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REGISTERED NUMBER: 09223235 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

D & G MOTORSPORT LIMITED

D & G MOTORSPORT LIMITED (REGISTERED NUMBER: 09223235)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


D & G MOTORSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: Mr D G Harding





REGISTERED OFFICE: c/o AKS Advisers
Fourth & Fifth Floor
14-15 Lower Grosvenor Place
London
SW1W 0EX





REGISTERED NUMBER: 09223235 (England and Wales)





ACCOUNTANTS: AKS Advisers
Fourth & Fifth Floors
14-15 Lower Grosvenor Place
London
SW1W 0EX

D & G MOTORSPORT LIMITED (REGISTERED NUMBER: 09223235)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £   
CURRENT ASSETS
Debtors 4 169,349 183,088
Cash at bank and in hand 12,022 100
181,371 183,188
CREDITORS
Amounts falling due within one year 5 127,760 156,265
NET CURRENT ASSETS 53,611 26,923
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,611

26,923

CREDITORS
Amounts falling due after more than one
year

6

26,660

-
NET ASSETS 26,951 26,923

CAPITAL AND RESERVES
Called up share capital 1 100
Retained earnings 26,950 26,823
SHAREHOLDERS' FUNDS 26,951 26,923

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 August 2024 and were signed by:



Mr D G Harding - Director


D & G MOTORSPORT LIMITED (REGISTERED NUMBER: 09223235)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

D & G Motorsport 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.

Going concern

The company has reasonable cash balances and in addition the company has reported net current assets for the year ended 30 September 2023 amounting to £26,951 (2022: £26,923)

At the time of approving the financial statements, the directors are confident in the resilience of the business and its financial security, supported by a robust cash position, and believe that the company is well placed to manage its business risks successfully and has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Financial instruments
a) Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank and in hand
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

d) Interest income
Interest income is recognised in profit or loss using the effective interest method.


D & G MOTORSPORT LIMITED (REGISTERED NUMBER: 09223235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Amounts owed by group undertakings 169,349 183,088

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 5,581 36,556
Trade creditors 270 -
Amounts owed to group undertakings 110,284 108,994
Taxation and social security 7,875 8,215
Other creditors 3,750 2,500
127,760 156,265

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 26,660 -

7. ULTIMATE CONTROLLING PARTY

The director is the ultimate controlling party of the company.