IRIS Accounts Production v24.2.0.383 11461811 Board of Directors 1.1.23 31.12.23 31.12.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114618112022-12-31114618112023-12-31114618112023-01-012023-12-31114618112021-12-31114618112022-01-012022-12-31114618112022-12-3111461811ns15:EnglandWales2023-01-012023-12-3111461811ns14:PoundSterling2023-01-012023-12-3111461811ns10:Director12023-01-012023-12-3111461811ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111461811ns10:SmallEntities2023-01-012023-12-3111461811ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3111461811ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111461811ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111461811ns10:FullAccounts2023-01-012023-12-3111461811ns10:Director22023-01-012023-12-3111461811ns10:RegisteredOffice2023-01-012023-12-3111461811ns5:CurrentFinancialInstruments2023-12-3111461811ns5:CurrentFinancialInstruments2022-12-3111461811ns5:Non-currentFinancialInstruments2023-12-3111461811ns5:Non-currentFinancialInstruments2022-12-3111461811ns5:ShareCapital2023-12-3111461811ns5:ShareCapital2022-12-3111461811ns5:RetainedEarningsAccumulatedLosses2023-12-3111461811ns5:RetainedEarningsAccumulatedLosses2022-12-3111461811ns5:PlantMachinery2023-01-012023-12-3111461811ns5:MotorVehicles2023-01-012023-12-3111461811ns5:PlantMachinery2022-12-3111461811ns5:MotorVehicles2022-12-3111461811ns5:PlantMachinery2023-12-3111461811ns5:MotorVehicles2023-12-3111461811ns5:PlantMachinery2022-12-3111461811ns5:MotorVehicles2022-12-3111461811ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3111461811ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 11461811 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KTJ RACING LIMITED

KTJ RACING LIMITED (REGISTERED NUMBER: 11461811)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KTJ RACING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P A Jewiss
K T Jewiss





REGISTERED OFFICE: 2nd Floor, 55 Ludgate Hill
London
United Kingdom
EC4M 7JW





REGISTERED NUMBER: 11461811 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

KTJ RACING LIMITED (REGISTERED NUMBER: 11461811)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 16,668 30,409

CURRENT ASSETS
Debtors 5 9,801 9,874
Cash at bank 2,492 15,347
12,293 25,221
CREDITORS
Amounts falling due within one year 6 301,504 316,883
NET CURRENT LIABILITIES (289,211 ) (291,662 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(272,543

)

(261,253

)

CREDITORS
Amounts falling due after more than
one year

7

-

2,460
NET LIABILITIES (272,543 ) (263,713 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (272,545 ) (263,715 )
(272,543 ) (263,713 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

KTJ RACING LIMITED (REGISTERED NUMBER: 11461811)

BALANCE SHEET - continued
31 DECEMBER 2023


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 10 September 2024 and were signed on its behalf by:





P A Jewiss - Director


KTJ RACING LIMITED (REGISTERED NUMBER: 11461811)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

KTJ Racing 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.

The directors consider that in preparing the financial statements they have taken into account all information available, and on this basis the financial statements are prepared on a going concern basis.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 20% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

KTJ RACING LIMITED (REGISTERED NUMBER: 11461811)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 10,167 56,000 66,167
DEPRECIATION
At 1 January 2023 4,025 31,733 35,758
Charge for year 2,541 11,200 13,741
At 31 December 2023 6,566 42,933 49,499
NET BOOK VALUE
At 31 December 2023 3,601 13,067 16,668
At 31 December 2022 6,142 24,267 30,409

Included within Fixed Assets are assets which are held under hire purchase agreements with a net book value totalling £13,067 (2022 - £24,267).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,349 9,370
Other debtors 452 504
9,801 9,874

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 6,375 13,846
Trade creditors 34,014 71,171
Other creditors 261,115 231,866
301,504 316,883

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 2,460