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Registration number: 02871749

South Yorkshire Kart Club Limited
(A company limited by guarantee)
Unaudited Filleted Abridged Financial Statements
for the Year Ended 31 August 2024

South Yorkshire Kart Club Limited

Contents

Company Information | 1
Abridged Balance Sheet | 2 to 3
Notes to the Unaudited Abridged Financial Statements | 4 to 6

South Yorkshire Kart Club Limited

Company Information

Directors | Mr Alfred Limer Mr Brian Lord Mr Trevor Faunch Ms Donna Peat Mrs Annie Lord Mr Philip Sharrocks

Company secretary | Mrs Annie Lord

Registered office | 10 Brookside Crescent Wath Upon Dearne Rotherham S63 6AF

Accountants | SDN Accountancy Limited 52 Park Road Askern Doncaster DN6 0BA

South Yorkshire Kart Club Limited

(Registration number: 02871749)
Abridged Balance Sheet as at 31 August 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 108,616 | 112,983
Current assets |  |  |
Stocks |  | 795 | 2,000
Debtors |  | 5,442 | 9,442
Cash at bank and in hand |  | 24,031 | 16,799
|  | 30,268 | 28,241
Prepayments and accrued income |  | 2,281 | 2,230
Net current assets |  | 32,549 | 30,471
Net assets |  | 141,165 | 143,454
Reserves |  |  |
Retained earnings |  | 141,165 | 143,454
Surplus |  | 141,165 | 143,454

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:

South Yorkshire Kart Club Limited

(Registration number: 02871749)
Abridged Balance Sheet as at 31 August 2024

......................................... Ms Donna Peat Director

South Yorkshire Kart Club Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1 | General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
10 Brookside Crescent
Wath Upon Dearne
Rotherham
S63 6AF

The principal place of business is:
Station Road
Wombwell
S73 0BJ

These financial statements were authorised for issue by the Board on 22 May 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

South Yorkshire Kart Club Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land & buildings | 2% on cost
Plant & machinery | 10% reducing balance
Office equipment | 33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

South Yorkshire Kart Club Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4 | Tangible assets

| Land and buildings £ | Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 September 2023 | 128,544 | 226,212 | 379 | 355,135
At 31 August 2024 | 128,544 | 226,212 | 379 | 355,135
Depreciation
At 1 September 2023 | 35,453 | 206,449 | 250 | 242,152
Charge for the year | 2,262 | 1,976 | 129 | 4,367
At 31 August 2024 | 37,715 | 208,425 | 379 | 246,519
Carrying amount
At 31 August 2024 | 90,829 | 17,787 | - | 108,616
At 31 August 2023 | 93,091 | 19,763 | 129 | 112,983

Included within the net book value of land and buildings above is £90,829 (2023 - £93,091) in respect of freehold land and buildings. Of this £15,461 relates to freehold land, which is not depreciated.

5 | Share capital

The company is Limited by guarantee, each member being a guarantor for the sum not exceeding £1. The company is run as a not for profit organisation and has no shareholders as no dividends are paid. All surplus funds the company generates are reinvested into the clubs facilities

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £0 each | - | - | - | -

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £0 each | - | - | - | -