SPEEDWAY AUTOS LTD

SPEEDWAY AUTOS LTD
Contents Page
For the year ended 31 March 2026

Statement of Financial Position	1
Notes to the Financial Statements	2

SPEEDWAY AUTOS LTD
Statement of Financial Position
As at 31 March 2026

	Notes	2026 £	2025 £
Fixed assets
Tangible fixed assets	3	33,115	1,492
		33,115	1,492
Current assets
Debtors		(7,704)	3,726
Cash at bank and in hand		763,384	651,306
		755,680	655,032
Creditors: amount falling due within one year		(169,302)	(111,315)
Net current assets		586,378	543,717

Total assets less current liabilities		619,493	545,209
Creditors: amount falling due after more than one year		(10,176)	(19,835)
Net assets		609,317	525,374

Capital and reserves
Called up share capital		0	50
Profit and loss account		609,317	525,324
Shareholders' funds		609,317	525,374

For the year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 11 September 2026 and were signed on its behalf by:

-------------------------------
Assaab Kassab
Director

1

SPEEDWAY AUTOS LTD
Notes to the Abridged Financial Statements
For the year ended 31 March 2026

General Information

SPEEDWAY AUTOS LTD is a private company, limited by shares, registered in , registration number 08941898, registration address ARCHES 3 - 6 EXETER PARADE,, EXETER ROAD, KILBURN LONDON, NW2 3UH.

The presentation currency is £ sterling.

1.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

20% Reducing Balance

2.	Average number of employees Average number of employees during the year was 5 (2025 : 5).

3.

Tangible fixed assets

Cost or valuation	Plant and Machinery	Motor Vehicles	Total
	£	£	£
At 01 April 2025	2,486	-	2,486
Additions	-	31,912	31,912
Disposals	-	-	-
At 31 March 2026	2,486	31,912	34,398
Depreciation
At 01 April 2025	994	-	994
Charge for year	289	-	289
On disposals	-	-	-
At 31 March 2026	1,283	-	1,283
Net book values
Closing balance as at 31 March 2026	1,203	31,912	33,115
Opening balance as at 01 April 2025	1,492	-	1,492

2