Company Registration No. 12018062 (England and Wales)
NORFOLK SPORTS AND PERFORMANCE CARS LIMITED
Unaudited accounts
for the year ended 31 December 2022
NORFOLK SPORTS AND PERFORMANCE CARS LIMITED
Unaudited accounts
Contents
NORFOLK SPORTS AND PERFORMANCE CARS LIMITED
Company Information
for the year ended 31 December 2022
Company Number
12018062 (England and Wales)
Registered Office
4 Low Road
swaffham
PE37 7PU
Accountants
Grow Your Business East Anglia Ltd
30 Market Place
Swaffham
Norfolk
PE37 7QH
NORFOLK SPORTS AND PERFORMANCE CARS LIMITED
Statement of financial position
as at 31 December 2022
Tangible assets
50,000
50,000
Creditors: amounts falling due within one year
(90,631)
(294,131)
Net current (liabilities)/assets
(90,631)
103,647
Net (liabilities)/assets
(40,631)
153,647
Called up share capital
100
100
Profit and loss account
(40,731)
153,547
Shareholders' funds
(40,631)
153,647
For the year ending 31 December 2022 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 20 December 2023 and were signed on its behalf by
Raymond Farmer
Director
Company Registration No. 12018062
NORFOLK SPORTS AND PERFORMANCE CARS LIMITED
Notes to the Accounts
for the year ended 31 December 2022
NORFOLK SPORTS AND PERFORMANCE CARS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12018062. The registered office is 4 Low Road, swaffham, PE37 7PU.
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 principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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:
Plant & machinery
25% straight line
4
Tangible fixed assets
Plant & machinery
At 31 December 2022
50,000
At 31 December 2022
50,000
At 31 December 2021
50,000
Amounts falling due within one year
NORFOLK SPORTS AND PERFORMANCE CARS LIMITED
Notes to the Accounts
for the year ended 31 December 2022
6
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
90,631
90,631
Loans from directors
-
200,000
The amount of £150,000 in the director loan was cleared by a dividend within 3 months of the year-end.
7
Transactions with related parties
The company has £78,010 of payments it is making that are on credit cards in the personal name of the Director, Mr R Farmer. These are company debts, meeting company business expenditure that were taken out on cards that were in the directors name before the company had banking facilities. they are therefore company liabilities despite them being in Mr R Farmers name.
8
Average number of employees
During the year the average number of employees was 0 (2021: 0).