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Company Registration No. 10655146 (England and Wales)
Funk Motorsport Limited Unaudited accounts for the year ended 31 March 2024
Funk Motorsport Limited Unaudited accounts Contents
Page
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Funk Motorsport Limited Company Information for the year ended 31 March 2024
Directors
Mr Ryan Brock Mr Stephen Hodges
Company Number
10655146 (England and Wales)
Registered Office
UNIT 1 TEMPLE HOUSE ESTATE 6 WEST ROAD HARLOW ESSEX CM20 2DU ENGLAND
Accountants
Mrs Pamela Bodell 19 The Springs Broxbourne Hertfordshire EN10 6EW
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Funk Motorsport Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
559,526 
536,890 
Current assets
Inventories
71,687 
60,708 
Debtors
5,690 
2,566 
Cash at bank and in hand
148,653 
91,367 
226,030 
154,641 
Creditors: amounts falling due within one year
(80,248)
(44,902)
Net current assets
145,782 
109,739 
Total assets less current liabilities
705,308 
646,629 
Creditors: amounts falling due after more than one year
(304,398)
(312,320)
Net assets
400,910 
334,309 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
400,810 
334,209 
Shareholders' funds
400,910 
334,309 
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 directors acknowledge their 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 of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by
Mr Ryan Brock Director Company Registration No. 10655146
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Funk Motorsport Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Funk Motorsport Limited is a private company, limited by shares, registered in England and Wales, registration number 10655146. The registered office is UNIT 1 TEMPLE HOUSE ESTATE, 6 WEST ROAD, HARLOW, ESSEX, CM20 2DU, ENGLAND.
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 £ sterling.
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:
Land & buildings
depreciated over the length of the lease
Plant & machinery
25%
Motor vehicles
25%
Fixtures & fittings
25%
Computer equipment
25%
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
545,725 
4,137 
- 
- 
6,161 
556,023 
Additions
- 
1,140 
35,202 
17,458 
604 
54,404 
At 31 March 2024
545,725 
5,277 
35,202 
17,458 
6,765 
610,427 
Depreciation
At 1 April 2023
15,159 
1,034 
- 
- 
2,940 
19,133 
Charge for the year
15,592 
1,319 
8,801 
4,365 
1,691 
31,768 
At 31 March 2024
30,751 
2,353 
8,801 
4,365 
4,631 
50,901 
Net book value
At 31 March 2024
514,974 
2,924 
26,401 
13,093 
2,134 
559,526 
At 31 March 2023
530,566 
3,103 
- 
- 
3,221 
536,890 
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Funk Motorsport Limited Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,125 
380 
Amounts falling due after more than one year
Other debtors
2,565 
2,186 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
6,161 
7,282 
Trade creditors
7,638 
8,143 
Taxes and social security
63,582 
14,179 
Proposed dividends
41,000 
28,000 
Other creditors
2,760 
- 
Loans from directors
(40,893)
(15,702)
Accruals
- 
3,000 
80,248 
44,902 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
304,398 
312,416 
Taxes and social security
- 
(96)
304,398 
312,320 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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