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REGISTERED NUMBER: 01261977 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SOUTHERN AUTOSPORT ASSOCIATION LIMITED

SOUTHERN AUTOSPORT ASSOCIATION LIMITED (REGISTERED NUMBER: 01261977)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

SOUTHERN AUTOSPORT ASSOCIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M J Worrell
D A Mellish
P A Mellish
C Jewer
D W Chambers
J Johnsey
D Powell





SECRETARY:





REGISTERED OFFICE: 148 Commercial Road
Totton
Southampton
Hampshire
SO40 3AA





REGISTERED NUMBER: 01261977 (England and Wales)





ACCOUNTANTS: R A Vowles & Co
Chartered Accountants
148 Commercial Road
Totton
Southampton
Hampshire
S040 3AA

SOUTHERN AUTOSPORT ASSOCIATION LIMITED (REGISTERED NUMBER: 01261977)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,128 1,327

CURRENT ASSETS
Cash at bank and in hand 24,688 24,709

CREDITORS
Amounts falling due within one year 5 150 151
NET CURRENT ASSETS 24,538 24,558
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,666

25,885

RESERVES
Retained earnings 6 25,666 25,885
25,666 25,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:





C Jewer - Director


SOUTHERN AUTOSPORT ASSOCIATION LIMITED (REGISTERED NUMBER: 01261977)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Southern Autosport Association 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 15% on reducing balance

Items of property, plant and equipment are stated at cost of acquisition less accumulated depreciation.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 66,832 297 67,129
DEPRECIATION
At 1 January 2023 65,577 225 65,802
Charge for year 188 11 199
At 31 December 2023 65,765 236 66,001
NET BOOK VALUE
At 31 December 2023 1,067 61 1,128
At 31 December 2022 1,255 72 1,327

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 150 151

SOUTHERN AUTOSPORT ASSOCIATION LIMITED (REGISTERED NUMBER: 01261977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. RESERVES
Retained
earnings
£   

At 1 January 2023 25,885
Deficit for the year (219 )
At 31 December 2023 25,666

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SOUTHERN AUTOSPORT ASSOCIATION LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southern Autosport Association Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Southern Autosport Association Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Southern Autosport Association Limited and state those matters that we have agreed to state to the Board of Directors of Southern Autosport Association Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southern Autosport Association Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Southern Autosport Association Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Southern Autosport Association Limited. You consider that Southern Autosport Association Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Southern Autosport Association Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






R A Vowles & Co
Chartered Accountants
148 Commercial Road
Totton
Southampton
Hampshire
S040 3AA


30 April 2024