Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-012024-01-01falseNo description of principal activity66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC366259 2024-01-01 2024-12-31 SC366259 2023-01-01 2023-12-31 SC366259 2024-12-31 SC366259 2023-12-31 SC366259 c:CompanySecretary1 2024-01-01 2024-12-31 SC366259 c:Director1 2024-01-01 2024-12-31 SC366259 c:Director2 2024-01-01 2024-12-31 SC366259 c:Director3 2024-01-01 2024-12-31 SC366259 c:Director4 2024-01-01 2024-12-31 SC366259 c:Director5 2024-01-01 2024-12-31 SC366259 c:Director7 2024-01-01 2024-12-31 SC366259 c:RegisteredOffice 2024-01-01 2024-12-31 SC366259 d:PlantMachinery 2024-01-01 2024-12-31 SC366259 d:PlantMachinery 2024-12-31 SC366259 d:PlantMachinery 2023-12-31 SC366259 d:CurrentFinancialInstruments 2024-12-31 SC366259 d:CurrentFinancialInstruments 2023-12-31 SC366259 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC366259 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC366259 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC366259 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC366259 c:FRS102 2024-01-01 2024-12-31 SC366259 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC366259 c:FullAccounts 2024-01-01 2024-12-31 SC366259 c:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 SC366259 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: SC366259










KNOCKHILL MOTOR SPORTS CLUB
(A company limited by guarantee)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
KNOCKHILL MOTOR SPORTS CLUB
 
(A company limited by guarantee)
 

COMPANY INFORMATION


Directors
Mr S F Gray 
Mr D Butcher 
Mr G Stagg 
Mrs G Hobbs 
Mr G Shedden 
Mr D Vincent 




Company secretary
Mrs J Shedden



Registered number
SC366259



Registered office
Knockhill Racing Circuit

By Dunfermline

KY12 9TF




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
KNOCKHILL MOTOR SPORTS CLUB
  
(A company limited by guarantee)
REGISTERED NUMBER:SC366259

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
27,983
14,390

Cash at bank and in hand
  
45,849
60,651

  
73,832
75,041

Creditors: amounts falling due within one year
 6 
(7,070)
(7,085)

Net current assets
  
 
 
66,762
 
 
67,956

Total assets less current liabilities
  
66,762
67,956

  

Net assets
  
66,762
67,956


Capital and reserves
  

Profit and loss account
  
66,762
67,956

  
66,762
67,956


Page 1

 
KNOCKHILL MOTOR SPORTS CLUB
  
(A company limited by guarantee)
REGISTERED NUMBER:SC366259

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 directors acknowledge their 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 by: 





Mr D Butcher
Director

Date: 1 May 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
KNOCKHILL MOTOR SPORTS CLUB
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1.


General information

The Company is limited by guarantee and incorporated in Scotland, Registration Number SC366259. The registered office address is Knockhill Racing Circuit, By Dunfermline, KY12 9TF.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
KNOCKHILL MOTOR SPORTS CLUB
 
(A company limited by guarantee)
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant, machinery and equipment
-
15%
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.

 
2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 4

 
KNOCKHILL MOTOR SPORTS CLUB
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


4.


Tangible fixed assets





Plant, machinery and equipment

£



Cost or valuation


At 1 January 2024
2,397



At 31 December 2024

2,397



Depreciation


At 1 January 2024
2,397



At 31 December 2024

2,397



Net book value



At 31 December 2024
-



At 31 December 2023
-


5.


Debtors

2024
2023
£
£


Trade debtors
500
-

Other debtors
26,483
14,390

Prepayments and accrued income
1,000
-

27,983
14,390



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
200
5,995

Accruals and deferred income
6,870
1,090

7,070
7,085


Page 5

 
KNOCKHILL MOTOR SPORTS CLUB
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024



7.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1.00 towards the assets of the company in the event of liquidation.

Page 6