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Company Registration No. NI625234 (Northern Ireland)
33 Motorsport Limited Unaudited accounts for the period from 1 July 2023 to 31 December 2024
33 Motorsport Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
-
1,471
Current assets
Debtors
5
-
789
Cash at bank and in hand
2
73,885
2
74,674
Creditors: amounts falling due within one year
6
98
(58,130)
Net current assets
100
16,544
Net assets
100
18,015
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
-
17,915
Shareholders' funds
100
18,015
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 September 2025 and were signed on its behalf by
Michael Orr Director Company Registration No. NI625234
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33 Motorsport Limited Notes to the Accounts for the period from 1 July 2023 to 31 December 2024
1
Statutory information
33 Motorsport Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI625234. The registered office is Unit 2 Channel wharf, 21 Old Channel Road, Belfast, BT3 9DE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Going concern
These financial statements have been prepared on a basis other than going concern, which contemplates the realisation of assets and the settlement of liabilities in the normal course of business. The management has assessed the company’s ability to continue as a going concern and believes that it is more likely than not that the company will not be able to continue its operations in the foreseeable future.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and revenue can be measured reliably. Revenue from a contract to provide driving services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue 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 can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% Straight line
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.
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.
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33 Motorsport Limited Notes to the Accounts for the period from 1 July 2023 to 31 December 2024
4
Tangible fixed assets
Computer equipment
£
Cost or valuation
At cost
At 1 July 2023
12,553
Disposals
(12,553)
At 31 December 2024
-
Depreciation
At 1 July 2023
11,082
Charge for the period
538
On disposals
(11,620)
At 31 December 2024
-
Net book value
At 31 December 2024
-
At 30 June 2023
1,471
5
Debtors
2024
2023
£
£
Amounts falling due within one year
VAT
-
789
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxes and social security
-
12,040
Loans from directors
(98)
44,649
Accruals
-
1,441
(98)
58,130
7
Share capital
2024
2023
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the period the average number of employees was 1 (2023: 1).
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