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Company Registration No. 10850598 (England and Wales)
AB RACE CRUISERS LIMITED Unaudited accounts for the year ended 31 July 2023
AB RACE CRUISERS LIMITED Unaudited accounts Contents
Page
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AB RACE CRUISERS LIMITED Company Information for the year ended 31 July 2023
Director
Jonathan Birks
Company Number
10850598 (England and Wales)
Registered Office
SPEEDWELL INDUSTRIAL ESTATE, FAN ROAD STAVELEY CHESTERFIELD DERBYSHIRE S43 3PT UNITED KINGDOM
Accountants
Justin Fowler ASF Accounting Services 96 Norton Park View Sheffield South Yorkshire S8 8GT
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AB RACE CRUISERS LIMITED Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
151,132 
128,964 
Current assets
Inventories
151,704 
204,054 
Debtors
420,077 
44,271 
Cash at bank and in hand
115,626 
398,580 
687,407 
646,905 
Creditors: amounts falling due within one year
(270,423)
(266,294)
Net current assets
416,984 
380,611 
Net assets
568,116 
509,575 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
568,016 
509,475 
Shareholders' funds
568,116 
509,575 
For the year ending 31 July 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 July 2024 and were signed on its behalf by
Jonathan Birks Director Company Registration No. 10850598
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AB RACE CRUISERS LIMITED Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
AB RACE CRUISERS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10850598. The registered office is SPEEDWELL INDUSTRIAL ESTATE, FAN ROAD, STAVELEY, CHESTERFIELD, DERBYSHIRE, S43 3PT, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25%
Plant & machinery
25%
Motor vehicles
25%
Fixtures & fittings
25%
Computer equipment
25%
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 August 2022
277,210 
Additions
52,439 
At 31 July 2023
329,649 
Depreciation
At 1 August 2022
148,246 
Charge for the year
30,271 
At 31 July 2023
178,517 
Net book value
At 31 July 2023
151,132 
At 31 July 2022
128,964 
5
Contingent liabilities
Barclays Bank Plc holds a charge over the assets of the company in respect of a mortgage totalling £250,000 for Mr Jonathan Birks, a director.
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AB RACE CRUISERS LIMITED Notes to the Accounts for the year ended 31 July 2023
6
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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