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REGISTERED NUMBER: 03644131 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

UK. SPORTS CARS LIMITED

UK. SPORTS CARS LIMITED (REGISTERED NUMBER: 03644131)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


UK. SPORTS CARS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: P F Clugston





REGISTERED OFFICE: Wingham Industrial Estate Goodnestone Ro
Wingham
Canterbury
Kent
CT3 1AR





REGISTERED NUMBER: 03644131 (England and Wales)





ACCOUNTANTS: Ackland Webb Ltd
Chartered Certified Accountants
Suite 1, First Floor
3 Jubilee Way
Faversham
Kent
ME13 8GD

UK. SPORTS CARS LIMITED (REGISTERED NUMBER: 03644131)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 30,487 7,749

CURRENT ASSETS
Stocks 1,018,305 923,964
Debtors 5 161,892 413,414
Cash at bank 153,854 21,682
1,334,051 1,359,060
CREDITORS
Amounts falling due within one year 6 (1,286,099 ) (1,327,480 )
NET CURRENT ASSETS 47,952 31,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,439

39,329

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 78,437 39,327
78,439 39,329

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 December 2024 and were signed by:





P F Clugston - Director


UK. SPORTS CARS LIMITED (REGISTERED NUMBER: 03644131)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

UK. Sports Cars Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

UK. SPORTS CARS LIMITED (REGISTERED NUMBER: 03644131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 38,497
Additions 31,325
At 31 March 2024 69,822
DEPRECIATION
At 1 April 2023 30,748
Charge for year 8,587
At 31 March 2024 39,335
NET BOOK VALUE
At 31 March 2024 30,487
At 31 March 2023 7,749

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 52,080 197,202
Other debtors 109,812 216,212
161,892 413,414

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 79,085 118,115
Taxation and social security 24,331 13,795
Other creditors 1,182,683 1,195,570
1,286,099 1,327,480