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
Avon Racing Ltd
Company Information
for the year ended 28 February 2023
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
Avon Racing Ltd
Statement of financial position
as at 28 February 2023
Tangible assets
44,270
20,320
Inventories
503,038
91,604
Cash at bank and in hand
17,545
27,360
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)
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
Avon Racing Ltd
Notes to the Accounts
for the year ended 28 February 2023
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
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
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
At 28 February 2023
8,578
35,161
531
44,270
At 28 February 2022
11,438
8,882
-
20,320
Avon Racing Ltd
Notes to the Accounts
for the year ended 28 February 2023
Amounts falling due within one year
Trade debtors
216,776
171,438
Accrued income and prepayments
25,874
14,719
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
7
Creditors: amounts falling due after more than one year
2023
2022
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Average number of employees
During the year the average number of employees was 18 (2022: 16).