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Company Registration No. 12437065 (England and Wales)
Evolution Racing Ltd Unaudited accounts for the year ended 29 February 2024
Evolution Racing Ltd Unaudited accounts Contents
Page
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Evolution Racing Ltd Company Information for the year ended 29 February 2024
Director
James William Laker
Company Number
12437065 (England and Wales)
Registered Office
42 SUSSEX ROAD TONBRIDGE TN9 2TR ENGLAND
Accountants
Blue Sky Accountants Limited Innovation Centre Medway Maidstone Road Chatham Kent ME5 9FD
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Evolution Racing Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
33,161 
1,250 
Current assets
Debtors
20,000 
23,701 
Cash at bank and in hand
115,660 
87,930 
135,660 
111,631 
Creditors: amounts falling due within one year
(18,591)
(26,494)
Net current assets
117,069 
85,137 
Net assets
150,230 
86,387 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
150,130 
86,287 
Shareholders' funds
150,230 
86,387 
For the year ending 29 February 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 6 November 2024 and were signed on its behalf by
James William Laker Director Company Registration No. 12437065
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Evolution Racing Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Evolution Racing Ltd is a private company, limited by shares, registered in England and Wales, registration number 12437065. The registered office is 42 SUSSEX ROAD, TONBRIDGE, TN9 2TR, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Motor vehicles
25% Straight Line
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 March 2023
5,000 
Additions
44,214 
Disposals
(1,250)
At 29 February 2024
47,964 
Depreciation
At 1 March 2023
3,750 
Charge for the year
11,053 
At 29 February 2024
14,803 
Net book value
At 29 February 2024
33,161 
At 28 February 2023
1,250 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
20,000 
23,701 
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Evolution Racing Ltd Notes to the Accounts for the year ended 29 February 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
4,000 
VAT
- 
3,779 
Trade creditors
- 
10,560 
Taxes and social security
14,991 
4,555 
Loans from directors
3,600 
3,600 
18,591 
26,494 
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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