Darley Moor Motor Cycle Road Racing Club Limited 01493124 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is that of promotion of motor cycle road racing Digita Accounts Production Advanced 6.30.9574.0 true true 01493124 2023-11-01 2024-10-31 01493124 2024-10-31 01493124 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-10-31 01493124 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-10-31 01493124 core:CurrentFinancialInstruments 2024-10-31 01493124 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 01493124 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 01493124 core:LandBuildings 2024-10-31 01493124 core:OtherPropertyPlantEquipment 2024-10-31 01493124 bus:SmallEntities 2023-11-01 2024-10-31 01493124 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 01493124 bus:FilletedAccounts 2023-11-01 2024-10-31 01493124 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 01493124 bus:RegisteredOffice 2023-11-01 2024-10-31 01493124 bus:CompanySecretaryDirector1 2023-11-01 2024-10-31 01493124 bus:Director2 2023-11-01 2024-10-31 01493124 bus:Director5 2023-11-01 2024-10-31 01493124 bus:CompanyLimitedByGuarantee 2023-11-01 2024-10-31 01493124 core:LandBuildings 2023-11-01 2024-10-31 01493124 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 01493124 core:PlantMachinery 2023-11-01 2024-10-31 01493124 countries:EnglandWales 2023-11-01 2024-10-31 01493124 2023-10-31 01493124 core:LandBuildings 2023-10-31 01493124 core:OtherPropertyPlantEquipment 2023-10-31 01493124 2022-11-01 2023-10-31 01493124 2023-10-31 01493124 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-10-31 01493124 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-10-31 01493124 core:CurrentFinancialInstruments 2023-10-31 01493124 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 01493124 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 01493124 core:LandBuildings 2023-10-31 01493124 core:OtherPropertyPlantEquipment 2023-10-31 iso4217:GBP xbrli:pure

Registration number: 01493124

Darley Moor Motor Cycle Road Racing Club Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Darley Moor Motor Cycle Road Racing Club Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Darley Moor Motor Cycle Road Racing Club Limited

Company Information

Directors

Mr E T Nelson

Mr D Ryder

Ms S Nelson

Company secretary

Mr E T Nelson

Registered office

Darley Moor Motor Cycle Road Racing Club Ltd Darley Moor Sports Centre
Darley Moor
Ashbourne
DE6 2ET

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

Darley Moor Motor Cycle Road Racing Club Limited

(Registration number: 01493124)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

38,906

19,300

Current assets

 

Stocks

5

20,019

20,492

Debtors

6

11,404

15,782

Cash at bank and in hand

 

87,425

125,116

 

118,848

161,390

Creditors: Amounts falling due within one year

7

(30,212)

(31,657)

Net current assets

 

88,636

129,733

Total assets less current liabilities

 

127,542

149,033

Creditors: Amounts falling due after more than one year

7

(1,507)

-

Net assets

 

126,035

149,033

Reserves

 

Retained earnings

126,035

149,033

Surplus

 

126,035

149,033

 

Darley Moor Motor Cycle Road Racing Club Limited

(Registration number: 01493124)
Balance Sheet as at 31 October 2024 (continued)

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the Board on 19 January 2025 and signed on its behalf by:
 

.........................................
Mr E T Nelson
Company secretary and director

   
     
 

Darley Moor Motor Cycle Road Racing Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a company limited by guarantee incorporated in England and Wales registration number: 01493124.

Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
Darley Moor Motor Cycle Road Racing Club Ltd Darley Moor Sports Centre
Darley Moor
Ashbourne
DE6 2ET
United Kingdom

These financial statements were authorised for issue by the Board on 19 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Going concern

The financial statements have been prepared on a going concern basis.

 

Darley Moor Motor Cycle Road Racing Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants received are only recognised when there is reasonable assurance that the entity will comply with the conditions attached to them and the grants will be received. Government grants are recognised in the profit and loss account on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

10% straight line basis

Plant and machinery

33% straight line basis

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

 

Darley Moor Motor Cycle Road Racing Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Darley Moor Motor Cycle Road Racing Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2023

24,435

187,257

211,692

Additions

15,320

15,558

30,878

Disposals

-

(3,000)

(3,000)

At 31 October 2024

39,755

199,815

239,570

Depreciation

At 1 November 2023

20,977

171,415

192,392

Charge for the year

1,766

9,506

11,272

Eliminated on disposal

-

(3,000)

(3,000)

At 31 October 2024

22,743

177,921

200,664

Carrying amount

At 31 October 2024

17,012

21,894

38,906

At 31 October 2023

3,458

15,842

19,300

Included within the net book value of land and buildings above is £17,011 (2023 - £3,458) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Stock

20,019

20,492

 

Darley Moor Motor Cycle Road Racing Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

6

Debtors

Current

2024
£

2023
£

Prepayments

11,322

15,782

Other debtors

82

-

 

11,404

15,782

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,029

-

Trade creditors

 

3,567

2,455

Taxation and social security

 

1

3,737

Accruals and deferred income

 

25,615

25,465

 

30,212

31,657

Creditors include hire purchase contracts which are secured of £1,029 (2023 - £nil).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

1,507

-

Creditors include hire purchase contracts which are secured of £1,507 (2023 - £nil).

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £38,333 (2023 - £83,333).

 

Darley Moor Motor Cycle Road Racing Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

1,029

-

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

1,507

-