Company registration number: 09379272
Unaudited financial statements
for the year ended 31 January 2025
for
MTC Motorsport Ltd
Pages for filing with the Registrar
Company registration number: 09379272
MTC Motorsport Ltd
Balance sheet
as at 31 January 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 4 546,768 271,072
546,768 271,072
Current assets
Stocks 180,000 163,150
Debtors 30,671 17,688
Cash at bank and in hand 282,310 536,663
492,981 717,501
Creditors: amounts falling due within one
year
(111,148) (157,992)
Net current assets 381,833 559,509
Total assets less current liabilities 928,601 830,581
NET ASSETS 928,601 830,581
Capital and reserves
Called up share capital 11 2
Profit and loss account 928,590 830,579
TOTAL EQUITY 928,601 830,581
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 January 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 09379272
MTC Motorsport Ltd
Balance sheet - continued
as at 31 January 2025
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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr M Carter, Director
1 August 2025
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MTC Motorsport Ltd
Notes to the financial statements
for the year ended 31 January 2025
1 Company information
MTC Motorsport Ltd is a private company registered in England and Wales. Its registered number is 09379272. The company is limited by shares. Its registered office is Unit 11 Twin Brook Business Park, Twin Brook, Clitheroe, BB7 1QX.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - 2% straight line
Plant and machinery etc.:
Plant and machinery - 10% reducing balance
Fixtures & fittings - 10% reducing balance
Motor vehicles - 25% 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.
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MTC Motorsport Ltd
Notes to the financial statements - continued
for the year ended 31 January 2025
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 3 (2024 - 2).
4 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 February 2024 201,454 119,169 320,623
Additions 358,290 150,050 508,340
Disposals (201,454) (42,400) (243,854)
At 31 January 2025 358,290 226,819 585,109
Depreciation
At 1 February 2024 21,152 28,399 49,551
Charge for year 2,389 25,301 27,690
Eliminated on disposal (21,152) (17,748) (38,900)
At 31 January 2025 2,389 35,952 38,341
Net book value
At 31 January 2025 355,901 190,867 546,768
At 31 January 2024 180,302 90,770 271,072
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