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REGISTERED NUMBER: 02547860 (England and Wales)















THE ASSOCIATION OF RACING DRIVERS
SCHOOLS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






THE ASSOCIATION OF RACING DRIVERS
SCHOOLS LIMITED (REGISTERED NUMBER: 02547860)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


THE ASSOCIATION OF RACING DRIVERS
SCHOOLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr P Blakeney
Mr R Peacock
Mr W Coombs
Mr P Alexander
Mr. P. Edwards
Mr G Marshallsay
Mr A Cooper
Mrs M Edwards
Mr A Brunton
Mr J M Barnett
Mr S F Gray
Mr R S J Young
Mr N J Rice
Mr S Deeks
Mr G B Ludlow
Mr J P H Layton
Mr D O'Neill





SECRETARY: Mr G Marshallsay





REGISTERED OFFICE: 16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF





REGISTERED NUMBER: 02547860 (England and Wales)





ACCOUNTANTS: Johns Jones & Lo Limited
Chartered Accountants & Registered Auditors
16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF

THE ASSOCIATION OF RACING DRIVERS
SCHOOLS LIMITED (REGISTERED NUMBER: 02547860)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 6 13,236 25,404
Cash at bank 210,833 169,550
224,069 194,954
CREDITORS
Amounts falling due within one year 7 59,948 52,717
NET CURRENT ASSETS 164,121 142,237
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,121

142,237

RESERVES
Income and expenditure account 164,121 142,237
164,121 142,237

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

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

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 26th September 2024 and were signed on its behalf by:





Mr G Marshallsay - Director


THE ASSOCIATION OF RACING DRIVERS
SCHOOLS LIMITED (REGISTERED NUMBER: 02547860)

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

1. STATUTORY INFORMATION

The Association Of Racing Drivers Schools Limited is a private company, limited by guarantee , 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 (£).


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 accounts have been 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.

Computer software
Computer software originally cost £10920 in 2017.

This has now been fully written off in accordance with the company's accounting policy of attributing a life of 3 years to such an asset.

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 - 33% on reducing balance
Fixtures and fittings - 20% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2023
and 31st December 2023 10,920
AMORTISATION
At 1st January 2023
and 31st December 2023 10,920
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

THE ASSOCIATION OF RACING DRIVERS
SCHOOLS LIMITED (REGISTERED NUMBER: 02547860)

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

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 2,689 423 3,112
DEPRECIATION
At 1st January 2023
and 31st December 2023 2,689 423 3,112
NET BOOK VALUE
At 31st December 2023 - - -
At 31st December 2022 - - -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 564 564
Prepayments 12,672 24,840
13,236 25,404

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 8,362 3,166
Fees received in advance 49,541 47,547
Accrued expenses 2,045 2,004
59,948 52,717

8. RELATED PARTY DISCLOSURES

At the end of the period the company was owed £564 (2022 £564) by Castle Combe Circuit Limited which is partially controlled by the director Mr G Marshallsay.

Mr G Marshallsay was paid the sum of £2,200 (2022 £3,500) in relation to his duties concerning the administration of the company.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors.