Registered Number:07825416 |
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2024
Williams Racing Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Williams Racing Ltd
Statement of Financial Position
2023
2024
Property, plant and equipment |
8,583
8,583
2
8,583
8,583
13,250
8,000
3
Trade and other receivables |
2,361
5,722
4
13,722
15,611
Trade and other payables: amounts falling due within one |
year |
(12,365)
(12,381)
5
3,246
1,341
Net current assets
Total assets less current liabilities |
9,924
11,829
Trade and other payables: amounts falling due after more |
than one year |
(9,330)
(7,573)
6
(1,631)
(1,631)
Provisions for liabilities |
720
Net assets
868
100
100
620
768
720
868
Shareholders' funds
For the year ended 31 March 2024 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 31 March 2024 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. |
These financial statements were approved and authorised for issue by the Board on 05 September 2024 and were signed by: |
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For the year ended 31 March 2024
Williams Racing Ltd
Statement of Financial Position Continued
The notes form part of these financial statements |
2 of 4
For the year ended 31 March 2024
Williams Racing Ltd
Notes to the Financial Statements
Statutory Information
Williams Racing Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 07825416. |
2 Grosvenor Houses
Pentre Halkyn
Holywell
Flintshire
CH8 8HJ
The presentation currency is £ sterling. |
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. |
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. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
2. Property, plant and equipment |
Motor vehicles
8,583
2,085
6,498
6,498
2,085
8,583
6,498
2,085
8,583
6,498
2,085
8,583
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For the year ended 31 March 2024
Williams Racing Ltd
Notes to the Financial Statements Continued
2023
2024
8,000
13,250
4. Trade and other receivables |
2023
2024
Amounts owed by group undertakings and participating interests |
5,722
-
Amounts owed by directors |
-
2,361
2,361
5,722
5. Trade and other payables: amounts falling due within one year |
2023
2024
Bank loans and overdraft (secured) |
3,553
4,056
2,391
2,544
Taxation and social security |
5,057
4,242
1,380
1,523
12,381
12,365
6. Trade and other payables: amounts falling due after more than one year |
2023
2024
7,570
9,330
-
3
7,573
9,330
7. Average number of persons employed |
During the year the average number of employees was 1 (2023 : 1)
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