2024-01-01 2024-12-31 05665570 Mine Quarry Motorsport Limited false 05665570 2024-01-01 2024-12-31 05665570 uk-bus:Director1 2024-01-01 2024-12-31 05665570 uk-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05665570 uk-bus:SmallEntities 2024-01-01 2024-12-31 05665570 uk-bus:FullAccounts 2024-01-01 2024-12-31 05665570 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05665570 2024-01-01 05665570 2024-12-31 05665570 2023-12-31 xbrli:pure iso4217:GBP 05665570 2023-01-01 2023-12-31

Company Registration Number : 05665570 (England and Wales)
05665570
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-12-31
false
Mine Quarry Motorsport Limited
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2024-01-01
Mine Quarry Motorsport Limited Unaudited filleted financial statements For the year ended 31 December 2024

Mine Quarry Motorsport Limited Contents For the year ended 31 December 2024

CONTENTS | PAGE
Company Information | 3
Statement of Financial Position | 4
Notes to the Financial Statements | 5 - 7

Mine Quarry Motorsport Limited Company Information For the year ended 31 December 2024

Company registration number |  | 05665570 (England and Wales)
Director |  | Hans Johnson
Registered office address |  | Examiner House
|  | Leigh-On-Mendip
|  | Radstock
|  | United Kingdom
|  | BA3 5QQ
Accountant |  | Chalmers & Co (SW) Limited
|  | Chartered Accountants
|  | 6 The Linen Yard
|  | South Street, Crewkerne, Somerset
|  | TA18 8AB

Mine Quarry Motorsport Limited Statement of Financial Position For the year ended 31 December 2024

|  |  | 2024 |  | 2023
| Notes |  | £ |  | £
Fixed assets |  |  |  |  |
Property, plant and equipment |  |  | 188,281 |  | 178,665
|  |  | 188,281 |  | 178,665
Current assets |  |  |  |  |
Debtors | 6 |  | 2,173 |  | 53,566
Cash and cash equivalents |  |  | 18,259 |  | 5,017
|  |  | 20,432 |  | 58,583
Current liabilities |  |  |  |  |
Creditors: Amounts falling due within one year | 7 |  | (136,250) |  | (125,613)
|  |  | (136,250) |  | (125,613)
Net current (liabilities)/assets |  |  | (115,817) |  | (67,030)
Total assets less current liabilities |  |  | 72,463 |  | 111,635
Non-current liabilities |  |  |  |  |
Creditors: Amounts falling due after more than one year | 8 |  | (31,272) |  | (48,406)
Provisions for liabilities |  |  | (18,268) |  | (18,268)
Net assets/(liabilities) |  |  | 22,923 |  | 44,961
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 100 |  | 100
Retained earnings |  |  | 22,823 |  | 44,861
Shareholder's funds |  |  | 22,923 |  | 44,961
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A. The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
For the year ended 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 their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared 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.
Approved by the Board on 22 October 2025
.............................
Hans Johnson (Director)
Company registration number: 05665570

/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */

Balance sheet at 2024-12-31 31 December 2024
|  |  |  | 2024 |  | 2023
|  |  |  | £ |  | £
Fixed Assets |  |  |  | 188,281 |  | 178,665
Current Assets |  |  |  | 18,259 |  | 56,275
Cash in Hand/Bank |  |  |  | 18,138 |  | 4,624
Prepayments and accrued income |  |  |  | 2,173 |  | 2,308
Creditors: amounts falling due within one year |  |  |  | (136,250) |  | (125,613)
Net current assets/(liabilities) |  |  |  | (115,817) |  | (67,030)
Total assets less current liabilities |  |  |  | 72,463 |  | 111,635
CREDITORS: Amounts falling due more than one year |  |  |  | (31,272) |  | (48,406)
Provisions for liabilities |  |  |  | (18,268) |  | (18,268)
Net Assets/(liabilities) |  |  |  | 22,923 |  | 44,961
Capital and Reserves |  |  |  | 22,923 |  | 44,961
Called up share capital |  |  |  | 100 |  | 100
Profit and loss account |  |  |  | 22,823 |  | 44,861
SHAREHOLDER'S FUND |  |  |  | 22,923 |  | 44,961
For the year ending 31/12/2024 the company was entitled to exemption 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. For the year ending 31-12-2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 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 in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 22 October 2025 2025-10-22 and signed on behalf of the board, |  |  |  |  |  |  |  |  |  |
............................. |  |  |  |  |  |  |  |  |  |
Hans Johnson |  |  |  |  |  |  |  |  |  |
Director |  |  |  |  |  |  |  |  |  |
Company registration number: 05665570 |  |  |  |  |  |  |  |  |  |

Mine Quarry Motorsport Limited Notes to the Financial Statements For the year ended 31 December 2024

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Examiner House, Leigh-On-Mendip, Radstock, United Kingdom, BA3 5QQ.
(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.
(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:
Asset class and depreciation rate
Land and Buildings | 10% straight line
Plant and Machinery | 25% reducing balance
Short Leasehold Properties |
Investment Properties |
Long Leasehold Properties |
Commercial Vehicles |
Fixtures and Fittings |
Equipment | 33% straight line
Motor Cars | 25% reducing balance
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. The company as lessee Assets held under finance leases are initially recognised as assets of the company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in the income statement. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases,the aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis over the lease period.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred Tax
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Going Concern Disclosure
At the year end the company had net current liabilities of £115,817 (2023 £67,030), it is therefore dependent on the support of the director to continue trading. The director has indicated that continued support will be forthcoming in the foreseeable future and the company is currently meeting its day to day liabilities as they fall due. Having considered the company's current trading position and the continued financial support offered, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the accounts.
(4) Employees
During the year, the average number of employees including director was 3 (2023 : 2).
(5) Tangible fixed assets
| Land and Buildings | Plant and Machinery | Equipment | Motor Vehicles | Totals
| £ | £ | £ | £ | £
Cost |  |  |  |  |
As at 01 January 2024 | 7,863 | 367,598 | 11,206 | 122,613 | 509,280
Additions | - | 18,200 | 199 | 39,460 | 57,859
As at 31 December 2024 | 7,863 | 385,798 | 11,405 | 162,073 | 567,139
Depreciation |  |  |  |  |
As at 01 January 2024 | 787 | 209,371 | 10,772 | 109,685 | 330,615
For the year | 786 | 40,383 | 431 | 6,643 | 48,243
As at 31 December 2024 | 1,573 | 249,754 | 11,203 | 116,328 | 378,858
Net book value |  |  |  |  |
As at 31 December 2024 | 6,290 | 136,044 | 202 | 45,745 | 188,281
As at 31 December 2023 | 7,076 | 158,227 | 434 | 12,928 | 178,665
(6) Debtors
Amounts falling due within one year
| 2024 |  | 2023
| £ |  | £
Trade debtors | - |  | 51,258
Prepayments and accrued income | 2,173 |  | 2,308
| 2,173 |  | 53,566
(7) Creditors: Amounts falling due within one year
| 2024 |  | 2023
| £ |  | £
Trade creditors | 15,600 |  | -
Finance leases | 17,134 |  | 16,599
Other taxes and social security | 5,947 |  | 6,216
Other creditors | 95,180 |  | 100,526
Accruals and deferred income | 2,388 |  | 2,273
| 136,249 |  | 125,614
(8) Creditors: Amounts falling due after more than one year
| 2024 |  | 2023
| £ |  | £
Finance leases | 31,272 |  | 48,406
| 31,272 |  | 48,406
(9) Share capital and reserves
Alloted, called up and fully paid: | 2024 |  | 2023
| £ |  | £
100 (2023 : 100) Ordinary Shares of £ 1 each | 100 |  | 100
| 100 |  | 100
Retained earnings |  |  | 2024
|  |  | £
At 1 January 2024 |  |  | 44,861
Loss of the year |  |  | (22,038)
At 31 December 2024 |  |  | 22,823