0 false false false false false false false false false false true false false false false false false 2022-09-30 Sage Accounts Production Advanced 2023 - FRS102_2023 130,552 116,236 12,444 128,680 1,872 14,316 xbrli:pure xbrli:shares iso4217:GBP 08687146 2022-09-30 2023-09-29 08687146 2023-09-29 08687146 2022-09-29 08687146 2021-10-01 2022-09-29 08687146 2022-09-29 08687146 2021-09-30 08687146 core:PlantMachinery 2022-09-30 2023-09-29 08687146 bus:Director3 2022-09-30 2023-09-29 08687146 core:PlantMachinery 2022-09-29 08687146 core:PlantMachinery 2023-09-29 08687146 core:WithinOneYear 2023-09-29 08687146 core:WithinOneYear 2022-09-29 08687146 core:ShareCapital 2023-09-29 08687146 core:ShareCapital 2022-09-29 08687146 core:SharePremium 2023-09-29 08687146 core:SharePremium 2022-09-29 08687146 core:CapitalRedemptionReserve 2023-09-29 08687146 core:CapitalRedemptionReserve 2022-09-29 08687146 core:RetainedEarningsAccumulatedLosses 2023-09-29 08687146 core:RetainedEarningsAccumulatedLosses 2022-09-29 08687146 core:PlantMachinery 2022-09-29 08687146 bus:SmallEntities 2022-09-30 2023-09-29 08687146 bus:AuditExemptWithAccountantsReport 2022-09-30 2023-09-29 08687146 bus:SmallCompaniesRegimeForAccounts 2022-09-30 2023-09-29 08687146 bus:PrivateLimitedCompanyLtd 2022-09-30 2023-09-29 08687146 bus:FullAccounts 2022-09-30 2023-09-29 08687146 core:AllAssociates 2022-09-30 2023-09-29 08687146 core:KeyManagementPersonnel 2022-09-30 2023-09-29
COMPANY REGISTRATION NUMBER: 08687146
Track-Enduro Limited
Filleted Unaudited Financial Statements
29 September 2023
Track-Enduro Limited
Financial Statements
Year ended 29 September 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Track-Enduro Limited
Statement of Financial Position
29 September 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
1,872
14,316
Current assets
Debtors
6
110,517
9,982
Cash at bank and in hand
3,564
101,901
---------
---------
114,081
111,883
Creditors: amounts falling due within one year
7
346,600
342,420
---------
---------
Net current liabilities
232,519
230,537
---------
---------
Total assets less current liabilities
( 230,647)
( 216,221)
---------
---------
Net liabilities
( 230,647)
( 216,221)
---------
---------
Capital and reserves
Called up share capital
267
267
Share premium account
374,521
374,521
Capital redemption reserve
1,400
1,400
Profit and loss account
( 606,835)
( 592,409)
---------
---------
Shareholders deficit
( 230,647)
( 216,221)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 March 2024 , and are signed on behalf of the board by:
Mr A R Balon
Director
Company registration number: 08687146
Track-Enduro Limited
Notes to the Financial Statements
Year ended 29 September 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Jamjar Investments Phoenix Brewery, Bramley Road, London, W10 6SZ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year, including directors, was 1 (2022: 1)
5. Tangible assets
Plant and machinery
£
Cost
At 30 September 2022 and 29 September 2023
130,552
---------
Depreciation
At 30 September 2022
116,236
Charge for the year
12,444
---------
At 29 September 2023
128,680
---------
Carrying amount
At 29 September 2023
1,872
---------
At 29 September 2022
14,316
---------
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
8,021
Other debtors
110,517
1,961
---------
-------
110,517
9,982
---------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,030
Other creditors
343,570
342,420
---------
---------
346,600
342,420
---------
---------
8. Director's advances, credits and guarantees
9. Related party transactions
At the year end, the company was owed £100,000 (2022: £nil) from Racing Experience Limited (11602047), a company associated by common control. At the year end, the company owed the director £342,568 (2022: £337,568).