Company registration number: 13970908
Unaudited financial statements
for the year ended 31 July 2024
for
SBK Racing Limited
Pages for filing with the Registrar
Company registration number: 13970908
SBK Racing Limited
Balance sheet
as at 31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 25,950 25,130
25,950 25,130
Current assets
Debtors 1,692 2,400
Cash at bank and in hand 1,209 4,853
2,901 7,253
Creditors: amounts falling due within
one year
(106,953) (59,621)
Net current liabilities (104,052) (52,368)
Total assets less current liabilities (78,102) (27,238)
NET LIABILITIES (78,102) (27,238)
Capital and reserves
Called up share capital 1 1
Profit and loss account (78,103) (27,239)
TOTAL EQUITY (78,102) (27,238)
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 July 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 13970908
SBK Racing Limited
Balance sheet - continued
as at 31 July 2024
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr S Coe, Director
27 November 2024
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SBK Racing Limited
Notes to the financial statements
for the year ended 31 July 2024
1 Company information
SBK Racing Limited is a private company registered in England and Wales. Its registered number is 13970908. The company is limited by shares. Its registered office is Unit C1, Holmewood Business Park, Chesterfield, Derbyshire, S42 5US.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and Equipment - 33% straight line
3 Average number of employees
During the year the average number of employees was 1 (2023 - 1).
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SBK Racing Limited
Notes to the financial statements - continued
for the year ended 31 July 2024
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 August 2023 37,498
Additions 26,100
Disposals (12,500)
At 31 July 2024 51,098
Depreciation
At 1 August 2023 12,368
Charge for year 12,780
At 31 July 2024 25,148
Net book value
At 31 July 2024 25,950
At 31 July 2023 25,130
5 Advances, credit and guarantees granted to the director
The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023.
2024 2023
£ £
Mr S Coe
Balance outstanding at start of year 57,041 -
Amounts advanced 48,848 57,041
Balance outstanding at end of year 105,889 57,041
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