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Quark Motorsport Ltd

Registered Number
04382408
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Quark Motorsport Ltd
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

D J Clapham
M Robinson

Company Secretary

D J Clapham

Registered Address

Unit 7, Sadler Park
Earlsfield Close
Lincoln
LN6 3RT

Registered Number

04382408 (England and Wales)
Quark Motorsport Ltd
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors321,21123,661
Cash at bank and on hand2,6782,694
23,88926,355
Creditors amounts falling due within one year4(22,632)(25,791)
Net current assets (liabilities)1,257564
Total assets less current liabilities1,257564
Net assets1,257564
Capital and reserves
Called up share capital100100
Profit and loss account1,157464
Shareholders' funds1,257564
The financial statements were approved and authorised for issue by the Board of Directors on 13 November 2024, and are signed on its behalf by:
D J Clapham
Director
Registered Company No. 04382408
Quark Motorsport Ltd
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.Average number of employees

20242023
Average number of employees during the year00
3.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income21,21123,661
Total21,21123,661
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables15,73220,903
Amounts owed to related parties4,8832,105
Taxation and social security1,4451,127
Accrued liabilities and deferred income5721,656
Total22,63225,791
5.Related party transactions
A loan account exists between the company and its parent. At the balance sheet date, the amount due to Davmar Engineering Limited was £4,883 (2023 - £2,105).