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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
Page
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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
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TG Racing Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,354 
2,052 
Current assets
Debtors
1,176 
441 
Cash at bank and in hand
6,312 
6,887 
7,488 
7,328 
Creditors: amounts falling due within one year
(95,308)
(92,634)
Net current liabilities
(87,820)
(85,306)
Net liabilities
(86,466)
(83,254)
Capital and reserves
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
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TG Racing Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
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 pound sterling.
Turnover
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:
Plant & machinery
20% SLB
Computer equipment
20% SLB
Going concern
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.
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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 
Additions
- 
163 
163 
At 31 March 2024
3,794 
616 
4,410 
Depreciation
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 
Net book value
At 31 March 2024
885 
469 
1,354 
At 31 March 2023
1,644 
408 
2,052 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
33 
Trade debtors
1,176 
408 
1,176 
441 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
439 
- 
Loans from directors
94,525 
92,304 
Accruals
344 
330 
95,308 
92,634 
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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