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Company No: 02612322 (England and Wales)

SUPER PRIX KARTING LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

SUPER PRIX KARTING LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

SUPER PRIX KARTING LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
SUPER PRIX KARTING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
Director Mr J B Sheppard
Registered office Springfield House
Springfield Road
Horsham
RH12 2RG
United Kingdom
Company number 02612322 (England and Wales)
Accountant Kreston Reeves LLP
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
SUPER PRIX KARTING LIMITED

BALANCE SHEET

As at 31 August 2024
SUPER PRIX KARTING LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 597
0 597
Current assets
Debtors 4 1,430 997
Cash at bank and in hand 5 1,723 14,503
3,153 15,500
Creditors: amounts falling due within one year 6 ( 13,528) ( 12,061)
Net current (liabilities)/assets (10,375) 3,439
Total assets less current liabilities (10,375) 4,036
Creditors: amounts falling due after more than one year 7 ( 8,333) ( 17,500)
Net liabilities ( 18,708) ( 13,464)
Capital and reserves
Called-up share capital 8 4 4
Profit and loss account ( 18,712 ) ( 13,468 )
Total shareholders' deficit ( 18,708) ( 13,464)

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.

Director's responsibilities:

The financial statements of Super Prix Karting Limited (registered number: 02612322) were approved and authorised for issue by the Director on 27 May 2025. They were signed on its behalf by:

Mr J B Sheppard
Director
SUPER PRIX KARTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
SUPER PRIX KARTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Super Prix Karting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. the company's registered number is 02612322. The address of the Company's registered office is Springfield House, Springfield Road, Horsham, RH12 2RG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 - 6 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2023 62,253 62,253
At 31 August 2024 62,253 62,253
Accumulated depreciation
At 01 September 2023 61,656 61,656
Charge for the financial year 597 597
At 31 August 2024 62,253 62,253
Net book value
At 31 August 2024 0 0
At 31 August 2023 597 597

4. Debtors

2024 2023
£ £
Corporation tax 1,051 997
Other debtors 379 0
1,430 997

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 1,723 14,503

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 2,028 0
Other taxation and social security 0 61
Other creditors 1,500 2,000
13,528 12,061

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 8,333 17,500

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
40 Ordinary shares of £ 0.10 each 4 4