Classic Racing Motor Cycle Club Limited |
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Balance Sheet |
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for the Period Ended 31 October 2024 |
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The option not to file the profit and loss account has been taken. |
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For the year ending 31 October 2024 the company was entitled to exemption 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. |
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The members have agreed to the preparation of abridged accounts. |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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The financial statements were approved by the Board of Directors on |
2025-01-08 |
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SIGNED ON BEHALF OF THE BOARD BY |
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Name |
Christopher Robert Barfe |
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Status |
Director |
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The notes form part of these financial statements |
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Average number of employees during period |
0 |
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Page 5 |
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Classic Racing Motor Cycle Club Limited |
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Notes to the Financial Statements |
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for the Period Ended 31 October 2024 |
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1. Accounting policies |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime. |
Long-term and ongoing contracts turnover represents the value of work done including estimates of |
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amounts not yet invoiced and is recognised by reference to the stage of completion. |
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Tangible fixed assets Depreciation |
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Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings |
25% Straight Line |
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Office equipment |
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25% Straight Line |
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Plant and machinery |
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25% Straight Line |
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Intangible fixed assets |
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Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable. |
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Page 6 |
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