Company registration number 10892732 (England and Wales)
STUWEB RACE ENTRIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
STUWEB RACE ENTRIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
STUWEB RACE ENTRIES LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
10,147
147
Cash at bank and in hand
21,034
38,718
31,181
38,865
Creditors: amounts falling due within one year
4
(16,363)
(29,325)
Net current assets
14,818
9,540
Capital and reserves
Called up share capital
199
199
Profit and loss reserves
14,619
9,341
Total equity
14,818
9,540
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 March 2024 and are signed on its behalf by:
S Steele
Director
Company Registration No. 10892732
STUWEB RACE ENTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information
StuWeb Race Entries Limited is a private company limited by shares incorporated in England and Wales. The registered office is 26 Cradley Road, Cradley Heath, West Midlands, B64 6AG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
STUWEB RACE ENTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
147
147
Other debtors
10,000
10,147
147
4
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,328
1,168
Other creditors
14,035
28,157
16,363
29,325