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REGISTERED NUMBER: 07414276 (England and Wales)

















Road and Racing Performance Limited

Financial Statements

for the Year Ended 30 November 2023






Road and Racing Performance Limited (Registered number: 07414276)

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


Road and Racing Performance Limited

Company Information
for the year ended 30 November 2023







DIRECTOR: A P Cook





SECRETARY: Mrs D A Cook





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 07414276 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Road and Racing Performance Limited (Registered number: 07414276)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,827 16,073

CURRENT ASSETS
Stocks 10,750 10,500
Debtors 5 11,293 12,988
Cash at bank and in hand - 4,792
22,043 28,280
CREDITORS
Amounts falling due within one year 6 50,157 34,875
NET CURRENT LIABILITIES (28,114 ) (6,595 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,713

9,478

CREDITORS
Amounts falling due after more than one
year

7

(6,333

)

(10,333

)

PROVISIONS FOR LIABILITIES (1,337 ) (1,863 )
NET LIABILITIES (4,957 ) (2,718 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (5,057 ) (2,818 )
SHAREHOLDERS' FUNDS (4,957 ) (2,718 )

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 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.

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 director and authorised for issue on 13 August 2024 and were signed by:





A P Cook - Director


Road and Racing Performance Limited (Registered number: 07414276)

Notes to the Financial Statements
for the year ended 30 November 2023


1. STATUTORY INFORMATION

Road and Racing Performance 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

Road and Racing Performance Limited (Registered number: 07414276)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 December 2022 24,102 2,178 17,379 43,659
Additions 8,427 270 13,500 22,197
At 30 November 2023 32,529 2,448 30,879 65,856
DEPRECIATION
At 1 December 2022 12,205 1,520 13,861 27,586
Charge for year 3,049 139 4,255 7,443
At 30 November 2023 15,254 1,659 18,116 35,029
NET BOOK VALUE
At 30 November 2023 17,275 789 12,763 30,827
At 30 November 2022 11,897 658 3,518 16,073

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,293 12,496
Corporation tax recoverable - 492
11,293 12,988

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,622 4,000
Trade creditors 1,548 3,099
Tax and social security costs 4,034 4,343
Directors' current accounts 38,135 20,462
Accruals and deferred income 818 2,971
50,157 34,875

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 6,333 10,333