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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
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NORFOLK SPORTS AND PERFORMANCE CARS LIMITED Company Information for the year ended 31 December 2022
Director
Raymond Farmer
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
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NORFOLK SPORTS AND PERFORMANCE CARS LIMITED Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
50,000 
50,000 
Current assets
Inventories
- 
180,000 
Debtors
- 
217,778 
- 
397,778 
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 
Capital and reserves
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
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NORFOLK SPORTS AND PERFORMANCE CARS LIMITED Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
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.
3
Accounting policies
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.
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% straight line
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2022
50,000 
At 31 December 2022
50,000 
Depreciation
At 31 December 2022
- 
Net book value
At 31 December 2022
50,000 
At 31 December 2021
50,000 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
217,778 
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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 
£ 
£ 
Trade creditors
- 
3,500 
Taxes and social security
90,631 
90,631 
Loans from directors
- 
200,000 
90,631 
294,131 
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).
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