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Company Registration No. 7547022 (England and Wales)
MP Motor Sport Limited Unaudited accounts for the year ended 31 March 2025
MP Motor Sport Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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MP Motor Sport Limited Company Information for the year ended 31 March 2025
Director
M N J Poole
Company Number
7547022 (England and Wales)
Registered Office
1 West Street Lewes East Sussex BN7 2NZ
Accountants
Maxwell-Gumbleton & Co. 1 West Street Lewes East Sussex BN7 2NZ
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MP Motor Sport Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
100,688
155,040
Investment property
5
725,000
767,542
825,688
922,582
Current assets
Cash at bank and in hand
13,941
109,249
Creditors: amounts falling due within one year
6
(2,942)
(5,441)
Net current assets
10,999
103,808
Total assets less current liabilities
836,687
1,026,390
Creditors: amounts falling due after more than one year
7
(3,457,029)
(3,484,029)
Net liabilities
(2,620,342)
(2,457,639)
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
(2,620,442)
(2,457,739)
Shareholders' funds
(2,620,342)
(2,457,639)
For the year ending 31 March 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 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 1 December 2025 and were signed on its behalf by
M N J Poole Director Company Registration No. 7547022
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MP Motor Sport Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
MP Motor Sport Limited is a private company, limited by shares, registered in England and Wales, registration number 7547022. The registered office is 1 West Street, Lewes, East Sussex, BN7 2NZ.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
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:
Plant & machinery
20% reducing balance/25% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
20% reducing balance/3 year straight line
Other tangible fixed assets
20% straight line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Going concern
The accounts are prepared on a going concern basis. The company is dependent upon the continued support of the director, M N J Poole. It is the opinion of the director that this support will continue and therefore it is appropriate to prepare the accounts on a going concern basis.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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MP Motor Sport Limited Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
51,405
331,866
3,978
387,249
Additions
-
-
19,944
19,944
At 31 March 2025
51,405
331,866
23,922
407,193
Depreciation
At 1 April 2024
33,281
195,260
3,668
232,209
Charge for the year
3,625
66,373
4,298
74,296
At 31 March 2025
36,906
261,633
7,966
306,505
Net book value
At 31 March 2025
14,499
70,233
15,956
100,688
At 31 March 2024
18,124
136,606
310
155,040
5
Investment property
2025
£
Fair value at 1 April 2024
767,542
Additions
55,000
Net loss from fair value adjustments
(97,542)
At 31 March 2025
725,000
6
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
-
4,295
Taxes and social security
2,142
346
Accruals
800
800
2,942
5,441
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Loans from directors
3,457,029
3,484,029
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Controlling party
The company is ultimately controlled by the director, M N J Poole.
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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