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REGISTERED NUMBER: 05156962 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Imperial 66 Racing Limited

Imperial 66 Racing Limited (Registered number: 05156962)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Imperial 66 Racing Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mrs C A Sharp
Mr D Sharp





REGISTERED OFFICE: 3 Berrymoor Court
Northumberland Business Park
Cramlington
Northumberland
NE23 7RZ





REGISTERED NUMBER: 05156962 (England and Wales)





ACCOUNTANTS: AWS Accountancy Limited
3 Berrymoor Court
Northumberland Business Park
Cramlington
Northumberland
NE23 7RZ

Imperial 66 Racing Limited (Registered number: 05156962)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 15,826 19,896
15,826 19,896

CURRENT ASSETS
Stocks 6 745 699
Debtors 7 4,583 1,450
Cash at bank and in hand 22,807 27,107
28,135 29,256
CREDITORS
Amounts falling due within one year 8 19,663 21,051
NET CURRENT ASSETS 8,472 8,205
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,298

28,101

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 24,198 28,001
SHAREHOLDERS' FUNDS 24,298 28,101

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

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

Imperial 66 Racing Limited (Registered number: 05156962)

Balance Sheet - continued
31 July 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 19 September 2024 and were signed on its behalf by:





Mrs C A Sharp - Director


Imperial 66 Racing Limited (Registered number: 05156962)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Imperial 66 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current 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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Imperial 66 Racing Limited (Registered number: 05156962)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 August 2023
and 31 July 2024 1,150
AMORTISATION
At 1 August 2023
and 31 July 2024 1,150
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 August 2023 6,819 2,000 24,841 4,574 38,234
Additions - - - 548 548
Disposals - - - (583 ) (583 )
At 31 July 2024 6,819 2,000 24,841 4,539 38,199
DEPRECIATION
At 1 August 2023 3,283 1,105 10,145 3,805 18,338
Charge for year 530 134 3,674 182 4,520
Eliminated on disposal - - - (485 ) (485 )
At 31 July 2024 3,813 1,239 13,819 3,502 22,373
NET BOOK VALUE
At 31 July 2024 3,006 761 11,022 1,037 15,826
At 31 July 2023 3,536 895 14,696 769 19,896

6. STOCKS
31.7.24 31.7.23
£ £
Stocks 745 699

Imperial 66 Racing Limited (Registered number: 05156962)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Trade debtors 2,614 523
Other debtors - 323
Prepayments 1,969 604
4,583 1,450

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Trade creditors 155 2,239
Tax 7,436 8,420
Social security and other taxes 718 636
VAT 7,899 5,858
Other creditors 133 91
Directors' loan accounts 2,822 3,307
Accrued expenses 500 500
19,663 21,051

Imperial 66 Racing Limited

Report of the Accountants to the Directors of
Imperial 66 Racing Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2024 set out on pages one to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






AWS Accountancy Limited
3 Berrymoor Court
Northumberland Business Park
Cramlington
Northumberland
NE23 7RZ


19 September 2024