Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302025-05-13false1No description of principal activityfalsetrue2023-10-011trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09786131 2023-10-01 2024-09-30 09786131 2022-10-01 2023-09-30 09786131 2024-09-30 09786131 2023-09-30 09786131 c:Director1 2023-10-01 2024-09-30 09786131 d:FurnitureFittings 2023-10-01 2024-09-30 09786131 d:FurnitureFittings 2024-09-30 09786131 d:FurnitureFittings 2023-09-30 09786131 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09786131 d:CurrentFinancialInstruments 2024-09-30 09786131 d:CurrentFinancialInstruments 2023-09-30 09786131 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 09786131 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09786131 d:ShareCapital 2024-09-30 09786131 d:ShareCapital 2023-09-30 09786131 d:RetainedEarningsAccumulatedLosses 2024-09-30 09786131 d:RetainedEarningsAccumulatedLosses 2023-09-30 09786131 c:FRS102 2023-10-01 2024-09-30 09786131 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 09786131 c:FullAccounts 2023-10-01 2024-09-30 09786131 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09786131 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 09786131









ADRIAN GIBBONS RACING LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ADRIAN GIBBONS RACING LTD
REGISTERED NUMBER: 09786131

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
20,289
23,188

Current assets
  

Debtors: amounts falling due within one year
 5 
1,200
-

Cash at bank and in hand
  
12,085
1,337

Creditors: amounts falling due within one year
 6 
(4,331)
(10,650)

Net current assets/(liabilities)
  
 
 
8,954
 
 
(9,313)

  

Net assets
  
29,243
13,875


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
29,242
13,874

  
29,243
13,875


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 May 2025.



A M Gibbons
Director


The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
ADRIAN GIBBONS RACING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Adrian Gibbons Racing Ltd ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is The Old Barn, Minchins Farm Pharisee Green, Dunmow, Essex, CM6 1JN. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis. The company is dependent on the continued support of A M Gibbons. At the time of approval of these financial statements the director is of the opinion that the company will continue in operation for the foreseeable future.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 2

 
ADRIAN GIBBONS RACING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives and is provided on the following basis:

Fixtures and fittings
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 3

 
ADRIAN GIBBONS RACING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 October 2023
28,986



At 30 September 2024

28,986



Depreciation


At 1 October 2023
5,798


Charge for the year on owned assets
2,899



At 30 September 2024

8,697



Net book value



At 30 September 2024
20,289



At 30 September 2023
23,188


5.


Debtors

2024
2023
£
£


Prepayments and accrued income
1,200
-



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
93
-

Other creditors
3,518
10,290

Accruals
720
360

4,331
10,650


Page 4

 
ADRIAN GIBBONS RACING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Related party transactions

At the year end, included within other creditors, is an amount of £3,518 (2023 - £10,290) owed to a company under common control of the director.

 
Page 5