Company registration number 06981101 (England and Wales)
PRS RACING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
PRS RACING LIMITED
COMPANY INFORMATION
Director
Mr P Cowan
Secretary
Mr P Cowan
Company number
06981101
Registered office
Unit 21
Belasis Court
Belasis Hall Technology Park
Billingham
TS23 4AZ
Accountants
Benson Wood Ltd
Unit 21
Belasis Court
Belasis Hall Technology Park
Billingham
TS23 4AZ
PRS RACING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet and notes to the financial statements
2 - 3
PRS RACING LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF PRS RACING LIMITED
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PRS Racing Limited for the year ended 31 August 2024, which comprise the balance sheet, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of PRS Racing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of PRS Racing Limited and state those matters that we have agreed to state to the board of directors of PRS Racing Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PRS Racing Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that PRS Racing Limited has kept adequate accounting records and to prepare statutory financial statements that comply with the requirements of the Companies Act 2006. You consider that PRS Racing Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of PRS Racing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Benson Wood Ltd
Chartered Certified Accountants
Unit 21
Belasis Court
Belasis Hall Technology Park
Billingham
TS23 4AZ
9 May 2025
PRS RACING LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
£
£
£
£
Current assets
14,860
11,867
Creditors: amounts falling due within one year
(7,185)
(6,231)
Net current assets
7,675
5,636
Net assets
7,675
5,636
Capital and reserves
7,675
5,636
Notes to the financial statements
1
Director's benefits: advances, credit and guarantees
As at the balance sheet date there were loan balances due to the directors of £3,452 (2023: £2,963). The loans are on an interest free basis and repayable on demand.
2
Employees
The average number of persons, including directors, employed by the company during the year was as follows:
2024
2023
Number
Number
Employees
PRS Racing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 21, Belasis Court, Belasis Hall Technology Park, Billingham, TS23 4AZ.
For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime', and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
PRS RACING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 9 May 2025
Mr P Cowan
Director
Company registration number 06981101 (England and Wales)