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REGISTERED NUMBER: 05075681 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SPEED 9861 LIMITED

SPEED 9861 LIMITED (REGISTERED NUMBER: 05075681)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPEED 9861 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M R Laverack
S M Laverack
N R Laverack
S R Laverack





SECRETARY: M R Laverack





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 05075681 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

SPEED 9861 LIMITED (REGISTERED NUMBER: 05075681)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,378,512 3,130,000

CURRENT ASSETS
Debtors 5 5,163 27,777
Cash at bank and in hand 375,566 784,703
380,729 812,480
CREDITORS
Amounts falling due within one year 6 1,597,961 1,837,819
NET CURRENT LIABILITIES (1,217,232 ) (1,025,339 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,161,280

2,104,661

PROVISIONS FOR LIABILITIES 16,003 16,003
NET ASSETS 2,145,277 2,088,658

CAPITAL AND RESERVES
Called up share capital 7 100 100
Non distributable reserve 222,193 222,193
Retained earnings 1,922,984 1,866,365
SHAREHOLDERS' FUNDS 2,145,277 2,088,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

SPEED 9861 LIMITED (REGISTERED NUMBER: 05075681)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





M R Laverack - Director


SPEED 9861 LIMITED (REGISTERED NUMBER: 05075681)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Speed 9861 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable and is shown net of VAT and other taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,130,000
Additions 248,512
At 31 March 2024 3,378,512
NET BOOK VALUE
At 31 March 2024 3,378,512
At 31 March 2023 3,130,000

SPEED 9861 LIMITED (REGISTERED NUMBER: 05075681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2018 56,174
Valuation in 2019 115,376
Valuation in 2021 66,647
Cost 3,140,315
3,378,512

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 3,140,315 2,891,803

Investment properties were valued on a fair value basis on 31 March 2024 by the directors .

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Other debtors 312 22,926

Amounts falling due after more than one year:
Other debtors 4,851 4,851

Aggregate amounts 5,163 27,777

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 17,060 18,252
Other creditors 1,580,901 1,819,567
1,597,961 1,837,819

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100