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REGISTERED NUMBER: 11681828 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Karting Limited

Karting Limited (Registered number: 11681828)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Karting Limited

Company Information
for the Year Ended 30 November 2023







Director: J K Hoyle





Registered office: Manley House Farm
Manley Lane
Manley
Frodsham
Cheshire
WA6 0PF





Registered number: 11681828 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Karting Limited (Registered number: 11681828)

Statement of Financial Position
30 November 2023

30/11/23 30/11/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 - 13,821

Current assets
Stocks - 14,250
Debtors 5 741 285
Cash at bank and in hand 20,524 45,643
21,265 60,178
Creditors
Amounts falling due within one year 6 2,418 16,682
Net current assets 18,847 43,496
Total assets less current liabilities 18,847 57,317

Creditors
Amounts falling due after more than
one year

7

-

(21,333

)

Provisions for liabilities - (2,626 )
Net assets 18,847 33,358

Capital and reserves
Called up share capital 100 100
Retained earnings 18,747 33,258
18,847 33,358

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Karting Limited (Registered number: 11681828)

Statement of Financial Position - continued
30 November 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 March 2024 and were signed by:





J K Hoyle - Director


Karting Limited (Registered number: 11681828)

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

1. Statutory information

Karting 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.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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% reducing balance
Fixtures and fittings - 20% reducing balance
Computer equipment - 20% on cost

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 statement of financial position date.


Karting Limited (Registered number: 11681828)

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

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2022 - 1 ) .

4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 December 2022 19,625 967 609 21,201
Disposals (19,625 ) (967 ) (609 ) (21,201 )
At 30 November 2023 - - - -
Depreciation
At 1 December 2022 7,065 193 122 7,380
Eliminated on disposal (7,065 ) (193 ) (122 ) (7,380 )
At 30 November 2023 - - - -
Net book value
At 30 November 2023 - - - -
At 30 November 2022 12,560 774 487 13,821

5. Debtors: amounts falling due within one year
30/11/23 30/11/22
£    £   
Other debtors 741 285

Karting Limited (Registered number: 11681828)

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

6. Creditors: amounts falling due within one year
30/11/23 30/11/22
£    £   
Bank loans and overdrafts - 8,000
Taxation and social security 2,139 7,257
Other creditors 279 1,425
2,418 16,682

7. Creditors: amounts falling due after more than one year
30/11/23 30/11/22
£    £   
Bank loans - 21,333

8. Director's advances, credits and guarantees

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

30/11/23 30/11/22
£    £   
J K Hoyle
Balance outstanding at start of year 152 -
Amounts advanced 100 152
Amounts repaid (152 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100 152

The maximum overdrawn balance during the year was £152. Advances to the director are unsecured, interest free and repayable on demand