One Day Motorsport Ltd 14026869 false 2022-04-05 2023-03-31 2023-03-31 The principal activity of the company is that of car repairs and upgrades. Digita Accounts Production Advanced 6.30.9574.0 true 14026869 2022-04-05 2023-03-31 14026869 2023-03-31 14026869 core:RetainedEarningsAccumulatedLosses 2023-03-31 14026869 core:ShareCapital 2023-03-31 14026869 core:CurrentFinancialInstruments 2023-03-31 14026869 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 14026869 core:MotorVehicles 2023-03-31 14026869 bus:SmallEntities 2022-04-05 2023-03-31 14026869 bus:AuditExemptWithAccountantsReport 2022-04-05 2023-03-31 14026869 bus:FullAccounts 2022-04-05 2023-03-31 14026869 bus:SmallCompaniesRegimeForAccounts 2022-04-05 2023-03-31 14026869 bus:RegisteredOffice 2022-04-05 2023-03-31 14026869 bus:Director2 2022-04-05 2023-03-31 14026869 bus:PrivateLimitedCompanyLtd 2022-04-05 2023-03-31 14026869 core:MotorCars 2022-04-05 2023-03-31 14026869 core:MotorVehicles 2022-04-05 2023-03-31 14026869 countries:EnglandWales 2022-04-05 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 14026869

One Day Motorsport Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Period from 5 April 2022 to 31 March 2023

 

One Day Motorsport Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

One Day Motorsport Ltd

Company Information

Director

J Kembrey

Registered office

Unit 10 West Hay Farm
Wolvershill
Banwell
BS29 6LE

Accountants

Burton Sweet Limited
Spencer House
Aisecome Way
Morston Court
Weston-super-Mare
Somerset
BS22 8NG

 

One Day Motorsport Ltd

(Registration number: 14026869)
Balance Sheet
31 March 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

3,525

Current assets

 

Stocks

5

18,358

Debtors

6

4,071

Cash at bank and in hand

 

3,599

 

26,028

Creditors: Amounts falling due within one year

7

(16,046)

Net current assets

 

9,982

Net assets

 

13,507

Capital and reserves

 

Called up share capital

10

Retained earnings

13,497

Shareholders' funds

 

13,507

 

One Day Motorsport Ltd

(Registration number: 14026869)
Balance Sheet
31 March 2023

For the financial period ending 31 March 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 members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 November 2023
 

.........................................
J Kembrey
Director

 

One Day Motorsport Ltd

Notes to the Unaudited Financial Statements
Period from 5 April 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 10 West Hay Farm
Wolvershill
Banwell
BS29 6LE

These financial statements were authorised for issue by the director on 9 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

One Day Motorsport Ltd

Notes to the Unaudited Financial Statements
Period from 5 April 2022 to 31 March 2023

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

 

One Day Motorsport Ltd

Notes to the Unaudited Financial Statements
Period from 5 April 2022 to 31 March 2023

4

Tangible assets

Motor vehicles
 £

Cost or valuation

Additions

4,700

At 31 March 2023

4,700

Depreciation

Charge for the period

1,175

At 31 March 2023

1,175

Carrying amount

At 31 March 2023

3,525

5

Stocks

2023
£

Other inventories

18,358

6

Debtors

2023
£

Other debtors

4,071

4,071

 

One Day Motorsport Ltd

Notes to the Unaudited Financial Statements
Period from 5 April 2022 to 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Taxation and social security

 

3,699

Other creditors

 

12,347

 

16,046