REGISTERED NUMBER: |
THE PISTON CLUB LIMITED |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
REGISTERED NUMBER: |
THE PISTON CLUB LIMITED |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
THE PISTON CLUB LIMITED (REGISTERED NUMBER: 13763507) |
Contents of the Financial Statements |
for the year ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 5 |
THE PISTON CLUB LIMITED |
Company Information |
for the year ended 30 November 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
CUBO Birmingham |
3rd Floor |
Two Chamberlain Square |
Birmingham |
West Midlands |
B3 3AX |
THE PISTON CLUB LIMITED (REGISTERED NUMBER: 13763507) |
Balance Sheet |
30 November 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
THE PISTON CLUB LIMITED (REGISTERED NUMBER: 13763507) |
Balance Sheet - continued |
30 November 2023 |
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 were approved by the director and authorised for issue on |
THE PISTON CLUB LIMITED (REGISTERED NUMBER: 13763507) |
Notes to the Financial Statements |
for the year ended 30 November 2023 |
1. | Statutory information |
The Piston Club Limited ("the company") is a private company, limited by shares, registered in England and Wales. The address of its registered office is Automotive Brands Building, Old Concrete Works, Bretforton Road, Weston Subedge, Evesham, Worcestershire, England, WR11 7QA. |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
Despite suffering losses in the current year, the entity continues to trade with the continued support of the director. Therefore the director considers that the financial statemetns should be prepared on a going concern basis. |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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 the 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. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks, other third parties and loans with related parties. |
All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised costs. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
THE PISTON CLUB LIMITED (REGISTERED NUMBER: 13763507) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
2. | Accounting policies - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease. |
Pensions |
The company contributes to defined contribution pension plans for its employees. A defined contribution pension plan is a plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligations. |
The contributions are recognised as an expense in the Income Statement 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 indepedently administered funds. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
Cost |
Additions |
At 30 November 2023 |
Depreciation |
Charge for year |
At 30 November 2023 |
Net book value |
At 30 November 2023 |
5. | Stocks |
2023 | 2022 |
£ | £ |
Goods for resale |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |