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Company Registration No. 02320523 (England and Wales)
Speedkarting Limited Unaudited accounts for the year ended 31 January 2025
Speedkarting Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Speedkarting Limited Company Information for the year ended 31 January 2025
Directors
Michael Paul Hollington Rebecca Hollington
Secretary
Mrs Rebecca Hollington
Company Number
02320523 (England and Wales)
Registered Office
12 Bellcast Close Appleton Warrington WA4 5SA
Accountants
GE ACCOUNTANCY LTD 4 Braithwaite Shevington Wigan Lancashire WN68BP
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Speedkarting Limited Statement of financial position as at 31 January 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
1,539,985 
1,468,623 
Current assets
Debtors
5
59,104 
8,595 
Cash at bank and in hand
46,821 
85,031 
105,925 
93,626 
Creditors: amounts falling due within one year
6
(169,819)
(60,220)
Net current (liabilities)/assets
(63,894)
33,406 
Net assets
1,476,091 
1,502,029 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,475,991 
1,501,929 
Shareholders' funds
1,476,091 
1,502,029 
For the year ending 31 January 2025 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 directors acknowledge their 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 of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by
Michael Paul Hollington Director Company Registration No. 02320523
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Speedkarting Limited Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
Speedkarting Limited is a private company, limited by shares, registered in England and Wales, registration number 02320523. The registered office is 12 Bellcast Close, Appleton, Warrington, WA4 5SA.
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 year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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:
Land & buildings
2% Straight Line Depreciation
Plant & machinery
15% Running Balance Depreciation
Motor vehicles
25% Running Balance Depreciation
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Speedkarting Limited Notes to the Accounts for the year ended 31 January 2025
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2024
1,912,594 
7,090 
83,124 
2,002,808 
Additions
150,305 
3,972 
- 
154,277 
Disposals
- 
- 
(50,000)
(50,000)
At 31 January 2025
2,062,899 
11,062 
33,124 
2,107,085 
Depreciation
At 1 February 2024
509,194 
1,455 
23,536 
534,185 
Charge for the year
41,258 
979 
6,303 
48,540 
On disposals
- 
- 
(15,625)
(15,625)
At 31 January 2025
550,452 
2,434 
14,214 
567,100 
Net book value
At 31 January 2025
1,512,447 
8,628 
18,910 
1,539,985 
At 31 January 2024
1,403,400 
5,635 
59,588 
1,468,623 
5
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
9,104 
8,595 
Amounts falling due after more than one year
Other debtors
50,000 
- 
6
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
VAT
9,462 
9,411 
Taxes and social security
68,350 
47,311 
Other creditors
1,364 
1,500 
Loans from directors
90,143 
1,440 
Accruals
500 
558 
169,819 
60,220 
7
Loans to directors
8
Average number of employees
During the year the average number of employees was 2 (2024: 2).
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