REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2023 TO 31 JULY 2024 |
FOR |
STARTRAX OVAL MOTORSPORT LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2023 TO 31 JULY 2024 |
FOR |
STARTRAX OVAL MOTORSPORT LIMITED |
STARTRAX OVAL MOTORSPORT LIMITED (REGISTERED NUMBER: 06017587) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2023 TO 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
STARTRAX OVAL MOTORSPORT LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 MARCH 2023 TO 31 JULY 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Bates Mill |
Colne Road |
Huddersfield |
HD1 3AG |
STARTRAX OVAL MOTORSPORT LIMITED (REGISTERED NUMBER: 06017587) |
BALANCE SHEET |
31 JULY 2024 |
31.7.24 | 28.2.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
STARTRAX OVAL MOTORSPORT LIMITED (REGISTERED NUMBER: 06017587) |
BALANCE SHEET - continued |
31 JULY 2024 |
The financial statements were approved by the director and authorised for issue on |
STARTRAX OVAL MOTORSPORT LIMITED (REGISTERED NUMBER: 06017587) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2023 TO 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Startrax Oval Motorsport Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has now ceased its trading activities and the director's intention is to pay all remaining creditors and liquidate the company as soon as possible. For this reason the accounting reference date has been changed to 31 July and these accounts cover a 17 month period to that date. The amounts are not directly comparable to those of the prior period. |
Financial instruments |
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments. |
Short term debtors are measured at transaction price, less any impairment. |
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and subsequently at amortised cost using the effective interest method. |
Taxation |
Taxation for the period 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2023 - |
STARTRAX OVAL MOTORSPORT LIMITED (REGISTERED NUMBER: 06017587) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MARCH 2023 TO 31 JULY 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 28.2.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 28.2.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.24 | 28.2.23 |
£ | £ |
Bank loans |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 28.2.23 |
value: | £ | £ |
Ordinary | £1 |
9. | RELATED PARTY DISCLOSURES |
31.07.24 | 28.02.23 |
£ | £ |
Amounts due to related parties |