FORMULA 1 LIMITED

Company Registration Number:
SC151432 (Scotland)

Unaudited micro entity accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

FORMULA 1 LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Footnotes to the Balance Sheet - 8

FORMULA 1 LIMITED

Company Information

for the Period Ended 31 March 2024




Director: Alan Shanks
Registered office: 10/13
Tower Place
Edinburgh
EH6 7BZ
Company Registration Number: SC151432 (Scotland)

FORMULA 1 LIMITED

Directors' Report Period Ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal Activities

The Company’s principal activity is property development and rental.

Directors

The directors shown below have held office during the whole of the period from 01 April 2023 to 31 March 2024
Alan Shanks

This report was approved by the board of directors on 15 April 2024
And Signed On Behalf Of The Board By:

Name: Alan Shanks
Status: Director

FORMULA 1 LIMITED

Profit and Loss Account

for the Period Ended 31 March 2024


2024
£

2023
£
Turnover 40,995 47,845
Income from coronavirus (COVID-19) business support grants 0 0
Other Income 1,768 -
Staff Costs ( 11,904 ) ( 10,548 )
Tax on Profit ( 4,658 ) ( 4,429 )
Profit or (Loss) for Period 26,201 32,868

FORMULA 1 LIMITED

Balance sheet

As at 31 March 2024


2024
£

2023
£
Called up share capital not paid: 0 0
Fixed Assets: 461,961 758,128
Current assets: 83,577 49,005
Creditors: amounts falling due within one year: ( 4,658 ) ( 6,109 )
Net current assets (liabilities): 78,919 42,896
Total assets less current liabilities: 540,880 801,024
Creditors: amounts falling due after more than one year: ( 0 ) ( 280,000 )
Total net assets (liabilities): 540,880 521,024
Capital and reserves: 540,880 521,024

FORMULA 1 LIMITED

Balance sheet continued

For the year ending 31 March 2024 the company was entitled to exemption 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 directors acknowledge their 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 of the small companies regime applicable to micro-entities.

This report was approved by the board of directors on 15 April 2024
And Signed On Behalf Of The Board By:

Name: Alan Shanks
Status: Director

The notes form part of these financial statements

FORMULA 1 LIMITED

Footnotes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Employee Information

    Average number of employees: 2

FORMULA 1 LIMITED

Footnotes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Off balance sheet disclosure

    No