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Registered number: 03819799
Comtec Racing Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Steve Pye & Co.
Chartered Certified Accountants
Unit 10 Aylsham Business Park
Richard Oakes Road
Aylsham
Norfolk
NR11 6FD
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 03819799
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 9,473 9,473
9,474 9,474
CURRENT ASSETS
Debtors 6 47,944 47,944
Cash at bank and in hand 577 577
48,521 48,521
Creditors: Amounts Falling Due Within One Year 7 (1,252,014 ) (1,252,014 )
NET CURRENT ASSETS (LIABILITIES) (1,203,493 ) (1,203,493 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,194,019 ) (1,194,019 )
NET LIABILITIES (1,194,019 ) (1,194,019 )
CAPITAL AND RESERVES
Called up share capital 8 500,000 500,000
Share premium account 149,950 149,950
Income Statement (1,843,969 ) (1,843,969 )
SHAREHOLDERS' FUNDS (1,194,019) (1,194,019)
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Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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.
On behalf of the board
Mr Pierre Moncheur De Rieudotte
Director
31 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Comtec Racing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03819799 . The registered office is Unit 10 Aylsham Business Park Richard Oakes Road, Aylsham, Norwich, Norfolk, NR11 6FD.  The presentation currency of the financial statements is the Pound Sterling (£).
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. 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:
Plant & Machinery 25% RB
Motor Vehicles 25% RB
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: )
- -
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 1
As at 31 December 2024 1
Net Book Value
As at 31 December 2024 1
As at 1 January 2024 1
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2024 215,646 303,943 519,589
As at 31 December 2024 215,646 303,943 519,589
Depreciation
As at 1 January 2024 215,646 294,470 510,116
As at 31 December 2024 215,646 294,470 510,116
Net Book Value
As at 31 December 2024 - 9,473 9,473
As at 1 January 2024 - 9,473 9,473
Page 3
Page 4
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 38,205 38,205
Other debtors 9,739 9,739
47,944 47,944
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 47,095 47,095
Bank loans and overdrafts 18,739 18,739
Other creditors 1,179,999 1,179,999
Taxation and social security 6,181 6,181
1,252,014 1,252,014
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 500,000 500,000
9. Related Party Transactions
Mr P M De Rieudotte, as a director, was owed £976,892 (2023-£976,892) by Comtec Racing Limited as at 31st December 2024.
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