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Registered number: 12286871
Ingliston Driving Experiences Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12286871
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,033,503 1,687,021
2,033,503 1,687,021
CURRENT ASSETS
Debtors 5 14,207 40,543
Cash at bank and in hand 78,819 784
93,026 41,327
Creditors: Amounts Falling Due Within One Year 6 (1,453,090 ) (641,366 )
NET CURRENT ASSETS (LIABILITIES) (1,360,064 ) (600,039 )
TOTAL ASSETS LESS CURRENT LIABILITIES 673,439 1,086,982
Creditors: Amounts Falling Due After More Than One Year 7 (292,087 ) (1,014,441 )
NET ASSETS 381,352 72,541
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 381,252 72,441
SHAREHOLDERS' FUNDS 381,352 72,541
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Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Hayes
Director
15/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ingliston Driving Experiences Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12286871 . The registered office is Highash Grange, Meerash Lane, Hammerwich, Staffs, WS7 0LG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 2% straight line
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 2)
3 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2022 22,760 1,715,998 11,441 1,750,199
Additions 6,526 389,577 - 396,103
As at 31 October 2023 29,286 2,105,575 11,441 2,146,302
Depreciation
As at 1 November 2022 6,488 52,490 4,200 63,178
Provided during the period 5,699 42,112 1,810 49,621
As at 31 October 2023 12,187 94,602 6,010 112,799
Net Book Value
As at 31 October 2023 17,099 2,010,973 5,431 2,033,503
As at 1 November 2022 16,272 1,663,508 7,241 1,687,021
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 14,207 20,543
Other debtors - 20,000
14,207 40,543
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 755,183 244,769
Trade creditors 5,072 1
Bank loans and overdrafts 14,787 47,571
Alison Bolton Loan 95,000 -
Other creditors 504,149 272,992
Taxation and social security 78,899 76,033
1,453,090 641,366
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 245,546
Bank loans 18,692 27,888
Other loans - 282,747
Other creditors 273,395 458,260
292,087 1,014,441
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8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 755,183 244,769
Later than five years - 245,546
755,183 490,315
755,183 490,315
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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