2 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07178788 2023-04-01 2024-03-31 07178788 2024-03-31 07178788 2023-03-31 07178788 2022-04-01 2023-03-31 07178788 2023-03-31 07178788 2022-03-31 07178788 core:PlantMachinery 2023-04-01 2024-03-31 07178788 core:MotorVehicles 2023-04-01 2024-03-31 07178788 bus:RegisteredOffice 2023-04-01 2024-03-31 07178788 bus:Director1 2023-04-01 2024-03-31 07178788 bus:Director2 2023-04-01 2024-03-31 07178788 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 07178788 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 07178788 core:WithinOneYear 2024-03-31 07178788 core:WithinOneYear 2023-03-31 07178788 core:ShareCapital 2024-03-31 07178788 core:ShareCapital 2023-03-31 07178788 core:RetainedEarningsAccumulatedLosses 2024-03-31 07178788 core:RetainedEarningsAccumulatedLosses 2023-03-31 07178788 core:ShareCapital 2022-03-31 07178788 core:RetainedEarningsAccumulatedLosses 2022-03-31 07178788 core:PreviouslyStatedAmount core:ShareCapital 2024-03-31 07178788 bus:Director1 2023-03-31 07178788 bus:Director1 2024-03-31 07178788 bus:Director2 2023-03-31 07178788 bus:Director2 2024-03-31 07178788 bus:Director1 2022-03-31 07178788 bus:Director1 2023-03-31 07178788 bus:Director2 2022-03-31 07178788 bus:Director2 2023-03-31 07178788 bus:Director1 2022-04-01 2023-03-31 07178788 bus:Director2 2022-04-01 2023-03-31 07178788 bus:SmallEntities 2023-04-01 2024-03-31 07178788 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07178788 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07178788 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07178788 bus:AbridgedAccounts 2023-04-01 2024-03-31
Company registration number: 07178788
Thunder Road Speedshop Limited
Unaudited filleted abridged financial statements
31 March 2024
Thunder Road Speedshop Limited
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Thunder Road Speedshop Limited
Directors and other information
Directors A White
A Smith
Company number 07178788
Registered office Lemons Garage
Cheapside
Woking
Surrey
Thunder Road Speedshop Limited
Abridged statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 399 632
_______ _______
399 632
Current assets
Stocks 1,075 1,085
Debtors 28,080 26,197
Cash at bank and in hand 501 3,003
_______ _______
29,656 30,285
Creditors: amounts falling due
within one year ( 30,044) ( 30,915)
_______ _______
Net current liabilities ( 388) ( 630)
_______ _______
Total assets less current liabilities 11 2
_______ _______
Net assets 11 2
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 10 1
_______ _______
Shareholders funds 11 2
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
The members have agreed to the preparation of abridged accounts.
These financial statements were approved by the board of directors and authorised for issue on 25 October 2024 , and are signed on behalf of the board by:
A White
Director
Company registration number: 07178788
Thunder Road Speedshop Limited
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2022 1 58 59
Profit for the year 4,823 4,823
_______ _______ _______
Total comprehensive income for the year - 4,823 4,823
Dividends paid and payable ( 4,880) ( 4,880)
_______ _______ _______
Total investments by and distributions to owners - ( 4,880) ( 4,880)
_______ _______ _______
At 31 March 2023 and 1 April 2023 1 1 2
Profit for the year 6,909 6,909
_______ _______ _______
Total comprehensive income for the year - 6,909 6,909
Dividends paid and payable ( 6,900) ( 6,900)
_______ _______ _______
Total investments by and distributions to owners - ( 6,900) ( 6,900)
_______ _______ _______
At 31 March 2024 1 10 11
_______ _______ _______
Thunder Road Speedshop Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lemons Garage, Cheapside, Woking, Surrey.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the accounting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
£
Cost
At 1 April 2023 and 31 March 2024 19,270
_______
Depreciation
At 1 April 2023 18,638
Charge for the year 233
_______
At 31 March 2024 18,871
_______
Carrying amount
At 31 March 2024 399
_______
At 31 March 2023 632
_______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
A White 10,856 2,979 13,835
A Smith 11,837 2,408 14,245
_______ _______ _______
22,693 5,387 28,080
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
A White 10,658 198 10,856
A Smith 8,908 2,929 11,837
_______ _______ _______
19,566 3,127 22,693
_______ _______ _______
7. Controlling party
The company is under the control of the directors.