IRIS Accounts Production v24.1.0.578 05237191 Board of Directors 1.5.23 30.4.24 30.4.24 Repairs and servicing of motor vehicles false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh052371912023-04-30052371912024-04-30052371912023-05-012024-04-30052371912022-04-30052371912022-05-012023-04-30052371912023-04-3005237191ns15:EnglandWales2023-05-012024-04-3005237191ns14:PoundSterling2023-05-012024-04-3005237191ns10:Director12023-05-012024-04-3005237191ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005237191ns10:SmallEntities2023-05-012024-04-3005237191ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3005237191ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005237191ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005237191ns10:FullAccounts2023-05-012024-04-3005237191ns10:Director22023-05-012024-04-3005237191ns10:CompanySecretary12023-05-012024-04-3005237191ns10:RegisteredOffice2023-05-012024-04-3005237191ns5:CurrentFinancialInstruments2024-04-3005237191ns5:CurrentFinancialInstruments2023-04-3005237191ns5:ShareCapital2024-04-3005237191ns5:ShareCapital2023-04-3005237191ns5:RetainedEarningsAccumulatedLosses2024-04-3005237191ns5:RetainedEarningsAccumulatedLosses2023-04-3005237191ns5:OwnedAssets2023-05-012024-04-3005237191ns5:OwnedAssets2022-05-012023-04-3005237191ns5:PlantMachinery2023-04-3005237191ns5:PlantMachinery2023-05-012024-04-3005237191ns5:PlantMachinery2024-04-3005237191ns5:PlantMachinery2023-04-3005237191ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3005237191ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-30
REGISTERED NUMBER: 05237191 (England and Wales)









Report of the Directors and

Unaudited Financial Statements

for the Year Ended 30 April 2024

for

John Taylor Motorsport Ltd.

John Taylor Motorsport Ltd. (Registered number: 05237191)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


John Taylor Motorsport Ltd.

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs A E Taylor
J G Taylor





SECRETARY: Mrs A E Taylor





REGISTERED OFFICE: Rivendell, Twynham'S Hill
Shirrell Heath
Southampton
Hampshire
SO32 3JL





REGISTERED NUMBER: 05237191 (England and Wales)





ACCOUNTANTS: A J Wheeler Limited
338 London Road
Portsmouth
Hampshire
PO2 9JY

John Taylor Motorsport Ltd. (Registered number: 05237191)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

Mrs A E Taylor
J G Taylor

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs A E Taylor - Director


15 November 2024

John Taylor Motorsport Ltd. (Registered number: 05237191)

Income Statement
for the Year Ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 9,666 12,246

Cost of sales 4,933 6,248
GROSS PROFIT 4,733 5,998

Administrative expenses 4,793 4,947
OPERATING (LOSS)/PROFIT and
(LOSS)/PROFIT BEFORE TAXATION (60 ) 1,051

Tax on (loss)/profit 9 259
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (69 ) 792

John Taylor Motorsport Ltd. (Registered number: 05237191)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 647 754

CURRENT ASSETS
Stocks 1,015 315
Debtors 6 738 708
Cash at bank 2,403 3,973
4,156 4,996
CREDITORS
Amounts falling due within one year 7 1,255 1,633
NET CURRENT ASSETS 2,901 3,363
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,548

4,117

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,548 3,117
3,548 4,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:





Mrs A E Taylor - Director


John Taylor Motorsport Ltd. (Registered number: 05237191)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

John Taylor Motorsport Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 107 312

John Taylor Motorsport Ltd. (Registered number: 05237191)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 4,397
DEPRECIATION
At 1 May 2023 3,643
Charge for year 107
At 30 April 2024 3,750
NET BOOK VALUE
At 30 April 2024 647
At 30 April 2023 754

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 300 440
Other debtors 438 268
738 708

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 258
Taxation and social security 9 259
Other creditors 1,246 1,116
1,255 1,633

8. ULTIMATE CONTROLLING PARTY

The controlling party is J G Taylor.