Company Registration No. 14242906 (England and Wales)
NT Racing Ltd
Unaudited accounts
for the year ended 30 June 2024
NT Racing Ltd
Unaudited accounts
Contents
NT Racing Ltd
Company Information
for the year ended 30 June 2024
Directors
Damian Evans
Lisa Evans
Company Number
14242906 (England and Wales)
Registered Office
Villa House
7 Herbert Terrace
Penarth
CF64 2AH
Accountants
Evans Entwistle
Villa House
7 Herbert Terrace
Penarth
Vale of Glamorgan
CF64 2AH
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
NT Racing Ltd
for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NT Racing Ltd for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Villa House
7 Herbert Terrace
Penarth
Vale of Glamorgan
CF64 2AH
6 August 2024
NT Racing Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
3,223
6,439
Cash at bank and in hand
49
334
Creditors: amounts falling due within one year
(10,997)
(1,291)
Net current liabilities
(8,848)
(545)
Total assets less current liabilities
(5,625)
5,894
Creditors: amounts falling due after more than one year
(10,000)
(5,000)
Provisions for liabilities
Net liabilities
(16,237)
(329)
Called up share capital
12
12
Profit and loss account
(16,249)
(341)
Shareholders' funds
(16,237)
(329)
For the year ending 30 June 2024 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 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 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 of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by
Damian Evans
Director
Company Registration No. 14242906
NT Racing Ltd
Notes to the Accounts
for the year ended 30 June 2024
NT Racing Ltd is a private company, limited by shares, registered in England and Wales, registration number 14242906. The registered office is Villa House, 7 Herbert Terrace, Penarth, CF64 2AH.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor vehicles
3 years straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
NT Racing Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Motor vehicles
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
10,997
1,291
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
10,000
5,000
8
Deferred taxation
2024
2023
Accelerated capital allowances
612
1,223
Provision at start of year
1,223
-
(Credited)/charged to the profit and loss account
(611)
1,223
Provision at end of year
612
1,223
NT Racing Ltd
Notes to the Accounts
for the year ended 30 June 2024
Allotted, called up and fully paid:
12 Ordinary shares of £1 each
12
12
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).