2023-01-01 04400632 2023-12-31 04400632 2023-01-01 2023-12-31 04400632 2022-12-31 04400632 2022-01-01 2022-12-31 04400632 uk-core:WithinOneYear 2022-12-31 04400632 uk-core:WithinOneYear 2023-12-31 04400632 uk-core:AfterOneYear 2022-12-31 04400632 uk-core:AfterOneYear 2023-12-31 04400632 uk-core:ShareCapital 2023-12-31 04400632 uk-core:ShareCapital 2022-12-31 04400632 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 04400632 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 04400632 uk-bus:Director1 2023-01-01 2023-12-31 04400632 uk-core:PlantMachinery 2023-01-01 2023-12-31 04400632 uk-core:ComputerEquipment 2023-01-01 2023-12-31 04400632 uk-core:ComputerEquipment 2022-12-31 04400632 uk-core:PlantMachinery 2022-12-31 04400632 uk-core:PlantMachinery 2023-12-31 04400632 uk-core:ComputerEquipment 2023-12-31 04400632 uk-core:WithinOneYear 2023-12-31 04400632 uk-core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure 04400632 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04400632 uk-bus:FRS102 2023-01-01 2023-12-31 04400632 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 04400632 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Autocross Limited
Registered Number:04400632
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
Registered Number :
04400632
As at 31 December 2023
Autocross Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
4,936
5,946
2
4,936
5,946
Current assets
Inventories
92,500
105,500
3
Trade and other receivables
11,195
14,022
4
19,591
Cash and cash equivalents
956
120,478
123,286
Trade and other payables: amounts falling due within one
year
(148,720)
(146,215)
5
(25,434)
(25,737)
Net current liabilities
Total assets less current liabilities
(20,801)
(19,488)
Trade and other payables: amounts falling due after more
than one year
(1,400)
-
6
(20,801)
Net liabilities
(20,888)
Capital and reserves
Called up share capital
100
100
Retained earnings
(20,901)
(20,988)
(20,801)
(20,888)
Shareholders' funds
For the year ended 31 December 2023 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 of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Simon Smith Director
These financial statements were approved and authorised for issue by the Board on 29 October 2024 and were signed by:
The notes form part of these financial statements
1 of 4
3
For the year ended 31 December 2023
Autocross Limited
Notes to the Financial Statements
Statutory Information
Autocross Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04400632.
Registered address:
Hatches Farm
Hatches Farm Road
Little Burstead
Billericay, Essex
CM12 9SG
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
20% Reducing balance
Office equipment
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
4
For the year ended 31 December 2023
Autocross Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Office
equipment
Plant and
machinery
£
£
£
Cost or
valuation
At 01 January 2023
32,169
2,266
29,903
136
136
-
Additions
At 31 December 2023
29,903
2,402
32,305
Provision for depreciation and impairment
At 01 January 2023
26,223
1,026
25,197
Charge for year
1,146
206
940
At 31 December 2023
27,369
1,232
26,137
At 31 December 2023
Net book value
3,766
1,170
4,936
At 31 December 2022
4,706
1,240
5,946
3. Inventories
2022
2023
£
£
Stocks
105,500
92,500
4. Trade and other receivables
2022
2023
£
£
Trade debtors
2,218
8,600
Prepayments and accrued income
7,450
1,900
Taxation and social security
4,354
695
11,195
14,022
3 of 4
5
For the year ended 31 December 2023
Autocross Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
1,468
-
Trade creditors
3,691
16,552
Accruals and deferred income
4,960
4,160
Directors' loan accounts
113,385
104,677
Other creditors
22,711
23,331
146,215
148,720
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
1,400
-
Obligations under HP/Financial leases
7. Related party transactions
The company is jointly controlled by the Directors who hold 100% of the voting rights of the company in equal
proportions.
8. Average number of persons employed
During the year the average number of employees was 1 (2022 : 2)
4 of 4