorsport Limited (Registered number: 03909497)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

SWR 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 284,975 80,989 8,306 374,270
Additions - 31,250 493 31,743
Disposals - (24,575 ) - (24,575 )
At 31 March 2023 284,975 87,664 8,799 381,438
DEPRECIATION
At 1 April 2022 248,810 58,245 6,920 313,975
Charge for year 16,712 15,394 893 32,999
Eliminated on disposal - (24,575 ) - (24,575 )
At 31 March 2023 265,522 49,064 7,813 322,399
NET BOOK VALUE
At 31 March 2023 19,453 38,600 986 59,039
At 31 March 2022 36,165 22,744 1,386 60,295

5. STOCKS
31/3/23 31/3/22
£    £   
Stocks 237,243 198,818

SWR Motorsport Limited (Registered number: 03909497)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 64,871 127,281
Deferred tax asset 3,015 -
Prepayments 7,025 6,135
74,911 133,416

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors 57,163 28,868
Corporation Tax 13,868 16,757
Social security and other taxes 14,646 12,033
VAT 64,468 45,109
Other creditors 2,388 2,694
Sale receipts in advance 120,088 228,957
Directors' current accounts 5,529 15,423
Accrued expenses 3,035 2,977
281,185 352,818

8. RESERVES
Retained
earnings
£   

At 1 April 2022 397,558
Profit for the year 38,488
Dividends (30,000 )
At 31 March 2023 406,046

9. OTHER FINANCIAL COMMITMENTS

SWR Motorsport Limited had outstanding commitments in respect of operating leases as at 31 March 2023 of £18,000. The breakdown of the periods that they are due are as follows:

Due in less than one year- £18,000
Due in 1-5 years- £nil
Due in more than one year- £nil

Total- £18,000.