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West Wales Karting Ltd
Registered Number:05955608
For the year ended 30 November 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 30 November 2023
West Wales Karting Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
05955608
As at 30 November 2023
West Wales Karting Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Intangible assets
-
4,000
2
Property, plant and equipment
92,900
105,135
3
92,900
109,135
Current assets
Inventories
4,450
6,520
4
Trade and other receivables
19,895
3,569
5
289
Cash and cash equivalents
493
10,582
24,634
Trade and other payables: amounts falling due within one
year
(116,516)
(138,366)
6
(91,882)
(127,784)
Net current liabilities
Total assets less current liabilities
(34,884)
17,253
Trade and other payables: amounts falling due after more
than one year
(40,329)
(39,853)
7
(83,720)
(65,000)
Provisions for liabilities
(158,457)
Net liabilities
(88,076)
Capital and reserves
Called up share capital
4
4
Share premium account
47,996
47,996
Retained earnings
(206,457)
(136,076)
(158,457)
(88,076)
Shareholders' funds
For the year ended 30 November 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
05955608
For the year ended 30 November 2023
West Wales Karting Ltd
Statement of Financial Position Continued
Mr D M Francis Director
These financial statements were approved and authorised for issue by the Board on 29 August 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 30 November 2023
West Wales Karting Ltd
Notes to the Financial Statements
Statutory Information
West Wales Karting Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 05955608.
Registered address:
Prendergast Building
County Showground
Haverfordwest
Pembrokeshire
SA62 4BW
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15 Reducing balance
15 Reducing balance
Computer equipment
10 Straight line
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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6
For the year ended 30 November 2023
West Wales Karting Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 December 2022
40,000
At 30 November 2023
40,000
Amortisation
At 01 December 2022
36,000
4,000
Charge for year
At 30 November 2023
40,000
Net book value
At 30 November 2023
-
At 30 November 2022
4,000
3. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 December 2022
184,747
8,202
43,194
133,351
4,160
-
-
4,160
Additions
At 30 November 2023
137,511
43,194
8,202
188,907
Provision for depreciation and impairment
At 01 December 2022
79,612
1,230
15,188
63,194
Charge for year
16,395
1,046
4,201
11,148
At 30 November 2023
96,007
2,276
19,389
74,342
At 30 November 2023
Net book value
63,169
23,805
5,926
92,900
At 30 November 2022
70,157
28,006
6,972
105,135
4. Inventories
2022
2023
£
£
Stocks
6,520
4,450
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7
For the year ended 30 November 2023
West Wales Karting Ltd
Notes to the Financial Statements Continued
5. Trade and other receivables
2022
2023
£
£
Other debtors
3,569
19,895
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
88,861
107,046
Trade creditors
1,300
1,298
Taxation and social security
17,952
8,172
Other creditors
30,253
-
138,366
116,516
7. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
39,853
40,329
8. Average number of persons employed
During the year the average number of employees was 8 (2022 : 8)
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