2023-04-01 07825416 2024-03-31 07825416 2023-04-01 2024-03-31 07825416 2023-03-31 07825416 2022-04-01 2023-03-31 07825416 uk-core:WithinOneYear 2023-03-31 07825416 uk-core:WithinOneYear 2024-03-31 07825416 uk-core:AfterOneYear 2023-03-31 07825416 uk-core:AfterOneYear 2024-03-31 07825416 uk-core:ShareCapital 2024-03-31 07825416 uk-core:ShareCapital 2023-03-31 07825416 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 07825416 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 07825416 uk-bus:Director1 2023-04-01 2024-03-31 07825416 uk-core:Vehicles 2023-03-31 07825416 uk-core:PlantMachinery 2023-03-31 07825416 uk-core:PlantMachinery 2024-03-31 07825416 uk-core:Vehicles 2024-03-31 07825416 uk-core:WithinOneYear uk-core:Secured 2024-03-31 07825416 uk-core:WithinOneYear uk-core:Secured 2023-03-31 07825416 uk-core:WithinOneYear 2024-03-31 07825416 uk-core:WithinOneYear 2023-03-31 07825416 uk-core:AfterOneYear uk-core:Secured 2024-03-31 07825416 uk-core:AfterOneYear uk-core:Secured 2023-03-31 iso4217:GBP xbrli:pure 07825416 uk-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07825416 uk-bus:FRS102 2023-04-01 2024-03-31 07825416 uk-bus:FilletedAccounts 2023-04-01 2024-03-31 07825416 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
Williams Racing Ltd
Registered Number:07825416
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
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
3
Registered Number :
07825416
As at 31 March 2024
Williams Racing Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
8,583
8,583
2
8,583
8,583
Current assets
Inventories
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
Capital and reserves
Called up share capital
100
100
Retained earnings
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.
Mr A Williams Director
These financial statements were approved and authorised for issue by the Board on 05 September 2024 and were signed by:
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4
Registered Number :
07825416
For the year ended 31 March 2024
Williams Racing Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
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5
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.
Registered address:
2 Grosvenor Houses
Pentre Halkyn
Holywell
Flintshire
CH8 8HJ
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.
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
Total
Motor vehicles
Plant and
machinery
£
£
£
Cost or
valuation
At 01 April 2023
8,583
2,085
6,498
At 31 March 2024
6,498
2,085
8,583
At 31 March 2024
Net book value
6,498
2,085
8,583
At 31 March 2023
6,498
2,085
8,583
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6
For the year ended 31 March 2024
Williams Racing Ltd
Notes to the Financial Statements Continued
3. Inventories
2023
2024
£
£
Stocks
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
Bank loans and overdraft
2,391
2,544
Taxation and social security
5,057
4,242
Other creditors
1,380
1,523
12,381
12,365
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
7,570
9,330
-
3
Directors' loan accounts
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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