IRIS Accounts Production v24.1.0.578 07473409 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074734092023-03-31074734092024-03-31074734092023-04-012024-03-31074734092022-03-31074734092022-04-012023-03-31074734092023-03-3107473409ns15:EnglandWales2023-04-012024-03-3107473409ns14:PoundSterling2023-04-012024-03-3107473409ns10:Director12023-04-012024-03-3107473409ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107473409ns10:SmallEntities2023-04-012024-03-3107473409ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107473409ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107473409ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107473409ns10:FullAccounts2023-04-012024-03-3107473409ns10:RegisteredOffice2023-04-012024-03-3107473409ns5:CurrentFinancialInstruments2024-03-3107473409ns5:CurrentFinancialInstruments2023-03-3107473409ns5:Non-currentFinancialInstruments2024-03-3107473409ns5:Non-currentFinancialInstruments2023-03-3107473409ns5:ShareCapital2024-03-3107473409ns5:ShareCapital2023-03-3107473409ns5:RetainedEarningsAccumulatedLosses2024-03-3107473409ns5:RetainedEarningsAccumulatedLosses2023-03-3107473409ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3107473409ns5:PlantMachinery2023-04-012024-03-3107473409ns5:FurnitureFittings2023-04-012024-03-3107473409ns5:MotorVehicles2023-04-012024-03-3107473409ns5:ComputerEquipment2023-04-012024-03-3107473409ns5:LandBuildings2023-03-3107473409ns5:PlantMachinery2023-03-3107473409ns5:FurnitureFittings2023-03-3107473409ns5:LandBuildings2023-04-012024-03-3107473409ns5:LandBuildings2024-03-3107473409ns5:PlantMachinery2024-03-3107473409ns5:FurnitureFittings2024-03-3107473409ns5:LandBuildings2023-03-3107473409ns5:PlantMachinery2023-03-3107473409ns5:FurnitureFittings2023-03-3107473409ns5:MotorVehicles2023-03-3107473409ns5:ComputerEquipment2023-03-3107473409ns5:MotorVehicles2024-03-3107473409ns5:ComputerEquipment2024-03-3107473409ns5:MotorVehicles2023-03-3107473409ns5:ComputerEquipment2023-03-3107473409ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3107473409ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3107473409ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3107473409ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-31
REGISTERED NUMBER: 07473409 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Lydd Karting Limited

Lydd Karting Limited (Registered number: 07473409)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lydd Karting Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J C H Clarke





REGISTERED OFFICE: 5 Dallaway Drive
Stone Cross
Pevensey
East Sussex
BN24 5FB





REGISTERED NUMBER: 07473409 (England and Wales)





ACCOUNTANTS: Ardor Business Solutions Limited
Chartered Certified Accountants
Unit 1
Shrine Barn
Sanding Road
Hythe
Kent
CT21 4HE

Lydd Karting Limited (Registered number: 07473409)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 634,494 589,798

CURRENT ASSETS
Stocks 600 600
Cash at bank and in hand 290,699 235,628
291,299 236,228
CREDITORS
Amounts falling due within one year 6 56,932 45,887
NET CURRENT ASSETS 234,367 190,341
TOTAL ASSETS LESS CURRENT
LIABILITIES

868,861

780,139

CREDITORS
Amounts falling due after more than one
year

7

(13,420

)

(21,580

)

PROVISIONS FOR LIABILITIES (38,075 ) (27,650 )
NET ASSETS 817,366 730,909

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Retained earnings 816,166 729,709
SHAREHOLDERS' FUNDS 817,366 730,909

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

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 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.

Lydd Karting Limited (Registered number: 07473409)

Statement of Financial Position - continued
31 March 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 director and authorised for issue on 8 May 2024 and were signed by:





J C H Clarke - Director


Lydd Karting Limited (Registered number: 07473409)

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

1. STATUTORY INFORMATION

Lydd Karting 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Amounts are rounded to the nearest Pound Sterling.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents gross karting related income, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Office equipment - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Plant and machinery - 20% on cost

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 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 statement of financial position date.

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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Lydd Karting Limited (Registered number: 07473409)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Office and
property equipment fittings
£    £    £   
COST
At 1 April 2023 500,287 11,188 39,904
Additions - 1,250 34,794
At 31 March 2024 500,287 12,438 74,698
DEPRECIATION
At 1 April 2023 56,938 8,016 19,830
Charge for year 10,006 1,273 12,198
At 31 March 2024 66,944 9,289 32,028
NET BOOK VALUE
At 31 March 2024 433,343 3,149 42,670
At 31 March 2023 443,349 3,172 20,074

Motor Plant and
vehicles machinery Totals
£    £    £   
COST
At 1 April 2023 28,264 267,644 847,287
Additions 39,900 52,129 128,073
At 31 March 2024 68,164 319,773 975,360
DEPRECIATION
At 1 April 2023 26,083 146,622 257,489
Charge for year 10,520 49,380 83,377
At 31 March 2024 36,603 196,002 340,866
NET BOOK VALUE
At 31 March 2024 31,561 123,771 634,494
At 31 March 2023 2,181 121,022 589,798

Lydd Karting Limited (Registered number: 07473409)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 9,080 10,000
Trade creditors 13,609 9,850
Taxation 17,513 15,520
Social security and other taxes 1,318 50
VAT 11,563 7,489
Other creditors 53 28
Directors' current accounts 846 -
Accrued expenses 2,950 2,950
56,932 45,887

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans - 1-2 years 8,700 9,080
Bank loans - 2-5 years 4,720 12,500
13,420 21,580

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J C H Clarke.