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REGISTERED NUMBER: 07944908 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

GD Motorsport Limited

GD Motorsport Limited (Registered number: 07944908)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GD Motorsport Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Dixon
Mrs P Dixon - Zak
Mrs B M Yardley
O J Yardley





SECRETARY:





REGISTERED OFFICE: Williamston House
7 Goat Street
HAVERFORDWEST
Pembrokeshire
SA61 1PX





REGISTERED NUMBER: 07944908 (England and Wales)

GD Motorsport Limited (Registered number: 07944908)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,129 1,711
Investment property 5 250,000 250,000
251,129 251,711

CURRENT ASSETS
Debtors 10,849 16,903
Cash at bank 40,091 39,423
50,940 56,326
CREDITORS
Amounts falling due within one year 14,822 12,642
NET CURRENT ASSETS 36,118 43,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

287,247

295,395

CREDITORS
Amounts falling due after more than one year 6 (21,620 ) (39,798 )

PROVISIONS FOR LIABILITIES (13,295 ) (13,295 )
NET ASSETS 252,332 242,302

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 64,617 64,617
Retained earnings 187,713 177,683
SHAREHOLDERS' FUNDS 252,332 242,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GD Motorsport Limited (Registered number: 07944908)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:




G Dixon - Director



O J Yardley - Director


GD Motorsport Limited (Registered number: 07944908)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

GD Motorsport Limited 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 as modified by the revaluation of certain assets.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 7,701
Additions 100
At 31 December 2023 7,801
DEPRECIATION
At 1 January 2023 5,990
Charge for year 682
At 31 December 2023 6,672
NET BOOK VALUE
At 31 December 2023 1,129
At 31 December 2022 1,711

GD Motorsport Limited (Registered number: 07944908)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 250,000
NET BOOK VALUE
At 31 December 2023 250,000
At 31 December 2022 250,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 250,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.12.23 31.12.22
£    £   
Repayable by instalments
Other loans more 5yrs instal 2,420 20,598

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Other loans 26,420 44,598

The loan is secured on the freehold property of the company.

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 64,617