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Company Registration No. 13420153 (England and Wales)
Racer Pictures Ltd Unaudited accounts for the year ended 31 May 2023
Racer Pictures Ltd Unaudited accounts Contents
Page
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Racer Pictures Ltd Company Information for the year ended 31 May 2023
Directors
Alvy Vincent J C Walker
Company Number
13420153 (England and Wales)
Registered Office
Studio 34, Action House 53 Sandgate Street London SE15 1LE
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Racer Pictures Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,333 
3,267 
Current assets
Cash at bank and in hand
6,963 
159 
Creditors: amounts falling due within one year
(8,683)
(3,161)
Net current liabilities
(1,720)
(3,002)
Net assets
613 
265 
Capital and reserves
Called up share capital
20 
20 
Profit and loss account
593 
245 
Shareholders' funds
613 
265 
For the year ending 31 May 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 23 August 2023 and were signed on its behalf by
Alvy Vincent Director Company Registration No. 13420153
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Racer Pictures Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Racer Pictures Ltd is a private company, limited by shares, registered in England and Wales, registration number 13420153. The registered office is Studio 34, Action House, 53 Sandgate Street, London, SE15 1LE.
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:
Computer equipment
33 % Straight Line
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2022
4,287 
Additions
660 
At 31 May 2023
4,947 
Depreciation
At 1 June 2022
1,020 
Charge for the year
1,594 
At 31 May 2023
2,614 
Net book value
At 31 May 2023
2,333 
At 31 May 2022
3,267 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
3,804 
843 
Loans from directors
4,404 
1,915 
Accruals
475 
403 
8,683 
3,161 
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Racer Pictures Ltd Notes to the Accounts for the year ended 31 May 2023
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20 
20 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Alvy Vincent
Director Loan Account
4,643 
7,147 
11,790 
- 
J C Walker
Director Loan Account
(6,558)
5,863 
3,709 
(4,404)
(1,915)
13,010 
15,499 
(4,404)
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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