2 2 Daytona (GB) Limited 05754060 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the motor factor importers. Digita Accounts Production Advanced 6.30.9574.0 true 05754060 2023-04-01 2024-03-31 05754060 2024-03-31 05754060 core:CurrentFinancialInstruments 2024-03-31 05754060 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05754060 core:OtherResidualIntangibleAssets 2024-03-31 05754060 core:FurnitureFittingsToolsEquipment 2024-03-31 05754060 core:OtherPropertyPlantEquipment 2024-03-31 05754060 bus:SmallEntities 2023-04-01 2024-03-31 05754060 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05754060 bus:FilletedAccounts 2023-04-01 2024-03-31 05754060 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05754060 bus:RegisteredOffice 2023-04-01 2024-03-31 05754060 bus:Director1 2023-04-01 2024-03-31 05754060 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05754060 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 05754060 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 05754060 core:OfficeEquipment 2023-04-01 2024-03-31 05754060 core:PlantMachinery 2023-04-01 2024-03-31 05754060 countries:England 2023-04-01 2024-03-31 05754060 2023-03-31 05754060 core:OtherResidualIntangibleAssets 2023-03-31 05754060 core:FurnitureFittingsToolsEquipment 2023-03-31 05754060 core:OtherPropertyPlantEquipment 2023-03-31 05754060 2022-04-01 2023-03-31 05754060 2023-03-31 05754060 core:CurrentFinancialInstruments 2023-03-31 05754060 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05754060 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-03-31 05754060 core:OtherResidualIntangibleAssets 2023-03-31 05754060 core:PreviouslyStatedAmount 2023-03-31 xbrli:pure iso4217:GBP

Registration number: 05754060

Daytona (GB) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Daytona (GB) Limited

(Registration number: 05754060)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,008

2,016

Current assets

 

Stocks

6

1,200

1,200

Cash at bank and in hand

 

10

17

 

1,210

1,217

Creditors: Amounts falling due within one year

7

(21,456)

(22,494)

Net current liabilities

 

(20,246)

(21,277)

Net liabilities

 

(19,238)

(19,261)

Capital and reserves

 

Called up share capital

800

800

Retained earnings

(20,038)

(20,061)

Shareholders' deficit

 

(19,238)

(19,261)

For the financial year ending 31 March 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board for issue on 20 March 2025 and signed on its behalf by:
 

.........................................

S A Metcalfe

Director

 

Daytona (GB) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
7 Emmetts Grove
Hampton Gardens
Peterborough
Cambs
PE7 8RJ

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

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

Office equipment

25% reducing balance

Plant & machinery

25% reducing balance

 

Daytona (GB) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website Development

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Daytona (GB) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2023

3,024

3,024

At 31 March 2024

3,024

3,024

Amortisation

At 1 April 2023

1,008

1,008

Amortisation charge

1,008

1,008

At 31 March 2024

2,016

2,016

Carrying amount

At 31 March 2024

1,008

1,008

At 31 March 2023

2,016

2,016

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

2,519

920

3,439

At 31 March 2024

2,519

920

3,439

Depreciation

At 1 April 2023

2,519

920

3,439

At 31 March 2024

2,519

920

3,439

Carrying amount

At 31 March 2024

-

-

-

6

Stocks

2024
£

2023
£

Other inventories

1,200

1,200

 

Daytona (GB) Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

5,152

6,547

Amounts owed to related parties

15,792

14,595

Other creditors

 

512

1,352

 

21,456

22,494

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

5,152

6,547