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REGISTRAR
Company registration number: 03370846
Willsford Racing Limited
Unaudited filleted financial statements
31 May 2023
Willsford Racing Limited
Contents
Statement of financial position
Notes to the financial statements
Willsford Racing Limited
Statement of financial position
31 May 2023
2023 2022
Note £ £ £ £
Current assets
Cash at bank and in hand 163 285
_______ _______
163 285
Creditors: amounts falling due
within one year 5 ( 1,147,178) ( 1,147,156)
_______ _______
Net current liabilities ( 1,147,015) ( 1,146,871)
_______ _______
Total assets less current liabilities ( 1,147,015) ( 1,146,871)
_______ _______
Net liabilities ( 1,147,015) ( 1,146,871)
_______ _______
Capital and reserves
Called up share capital 6 1 1
Profit and loss account ( 1,147,016) ( 1,146,872)
_______ _______
Shareholder deficit ( 1,147,015) ( 1,146,871)
_______ _______
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 September 2023 , and are signed on behalf of the board by:
Mr A M Kaplan MBE
Director
Company registration number: 03370846
Willsford Racing Limited
Notes to the financial statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, B16 9HN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity and have been rounded to the nearest £1.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 22 -
Other creditors 1,147,156 1,147,156
_______ _______
1,147,178 1,147,156
_______ _______
6. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______