1 March 2022 false No description of principal activity Taxfiler 2023.10.1 11021167business:PrivateLimitedCompanyLtd2022-03-012023-02-28 110211672022-02-28 110211672022-03-012023-02-28 11021167business:AuditExempt-NoAccountantsReport2022-03-012023-02-28 11021167business:FilletedAccounts2022-03-012023-02-28 110211672023-02-28 11021167business:Director12022-03-012023-02-28 11021167business:RegisteredOffice2022-03-012023-02-28 110211672022-02-28 11021167core:WithinOneYear2023-02-28 11021167core:WithinOneYear2022-02-28 11021167core:AfterOneYear2023-02-28 11021167core:AfterOneYear2022-02-28 11021167core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 11021167core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 11021167core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 11021167core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 11021167core:PreviouslyStatedAmount2023-02-28 11021167core:PreviouslyStatedAmount2022-02-28 11021167business:SmallEntities2022-03-012023-02-28 11021167countries:EnglandWales2022-03-012023-02-28 11021167core:PlantMachinery2022-03-012023-02-28 11021167core:MotorVehicles2022-03-012023-02-28 11021167core:ComputerEquipment2022-03-012023-02-28 11021167core:PlantMachinery2022-02-28 11021167core:MotorVehicles2022-02-28 11021167core:ComputerEquipment2022-02-28 11021167core:PlantMachinery2023-02-28 11021167core:MotorVehicles2023-02-28 11021167core:ComputerEquipment2023-02-28 110211672020-09-012022-02-28 iso4217:GBP xbrli:pure
Company Registration No. 11021167 (England and Wales)
Avon Racing Ltd Unaudited accounts for the year ended 28 February 2023
Avon Racing Ltd Unaudited accounts Contents
Page
- 2 -
Avon Racing Ltd Company Information for the year ended 28 February 2023
Director
M Harris
Company Number
11021167 (England and Wales)
Registered Office
57 Ely Street Stratford upon Avon CV37 6LN
Accountants
FILAN Accountants Ltd 57 Ely Street Stratford upon Avon CV37 6LN
- 3 -
Avon Racing Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
44,270 
20,320 
Current assets
Inventories
503,038 
91,604 
Debtors
272,976 
186,157 
Cash at bank and in hand
17,545 
27,360 
793,559 
305,121 
Creditors: amounts falling due within one year
(753,800)
(274,041)
Net current assets
39,759 
31,080 
Total assets less current liabilities
84,029 
51,400 
Creditors: amounts falling due after more than one year
(11,250)
(16,250)
Net assets
72,779 
35,150 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
72,679 
35,050 
Shareholders' funds
72,779 
35,150 
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 8 November 2023 and were signed on its behalf by
M Harris Director Company Registration No. 11021167
- 4 -
Avon Racing Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Avon Racing Ltd is a private company, limited by shares, registered in England and Wales, registration number 11021167. The registered office is 57 Ely Street, Stratford upon Avon, CV37 6LN.
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
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:
Plant & machinery
25% RB
Motor vehicles
25% RB
Computer equipment
25% SL
These financial statements for the year ended 28 February 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2020. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
18,491 
18,950 
- 
37,441 
Additions
- 
38,000 
708 
38,708 
At 28 February 2023
18,491 
56,950 
708 
76,149 
Depreciation
At 1 March 2022
7,053 
10,068 
- 
17,121 
Charge for the year
2,860 
11,721 
177 
14,758 
At 28 February 2023
9,913 
21,789 
177 
31,879 
Net book value
At 28 February 2023
8,578 
35,161 
531 
44,270 
At 28 February 2022
11,438 
8,882 
- 
20,320 
- 5 -
Avon Racing Ltd Notes to the Accounts for the year ended 28 February 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
216,776 
171,438 
Accrued income and prepayments
25,874 
14,719 
Other debtors
30,326 
- 
272,976 
186,157 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,000 
5,000 
Trade creditors
548,984 
130,060 
Taxes and social security
15,084 
46,512 
Other creditors
27,485 
26,179 
Loans from directors
134,825 
66,290 
Accruals
22,422 
- 
753,800 
274,041 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
11,250 
16,250 
8
Average number of employees
During the year the average number of employees was 18 (2022: 16).
- 6 -