2023-03-01 11836897 2024-02-29 11836897 2023-03-01 2024-02-29 11836897 2023-02-28 11836897 2022-03-01 2023-02-28 11836897 uk-core:WithinOneYear 2023-02-28 11836897 uk-core:WithinOneYear 2024-02-29 11836897 uk-core:ShareCapital 2024-02-29 11836897 uk-core:ShareCapital 2023-02-28 11836897 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 11836897 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 11836897 uk-bus:Director1 2023-03-01 2024-02-29 11836897 uk-core:Vehicles 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure 11836897 uk-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11836897 uk-bus:FRS102 2023-03-01 2024-02-29 11836897 uk-bus:FilletedAccounts 2023-03-01 2024-02-29 11836897 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29
P4 Racing Ltd
Registered Number:11836897
For the year ended 29 February 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 29 February 2024
P4 Racing Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
11836897
As at 29 February 2024
P4 Racing Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
33,429
44,572
2
33,429
44,572
Current assets
Trade and other receivables
31,409
29,555
3
22,110
Cash and cash equivalents
11,055
40,610
53,519
Trade and other payables: amounts falling due within one year
(293,395)
(304,003)
4
(239,876)
(263,393)
Net current liabilities
Total assets less current liabilities
(229,964)
(195,304)
41,749
37,081
Provisions for liabilities
(188,215)
Net liabilities
(158,223)
Capital and reserves
Called up share capital
100
100
Retained earnings
(188,315)
(158,323)
(188,215)
(158,223)
Shareholders' funds
For the year ended 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 of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Andrew William Lewis Ferguson Director
These financial statements were approved and authorised for issue by the Board on 28 November 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 29 February 2024
P4 Racing Ltd
Notes to the Financial Statements
Statutory Information
P4 Racing Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
11836897.
Registered address:
Frampton Belvedere
Frampton Mansell
Stroud
Gloucestershire
GL6 8JF
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act
2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation
of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Reducing balance
Motor Vehicles
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
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5
For the year ended 29 February 2024
P4 Racing Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Motor Vehicles
£
Cost or valuation
At 01 March 2023
140,870
At 29 February 2024
140,870
Provision for depreciation and impairment
At 01 March 2023
96,298
Charge for year
11,143
At 29 February 2024
107,441
At 29 February 2024
Net book value
33,429
At 28 February 2023
44,572
3. Trade and other receivables
2023
2024
£
£
Trade debtors
29,555
29,316
Other debtors
-
2,093
31,409
29,555
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
13,333
5,313
Taxation and social security
2,588
-
Other creditors
288,082
288,082
304,003
293,395
5. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
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