Company Registration No. 03083519 (England and Wales)
GWENT KARTING LIMITED
Unaudited accounts
for the year ended 31 July 2024
GWENT KARTING LIMITED
Unaudited accounts
Contents
GWENT KARTING LIMITED
Company Information
for the year ended 31 July 2024
Company Number
03083519 (England and Wales)
Registered Office
Unit 10-11,
Leeway INDUSTRIAL ESTATE
Gwent Supakart
GWENT
NP19 4SL
United Kingdom
Accountants
PTC Accounting & Co Certified Accountants
12 Dawlish Close, SK14 3DX
Dawlish close
HYDE
Lancashire
SK14 3DX
GWENT KARTING LIMITED
Statement of financial position
as at 31 July 2024
Called up share capital not paid
100
100
Tangible assets
277,969
205,121
Cash at bank and in hand
30,039
38,860
Creditors: amounts falling due within one year
(160,000)
-
Net current (liabilities)/assets
(32,324)
227,403
Total assets less current liabilities
245,745
432,624
Creditors: amounts falling due after more than one year
24,000
(40,000)
Net assets
269,745
392,624
Called up share capital
100
100
Profit and loss account
269,645
392,524
Shareholders' funds
269,745
392,624
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 October 2024 and were signed on its behalf by
Darren Evans
Director
Company Registration No. 03083519
GWENT KARTING LIMITED
Notes to the Accounts
for the year ended 31 July 2024
GWENT KARTING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03083519. The registered office is Unit 10-11, , Leeway INDUSTRIAL ESTATE, Gwent Supakart, GWENT, NP19 4SL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
138,121
67,000
-
205,121
Additions
60,000
-
112,617
172,617
Revaluations
(49,530)
(12,700)
-
(62,230)
Disposals
-
-
(37,539)
(37,539)
At 31 July 2024
148,591
54,300
75,078
277,969
At 31 July 2024
148,591
54,300
75,078
277,969
At 31 July 2023
138,121
67,000
-
205,121
This past year in an attempt to increase Sales and Footfall We have had to increase the size of the Karting Tract which has meant that we have had to borrow 1 to pay for the new additional tract and to buy new cars
GWENT KARTING LIMITED
Notes to the Accounts
for the year ended 31 July 2024
Amounts falling due within one year
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
8
Creditors: amounts falling due after more than one year
2024
2023
Taxes and social security
(24,000)
40,000
9
Average number of employees
During the year the average number of employees was 15 (2023: 15).