NORTHERN RACE & DRIFT CIC

Company limited by guarantee

Company Registration Number:
10447903 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

NORTHERN RACE & DRIFT CIC

Contents of the Financial Statements

for the Period Ended 31 October 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

NORTHERN RACE & DRIFT CIC

Directors' report period ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Principal activities of the company

The company's principal activity during the year continued to be the provision of model car racetrack facilities.



Directors

The director shown below has held office during the whole of the period from
1 November 2022 to 31 October 2023

Daniel Adam Harrison


Secretary Mishka Bradfield

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
27 July 2024

And signed on behalf of the board by:
Name: Daniel Adam Harrison
Status: Director

NORTHERN RACE & DRIFT CIC

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 29,900 14,990
Gross profit(or loss): 29,900 14,990
Administrative expenses: ( 28,872 ) ( 21,968 )
Operating profit(or loss): 1,028 (6,978)
Profit(or loss) before tax: 1,028 (6,978)
Profit(or loss) for the financial year: 1,028 (6,978)

NORTHERN RACE & DRIFT CIC

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 2,294 2,233
Total current assets: 2,294 2,233
Creditors: amounts falling due within one year: 3 ( 8,396 ) ( 9,363 )
Net current assets (liabilities): (6,102) (7,130)
Total assets less current liabilities: (6,102) ( 7,130)
Total net assets (liabilities): (6,102) (7,130)
Members' funds
Profit and loss account: (6,102) ( 7,130)
Total members' funds: ( 6,102) (7,130)

The notes form part of these financial statements

NORTHERN RACE & DRIFT CIC

Balance sheet statements

For the year ending 31 October 2023 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 applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 27 July 2024
and signed on behalf of the board by:

Name: Daniel Adam Harrison
Status: Director

The notes form part of these financial statements

NORTHERN RACE & DRIFT CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discountsand value added taxes. Turnover includes revenue earned from the sale of goods and from therendering of services. Turnover from the sale of goods is recognised when the significant risksand rewards of ownership of the goods have transferred to the buyer. Turnover from the renderingof services is recognised by reference to the stage of completion of the contract. The stage ofcompletion of a contract is measured by comparing the costs incurred for work performed to dateto the total estimated contract costs.

NORTHERN RACE & DRIFT CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

NORTHERN RACE & DRIFT CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 29 29
Other creditors 8,367 9,334
Total 8,396 9,363

COMMUNITY INTEREST ANNUAL REPORT

NORTHERN RACE & DRIFT CIC

Company Number: 10447903 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

Northern race & drift is open to all the local community and surrounding areas, we also have people traveling from abroad and around country to visit the venue, during the last year we have held men’s mental health evenings and workshops on how to build radio controlled cars properly and how to drift for beginners, we have also held in house competitions all this benefits the younger generation and new drifters as to help them be in control better and take part in groups and learn how to socialise as we have a lot of people with disabilities who attend ,all this has helped the local community by bringing trade to the surrounding areas such as:*petrol stations, hotels, local shops, restaurants and fast food places*It helps promotes family and hobby time in a safe environment and adults get to interact with each other.*It helps other children meet new friends with the same hobby.*It keeps children off the streets safe and out of trouble and learning new skills and qualities

Consultation with stakeholders

Northern Race & drift stakeholders are the people who come to the track, they are asked by person or through social media what they would like to be happening if things need changing how they would like the layout of the track, what we can do to improve , we hold social events and, drift events around other drift venues as not to clash with them for better attendance, we provide drifting events on the big screen and always ask if the music is satisfactory, the track has set opening and closing times but we amend these to fit in with the customers who travel or just want extra time at the track.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
28 July 2024

And signed on behalf of the board by:
Name: Daniel Adam Harrison
Status: Director