Registered number
10276141
SCU Motorsport Ltd
Filleted Accounts
31 July 2024
SCU Motorsport Ltd
Registered number: 10276141
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 55,461 19,419
Current assets
Debtors 4 - 200
Creditors: amounts falling due within one year 5 (46,800) (26,061)
Net current liabilities (46,800) (25,861)
Net assets/(liabilities) 8,661 (6,442)
Capital and reserves
Called up share capital 100 100
Profit and loss account 8,561 (6,542)
Shareholder's funds 8,661 (6,442)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alan O'Neill
Director
Approved by the board on 3 March 2025
SCU Motorsport Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons (including directors) employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 18,000 3,983 21,983
Additions 36,509 2,250 38,759
At 31 July 2024 54,509 6,233 60,742
Depreciation
At 1 August 2023 - 2,564 2,564
Charge for the year 1,800 917 2,717
At 31 July 2024 1,800 3,481 5,281
Net book value
At 31 July 2024 52,709 2,752 55,461
At 31 July 2023 18,000 1,419 19,419
4 Debtors 2024 2023
£ £
Other debtors - 200
5 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 46,800 26,061
6 Other information
SCU Motorsport Ltd is a private company limited by shares and incorporated in England. Its registered office is:
E-Innovation Centre
Shifnal Road
Priorslee
Telford
TF2 9FT
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