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REGISTERED NUMBER: 12565588 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Reyland Motorsport Ltd

Reyland Motorsport Ltd (Registered number: 12565588)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reyland Motorsport Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTOR: M Hadland





REGISTERED OFFICE: Unit 17 Enfield Industrial Estate
Enfield
Redditch
B97 6BG





REGISTERED NUMBER: 12565588 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Reyland Motorsport Ltd (Registered number: 12565588)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,742 21,678
Investments 5 16,000 -
28,742 21,678

CURRENT ASSETS
Stocks 70,250 29,220
Debtors 6 541 8,333
Cash at bank 305,951 431,368
376,742 468,921
CREDITORS
Amounts falling due within one year 7 16,289 116,424
NET CURRENT ASSETS 360,453 352,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

389,195

374,175

PROVISIONS FOR LIABILITIES 3,186 4,119
NET ASSETS 386,009 370,056

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 386,008 370,055
386,009 370,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Reyland Motorsport Ltd (Registered number: 12565588)

Balance Sheet - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 February 2024 and were signed by:





M Hadland - Director


Reyland Motorsport Ltd (Registered number: 12565588)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Reyland Motorsport Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Reyland Motorsport Ltd (Registered number: 12565588)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2022 15,741 25,926 41,667
Disposals - (8,861 ) (8,861 )
At 30 April 2023 15,741 17,065 32,806
DEPRECIATION
At 1 May 2022 8,134 11,855 19,989
Charge for year 1,521 3,518 5,039
Eliminated on disposal - (4,964 ) (4,964 )
At 30 April 2023 9,655 10,409 20,064
NET BOOK VALUE
At 30 April 2023 6,086 6,656 12,742
At 30 April 2022 7,607 14,071 21,678

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 16,000
At 30 April 2023 16,000
NET BOOK VALUE
At 30 April 2023 16,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Other debtors 541 8,333

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 1,734 26,156
Taxation and social security 11,505 90,268
Other creditors 3,050 -
16,289 116,424

Reyland Motorsport Ltd (Registered number: 12565588)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

30.4.23 30.4.22
£    £   
M Hadland
Balance outstanding at start of year 8,333 -
Amounts advanced - 8,333
Amounts repaid (8,333 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 8,333

9. RELATED PARTY DISCLOSURES

The company occupies business premises owned by the directors, these are occupied on a rent free basis.

10. ULTIMATE CONTROLLING PARTY

The controlling party is M Hadland.