Registered number
00522348
Mid Cheshire Motor Racing Club Limited
Unaudited Filleted Accounts
31 December 2023
Mid Cheshire Motor Racing Club Limited
Registered number: 00522348
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 111 148
Current assets
Cash at bank and in hand 14,509 14,144
Creditors: amounts falling due within one year 4 (4,292) (4,282)
Net current assets 10,217 9,862
Net assets 10,328 10,010
Capital and reserves
Profit and loss account 10,328 10,010
Shareholder's funds 10,328 10,010
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I C Webster
Director
Approved by the board on 28 August 2024
Mid Cheshire Motor Racing Club Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 577
At 31 December 2023 577
Depreciation
At 1 January 2023 429
Charge for the year 37
At 31 December 2023 466
Net book value
At 31 December 2023 111
At 31 December 2022 148
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 4,292 4,282
5 Other information
Mid Cheshire Motor Racing Club Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
18 Ravenscroft Close
Middlewich
Cheshire
CW10 9PX
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