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REGISTERED NUMBER: 04795700 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Monza Sports Tuning Limited

Monza Sports Tuning Limited (Registered number: 04795700)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Monza Sports Tuning Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: B Griffiths



SECRETARY: Mrs J Griffiths



REGISTERED OFFICE: Bridge Garage
London Road
Ashington
West Sussex
RH20 3DD



REGISTERED NUMBER: 04795700 (England and Wales)



ACCOUNTANTS: Hills & Peeks
Accountants, Business & Tax Advisers
62 The Street
Rustington
West Sussex
BN16 3NR



BANKERS: Bank of Scotland plc
8 Air Street
Brighton
BN1 3FB

Monza Sports Tuning Limited (Registered number: 04795700)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 754,079 765,623

CURRENT ASSETS
Stocks 216,084 265,068
Debtors 5 22,119 32,761
Cash at bank and in hand 118,376 29,197
356,579 327,026
CREDITORS
Amounts falling due within one year 6 (314,903 ) (278,515 )
NET CURRENT ASSETS 41,676 48,511
TOTAL ASSETS LESS CURRENT
LIABILITIES

795,755

814,134

CREDITORS
Amounts falling due after more than one
year

7

(283,780

)

(303,186

)
NET ASSETS 511,975 510,948

CAPITAL AND RESERVES
Called up share capital 167 167
Revaluation reserve 9 225,000 225,000
Retained earnings 286,808 285,781
SHAREHOLDERS' FUNDS 511,975 510,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Monza Sports Tuning Limited (Registered number: 04795700)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 May 2025 and were signed by:





B Griffiths - Director


Monza Sports Tuning Limited (Registered number: 04795700)

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


1. STATUTORY INFORMATION

Monza Sports Tuning Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 50% on reducing balance and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Monza Sports Tuning Limited (Registered number: 04795700)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 726,727 187,298 914,025
Additions - 2,250 2,250
Disposals - (18,873 ) (18,873 )
At 31 December 2024 726,727 170,675 897,402
DEPRECIATION
At 1 January 2024 - 148,402 148,402
Charge for year - 14,598 14,598
Eliminated on disposal - (19,677 ) (19,677 )
At 31 December 2024 - 143,323 143,323
NET BOOK VALUE
At 31 December 2024 726,727 27,352 754,079
At 31 December 2023 726,727 38,896 765,623

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2017 225,000 - 225,000
Cost 501,727 170,675 672,402
726,727 170,675 897,402

Monza Sports Tuning Limited (Registered number: 04795700)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. TANGIBLE FIXED ASSETS - continued

If the freehold property had not been revalued 2017 would have been included at the following historical cost:

31.12.24 31.12.23
£    £   
Cost 501,727 501,727

Value of land in freehold land and buildings 501,727 501,727

Freehold land and buildings were valued on an open market basis on 10 May 2017 by Crickmay Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 9,721 8,957
Other debtors 12,398 23,804
22,119 32,761

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 17,850 16,650
Trade creditors 48,838 49,245
Taxation and social security 46,981 41,125
Other creditors 201,234 171,495
314,903 278,515

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 229,202 246,712
Other creditors 54,578 56,474
283,780 303,186

Monza Sports Tuning Limited (Registered number: 04795700)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 247,052 263,362
Other loans 149,454 138,046
396,506 401,408

The loans and overdraft are secured by way of a first fixed and floating charge over the company's fixed and current assets.

9. RESERVES
Revaluation
reserve
£   
At 1 January 2024
and 31 December 2024 225,000