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Company Registration No. 14101364 (England and Wales)
G R P Axe Racing Ltd Unaudited accounts for the year ended 31 May 2023
G R P Axe Racing Ltd Unaudited accounts Contents
Page
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G R P Axe Racing Ltd Company Information for the year ended 31 May 2023
Director
Glen Richard Penlington
Company Number
14101364 (England and Wales)
Registered Office
8 Seven Acres Knighton LD7 1LF Wales
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G R P Axe Racing Ltd Statement of financial position as at 31 May 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
2,210 
Current assets
Inventories
2,070 
Debtors
144 
Cash at bank and in hand
4,661 
6,875 
Creditors: amounts falling due within one year
(4,028)
Net current assets
2,847 
Total assets less current liabilities
5,057 
Provisions for liabilities
Deferred tax
(420)
Net assets
4,637 
Capital and reserves
Called up share capital
1 
Profit and loss account
4,636 
Shareholders' funds
4,637 
For the year ending 31 May 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 February 2024 and were signed on its behalf by
Glen Richard Penlington Director Company Registration No. 14101364
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G R P Axe Racing Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
G R P Axe Racing Ltd is a private company, limited by shares, registered in England and Wales, registration number 14101364. The registered office is 8 Seven Acres, Knighton, LD7 1LF, Wales.
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 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
10% per annum reducing balance
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2022
- 
Additions
2,456 
At 31 May 2023
2,456 
Depreciation
Charge for the year
246 
At 31 May 2023
246 
Net book value
At 31 May 2023
2,210 
5
Debtors
2023 
£ 
Amounts falling due after more than one year
Trade debtors
144 
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G R P Axe Racing Ltd Notes to the Accounts for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023 
£ 
Trade creditors
1,326 
Taxes and social security
668 
Loans from directors
1,504 
Accruals
530 
4,028 
7
Average number of employees
During the year the average number of employees was 0.
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