Company Registration No. 11867344 (England and Wales)
TG Racing Limited
Unaudited accounts
for the year ended 31 March 2024
TG Racing Limited
Unaudited accounts
Contents
TG Racing Limited
Company Information
for the year ended 31 March 2024
Director
Howard James Goodman
Company Number
11867344 (England and Wales)
Registered Office
Wittas House, Two Rivers
Station Lane
WITNEY
Oxon
OX28 4BH
Accountants
Aventae Ltd
Wittas House, Two Rivers
Station Lane
WITNEY
Oxon
OX28 4BH
TG Racing Limited
Statement of financial position
as at 31 March 2024
Tangible assets
1,354
2,052
Cash at bank and in hand
6,312
6,887
Creditors: amounts falling due within one year
(95,308)
(92,634)
Net current liabilities
(87,820)
(85,306)
Net liabilities
(86,466)
(83,254)
Profit and loss account
(86,466)
(83,254)
Shareholders' funds
(86,466)
(83,254)
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. 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 19 November 2024 and were signed on its behalf by
Howard James Goodman
Director
Company Registration No. 11867344
TG Racing Limited
Notes to the Accounts
for the year ended 31 March 2024
TG Racing Limited is a private company, limited by shares, registered in England and Wales, registration number 11867344. The registered office is Wittas House, Two Rivers, Station Lane, WITNEY, Oxon, OX28 4BH.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in pound sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Computer equipment
20% SLB
The company has the ongoing support of it's director in order for it to meet the working capital requirements for the foreseeable future. For this reason, the director considers that the accounts should be prepared using the going concern basis.
TG Racing Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
3,794
453
4,247
At 31 March 2024
3,794
616
4,410
At 1 April 2023
2,150
45
2,195
Charge for the year
759
102
861
At 31 March 2024
2,909
147
3,056
At 31 March 2024
885
469
1,354
At 31 March 2023
1,644
408
2,052
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
94,525
92,304
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).