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REGISTERED NUMBER: 07300882 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 November 2023

for

The Under 17 Car Club Limited

The Under 17 Car Club Limited (Registered number: 07300882)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Under 17 Car Club Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: P R Silverwood
P A Hagen
D J Kettlewell





SECRETARY: A M Charsley





REGISTERED OFFICE: Cliffe Hill House
22-26 Nottingham Road
Stapleford
Nottingham
NG9 8AA





REGISTERED NUMBER: 07300882 (England and Wales)





ACCOUNTANTS: Haines Watts
Cliffe Hill House
22-26 Nottingham Road
Stapleford
Nottingham
NG9 8AA

The Under 17 Car Club Limited (Registered number: 07300882)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,535 3,140

CURRENT ASSETS
Stocks 100 100
Debtors 5 2,718 2,718
Cash at bank 55,813 53,304
58,631 56,122
CREDITORS
Amounts falling due within one year 6 4,320 4,381
NET CURRENT ASSETS 54,311 51,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,846

54,881

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 29,267 29,267
Retained earnings 26,479 25,514
SHAREHOLDERS' FUNDS 55,846 54,881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:




P A Hagen - Director


The Under 17 Car Club Limited (Registered number: 07300882)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

The Under 17 Car Club 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.

Turnover
Turnover represents invoiced subscriptions and activity events.

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 etc - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Gift aid payments to under 17 car club charitable trust
The accounting treatment for dealing with the transfer of gifts/donations to the holding charity has been amended in line with the accounting requirements of FRS 102.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

The Under 17 Car Club Limited (Registered number: 07300882)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 34,494
DEPRECIATION
At 1 December 2022 31,354
Charge for year 1,605
At 30 November 2023 32,959
NET BOOK VALUE
At 30 November 2023 1,535
At 30 November 2022 3,140

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 2,718 2,718

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors - 1,441
Other creditors 4,320 2,940
4,320 4,381

7. SHARE PREMIUM ACCOUNT

On the 13th April 2012 the assets of the Under 17 Car Club ( a not for profit club) were gifted to The Under 17 Car Club Limited the value of the cash and stock at transfer amounted to £99,267 to the company at that date and The Under 17 Car Club ceased to trade.

In 2021 an amount of £40,000 (£30,000 2020) essentially from the original asset transfer this year was moved to the Under 17 Car Club Charitable Trust who fully own the share capital of this company.

8. ULTIMATE PARENT COMPANY

The Under 17 Car Club Charitable Trust (incorporated in England and Wales) is regarded by the directors as being the company's ultimate parent company.

The holding company has taken advantage of the exemption provided within the Companies Act 2011 not to prepare group accounts on the basis that it is a small group.