Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 NI051990 Mr Kieron Graffin McNicholl Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI051990 2023-03-31 NI051990 2024-03-31 NI051990 2023-04-01 2024-03-31 NI051990 frs-core:Non-currentFinancialInstruments 2024-03-31 NI051990 frs-core:ComputerEquipment 2023-04-01 2024-03-31 NI051990 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 NI051990 frs-core:MotorVehicles 2023-04-01 2024-03-31 NI051990 frs-core:PlantMachinery 2023-04-01 2024-03-31 NI051990 frs-core:ShareCapital 2024-03-31 NI051990 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI051990 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI051990 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 NI051990 frs-bus:SmallEntities 2023-04-01 2024-03-31 NI051990 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 NI051990 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI051990 frs-bus:Director1 2023-04-01 2024-03-31 NI051990 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 NI051990 frs-countries:NorthernIreland 2023-04-01 2024-03-31 NI051990 2022-03-31 NI051990 2023-03-31 NI051990 2022-04-01 2023-03-31 NI051990 frs-core:Non-currentFinancialInstruments 2023-03-31 NI051990 frs-core:ShareCapital 2023-03-31 NI051990 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: NI051990
Kg Motorsport Limited
ABRIDGED Financial Statements
For The Year Ended 31 March 2024
J.A.McNicholl & Company Ltd
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Statement of Financial Position
Registered number: NI051990
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 125,655 123,898
125,655 123,898
CURRENT ASSETS
Stocks 2,180,909 2,137,118
Debtors - 103,000
Cash at bank and in hand 598,162 190,100
2,779,071 2,430,218
Creditors: Amounts Falling Due Within One Year (392,689 ) (282,415 )
NET CURRENT ASSETS (LIABILITIES) 2,386,382 2,147,803
TOTAL ASSETS LESS CURRENT LIABILITIES 2,512,037 2,271,701
Creditors: Amounts Falling Due After More Than One Year (130,325 ) (165,890 )
NET ASSETS 2,381,712 2,105,811
CAPITAL AND RESERVES
Called up share capital 5 300 300
Income Statement 2,381,412 2,105,511
SHAREHOLDERS' FUNDS 2,381,712 2,105,811
Page 1
Page 2
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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
All of the company's members have consented to the preparation of an Abridged Statement of Financial Position for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Kieron Graffin
Director
20/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Kg Motorsport Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI051990 . The registered office is 18 Market Road, Ballymena, Co Antrim, BT43 6EL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 20%
Motor Vehicles 20%
Computer Equipment 20%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 202,691
Additions 18,644
As at 31 March 2024 221,335
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 78,793
Provided during the period 16,887
As at 31 March 2024 95,680
Net Book Value
As at 31 March 2024 125,655
As at 1 April 2023 123,898
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
Page 4