Registered Number:10613118 |
For the year ended 28 February 2023
England and Wales
Unaudited Financial Statements
For the year ended 28 February 2023
M P Sports Cars Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
M P Sports Cars Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
43,989
37,172
2
43,989
37,172
345,000
578,500
3
Trade and other receivables |
174,812
239,295
4
111,221
Cash and cash equivalents |
56,441
874,236
631,033
Trade and other payables: amounts falling due within one |
year |
(215,739)
(472,037)
5
415,294
402,199
Net current assets
Total assets less current liabilities |
446,188
452,466
Trade and other payables: amounts falling due after more |
than one year |
(250,726)
(189,645)
6
256,543
Net assets
201,740
100
100
256,443
201,640
256,543
201,740
Shareholders' funds
For the year ended 28 February 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 of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 22 March 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 28 February 2023
M P Sports Cars Limited
Notes to the Financial Statements
Statutory Information
M P Sports Cars Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 10613118. |
Principal place of business: |
132, Elm Drive
Hartlebury Trading Estate
Hartlebury
Worcestershire
DY10 4JB
72 Dunstall Road
Halesowen
West Midlands
B63 1BE
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Computer Equipment
Furniture and Fittings
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
2 of 4
For the year ended 28 February 2023
M P Sports Cars Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
64,674
8,282
2,747
53,645
47,522
1,045
-
46,477
-
-
(44,084)
(44,084)
56,038
2,747
9,327
68,112
Provision for depreciation and impairment |
27,502
3,842
2,569
21,091
Charge for year
10,985
3,025
115
7,845
(14,364)
-
-
(14,364)
24,123
6,867
2,684
14,572
41,466
63
2,460
43,989
32,554
178
4,440
37,172
2022
2023
578,500
345,000
4. Trade and other receivables |
2022
2023
160,479
95,436
78,816
79,376
174,812
239,295
The debtors above include the following amounts falling due after more than one year: |
63,500
64,060
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For the year ended 28 February 2023
M P Sports Cars Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year |
2022
2023
32,582
41,715
65,143
26,320
Taxation and social security |
58,366
64,753
315,946
82,951
472,037
215,739
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
Bank loans and overdraft (secured) |
189,645
250,000
-
726
189,645
250,726
7. Average number of persons employed |
During the year the average number of employees was 8 (2022 : 8)
4 of 4