Acorah Software Products - Accounts Production 15.0.600 false true false 1 December 2021 30 November 2022 30 November 2022 11059409 Mr Neal Foster iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11059409 2021-11-30 11059409 2022-11-30 11059409 2021-12-01 2022-11-30 11059409 frs-core:CurrentFinancialInstruments 2022-11-30 11059409 frs-core:MotorVehicles 2021-12-01 2022-11-30 11059409 frs-core:PlantMachinery 2022-11-30 11059409 frs-core:PlantMachinery 2021-12-01 2022-11-30 11059409 frs-core:PlantMachinery 2021-11-30 11059409 frs-core:ShareCapital 2022-11-30 11059409 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 11059409 frs-bus:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 11059409 frs-bus:FilletedAccounts 2021-12-01 2022-11-30 11059409 frs-bus:SmallEntities 2021-12-01 2022-11-30 11059409 frs-bus:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 11059409 frs-bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 11059409 frs-bus:Director1 2021-12-01 2022-11-30 11059409 frs-countries:EnglandWales 2021-12-01 2022-11-30
Registered number: 11059409
Foz Motorsport Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2022
DENHAMS
Accountancy and Taxation Services
32 Seathwaite Close
West Bridgford
Nottingham
NG2 6SF
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11059409
2022
Notes £ £
FIXED ASSETS
Tangible Assets 4 4,964
4,964
CURRENT ASSETS
Debtors 5 7,625
Cash at bank and in hand 56
7,681
Creditors: Amounts Falling Due Within One Year 6 (25,613 )
NET CURRENT ASSETS (LIABILITIES) (17,932 )
TOTAL ASSETS LESS CURRENT LIABILITIES (12,968 )
NET LIABILITIES (12,968 )
CAPITAL AND RESERVES
Called up share capital 7 1
Profit and Loss Account (12,969 )
SHAREHOLDERS' FUNDS (12,968)
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Neal Foster
Director
03/09/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Foz Motorsport Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11059409 . The registered office is 43 Nearsby Drive, West Bridgford, Nottingham, NG2 6LA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25
Motor Vehicles 33
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1
1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2021 19,153
As at 30 November 2022 19,153
Depreciation
As at 1 December 2021 12,534
Provided during the period 1,655
As at 30 November 2022 14,189
Net Book Value
As at 30 November 2022 4,964
As at 1 December 2021 6,619
Page 2
Page 3
5. Debtors
2022
£
Due within one year
Other debtors 7,625
6. Creditors: Amounts Falling Due Within One Year
2022
£
Bank loans and overdrafts 25,313
Other creditors 300
25,613
7. Share Capital
2022
£
Allotted, Called up and fully paid 1
Page 3