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Company Registration No. 04496315 (England and Wales)
Cg Motorsport Ltd Unaudited accounts for the year ended 31 July 2024
Cg Motorsport Ltd Unaudited accounts Contents
Page
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Cg Motorsport Ltd Company Information for the year ended 31 July 2024
Directors
Michael Deakin Karen Deakin
Company Number
04496315 (England and Wales)
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Cg Motorsport Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
116,472 
141,345 
Current assets
Inventories
40,000 
44,069 
Debtors
- 
5,448 
Cash at bank and in hand
29,773 
30,541 
69,773 
80,058 
Creditors: amounts falling due within one year
(115,992)
(107,768)
Net current liabilities
(46,219)
(27,710)
Total assets less current liabilities
70,253 
113,635 
Creditors: amounts falling due after more than one year
(63,704)
(30,752)
Provisions for liabilities
Other provisions
- 
(26,793)
Net assets
6,549 
56,090 
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
6,545 
56,086 
Shareholders' funds
6,549 
56,090 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by
Michael Deakin Director Company Registration No. 04496315
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Cg Motorsport Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Cg Motorsport Ltd is a private company, limited by shares, registered in England and Wales, registration number 04496315.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2023
254,322 
72,162 
9,859 
336,343 
At 31 July 2024
254,322 
72,162 
9,859 
336,343 
Depreciation
At 1 August 2023
130,310 
55,022 
9,666 
194,998 
Charge for the year
21,884 
2,955 
34 
24,873 
At 31 July 2024
152,194 
57,977 
9,700 
219,871 
Net book value
At 31 July 2024
102,128 
14,185 
159 
116,472 
At 31 July 2023
124,012 
17,140 
193 
141,345 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Trade debtors
- 
5,448 
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Cg Motorsport Ltd Notes to the Accounts for the year ended 31 July 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
12,565 
- 
Obligations under finance leases and hire purchase contracts
- 
27,215 
Trade creditors
93,427 
29,629 
Taxes and social security
- 
40,018 
Other creditors
- 
906 
115,992 
107,768 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
17,900 
18,333 
Obligations under finance leases and hire purchase contracts
38,222 
12,419 
Taxes and social security
7,582 
- 
63,704 
30,752 
8
Average number of employees
During the year the average number of employees was 10 (2023: 10).
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