Company Registration No. 13961776 (England and Wales)
Pmg Karting World Ltd
Unaudited accounts
for the year ended 31 March 2024
Pmg Karting World Ltd
Unaudited accounts
Contents
Pmg Karting World Ltd
Company Information
for the year ended 31 March 2024
Company Number
13961776 (England and Wales)
Registered Office
Unit 17b/D Hartlebury Trading Estate
Walton Road
Kidderminster
DY10 4JB
England
Pmg Karting World Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
469,880
529,026
Cash at bank and in hand
138
21
Creditors: amounts falling due within one year
(942,062)
(745,548)
Net current liabilities
(914,412)
(734,729)
Total assets less current liabilities
(444,532)
(205,703)
Creditors: amounts falling due after more than one year
(92,706)
(200,526)
Net liabilities
(537,238)
(406,229)
Called up share capital
1
1
Profit and loss account
(537,239)
(406,230)
Shareholders' funds
(537,238)
(406,229)
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 25 June 2024 and were signed on its behalf by
Daniel Wilkinson
Director
Company Registration No. 13961776
Pmg Karting World Ltd
Notes to the Accounts
for the year ended 31 March 2024
Pmg Karting World Ltd is a private company, limited by shares, registered in England and Wales, registration number 13961776. The registered office is Unit 17b/D Hartlebury Trading Estate, Walton Road, Kidderminster, DY10 4JB, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
10 years straight line
Plant & machinery
Range of straight line and reducing balance methods between periods ranging from 1 year to 12 years.
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2023
8,547
574,489
583,036
At 31 March 2024
8,547
603,549
612,096
At 1 April 2023
855
53,155
54,010
Charge for the year
-
88,206
88,206
At 31 March 2024
855
141,361
142,216
At 31 March 2024
7,692
462,188
469,880
At 31 March 2023
7,692
521,334
529,026
Pmg Karting World Ltd
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Accrued income and prepayments
27,512
9,360
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,952
20,767
Obligations under finance leases and hire purchase contracts
107,127
107,127
Trade creditors
34,429
3,677
Amounts owed to group undertakings and other participating interests
-
568,509
Taxes and social security
1,406
562
Other creditors
1,633
44,906
Loans from directors
790,628
-
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
92,706
200,526
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).