Caseware UK (AP4) 2023.0.135 2023.0.135 22022-09-01falseThe principal activity of the company in the year under review was the supply of leisure services.1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02612322 2022-09-01 2023-08-31 02612322 2021-09-01 2022-08-31 02612322 2023-08-31 02612322 2022-08-31 02612322 c:Director3 2022-09-01 2023-08-31 02612322 d:OfficeEquipment 2022-09-01 2023-08-31 02612322 d:OfficeEquipment 2023-08-31 02612322 d:OfficeEquipment 2022-08-31 02612322 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 02612322 d:CurrentFinancialInstruments 2023-08-31 02612322 d:CurrentFinancialInstruments 2022-08-31 02612322 d:Non-currentFinancialInstruments 2023-08-31 02612322 d:Non-currentFinancialInstruments 2022-08-31 02612322 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 02612322 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 02612322 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 02612322 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 02612322 d:ShareCapital 2023-08-31 02612322 d:ShareCapital 2022-08-31 02612322 d:RetainedEarningsAccumulatedLosses 2023-08-31 02612322 d:RetainedEarningsAccumulatedLosses 2022-08-31 02612322 c:OrdinaryShareClass1 2022-09-01 2023-08-31 02612322 c:OrdinaryShareClass1 2023-08-31 02612322 c:OrdinaryShareClass1 2022-08-31 02612322 c:FRS102 2022-09-01 2023-08-31 02612322 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 02612322 c:FullAccounts 2022-09-01 2023-08-31 02612322 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 02612322 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02612322










Super Prix Karting Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 August 2023

 
Super Prix Karting Limited
Registered number: 02612322

Balance sheet
As at 31 August 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
597
1,776

  
597
1,776

Current assets
  

Debtors: amounts falling due within one year
 5 
997
619

Cash at bank and in hand
 6 
14,503
31,474

  
15,500
32,093

Creditors: amounts falling due within one year
 7 
(12,061)
(14,406)

Net current assets
  
 
 
3,439
 
 
17,687

Total assets less current liabilities
  
4,036
19,463

Creditors: amounts falling due after more than one year
 8 
(17,500)
(27,500)

  

Net liabilities
  
(13,464)
(8,037)


Capital and reserves
  

Called up share capital 
 9 
4
4

Profit and loss account
  
(13,468)
(8,041)

  
(13,464)
(8,037)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Mr J B Sheppard
Director
Date: 26 August 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
Super Prix Karting Limited
 

 
Notes to the financial statements
For the Year Ended 31 August 2023

1.


General information

Super Prix Karting Limited is a private company, limited by shares and incorporated in England and Wales, registration number 02612322. The registered office address is Springfield House, Springfield Road, Horsham, West Sussex, England, RH12 2RG. The trading address is 1 Adderley Road South, Birmingham, B8 1AD.
The principal activity of the company in the year under review was the supply of leisure services.
The financial statements are presented in sterling and rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company’s ability to trade is dependent on the support of the director and loans to the company. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current assets.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

 
Super Prix Karting Limited
 

 
Notes to the financial statements
For the Year Ended 31 August 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

  
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Karting equipment including office equipment and P&M
-
Karting equipment over 6 years and all other assets 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
Super Prix Karting Limited
 

 
Notes to the financial statements
For the Year Ended 31 August 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 2).

Page 4

 
Super Prix Karting Limited
 

 
Notes to the financial statements
For the Year Ended 31 August 2023

4.


Tangible fixed assets





Karting equipment

£



Cost or valuation


At 1 September 2022
63,184


Disposals
(931)



At 31 August 2023

62,253



Depreciation


At 1 September 2022
61,408


Charge for the year on owned assets
1,026


Disposals
(778)



At 31 August 2023

61,656



Net book value



At 31 August 2023
597



At 31 August 2022
1,776


5.


Debtors

2023
2022
£
£


Other debtors
997
619

997
619



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
14,503
31,474

14,503
31,474


Page 5

 
Super Prix Karting Limited
 

 
Notes to the financial statements
For the Year Ended 31 August 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Corporation tax
-
1,906

Other taxation and social security
61
-

Accruals and deferred income
2,000
2,500

12,061
14,406



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
17,500
27,500

17,500
27,500



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



40 (2022 - 40) Ordinary shares of £0.10 each
4
4



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £Nil (2022 - £255). The amount owed at the year end totalled £Nil (2022 - £Nil).


Page 6