Registration number:
Darley Moor Motor Cycle Road Racing Club Limited
(A company limited by guarantee)
for the Year Ended 31 October 2021
Darley Moor Motor Cycle Road Racing Club Limited
Contents
Company Information |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Darley Moor Motor Cycle Road Racing Club Limited
Company Information
Directors |
Mr E T Nelson Mr D Ryder Mr A Wilson Ms S Nelson Mr A J Barber |
Company secretary |
Mr E T Nelson |
Registered office |
|
Accountants |
|
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Darley Moor Motor Cycle Road Racing Club Limited
for the Year Ended 31 October 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Darley Moor Motor Cycle Road Racing Club Limited for the year ended 31 October 2021 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Darley Moor Motor Cycle Road Racing Club Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Darley Moor Motor Cycle Road Racing Club Limited and state those matters that we have agreed to state to the Board of Directors of Darley Moor Motor Cycle Road Racing Club Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Darley Moor Motor Cycle Road Racing Club Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Darley Moor Motor Cycle Road Racing Club Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Darley Moor Motor Cycle Road Racing Club Limited. You consider that Darley Moor Motor Cycle Road Racing Club Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Darley Moor Motor Cycle Road Racing Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Chartered Accountants
51 St John Street
Ashbourne
Derbyshire
DE6 1GP
Darley Moor Motor Cycle Road Racing Club Limited
(Registration number: 01493124)
Balance Sheet as at 31 October 2021
Note |
2021 |
2020 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
19,336 |
19,387 |
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Profit and loss account |
|
|
|
|
|
||
Total equity |
|
|
Darley Moor Motor Cycle Road Racing Club Limited
(Registration number: 01493124)
Balance Sheet as at 31 October 2021
For the financial year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.
These financial statements have been delivered to the Registrar of Companies in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors' report has been taken.
Approved and authorised by the
......................................... |
Darley Moor Motor Cycle Road Racing Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021
General information |
The company is a company limited by guarantee incorporated in England and Wales registration number: 01493124.
Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency is £ sterling.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.
Darley Moor Motor Cycle Road Racing Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021
Government grants
Government grants received are only recognised when there is reasonable assurance that the entity will comply with the conditions attached to them and the grants will be received. Government grants are recognised in the profit and loss account on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
10% straight line basis |
Plant and machinery |
33% straight line basis |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Darley Moor Motor Cycle Road Racing Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021
Tangible assets |
Land and buildings |
Plant and machinery |
Total |
|
Cost or valuation |
|||
At 1 November 2020 |
|
|
|
Additions |
- |
|
|
Disposals |
- |
( |
( |
At 31 October 2021 |
|
|
|
Depreciation |
|||
At 1 November 2020 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposal |
- |
( |
( |
At 31 October 2021 |
|
|
|
Carrying amount |
|||
At 31 October 2021 |
|
|
|
At 31 October 2020 |
|
|
|
Included within the net book value of land and buildings above is £4,458 (2020 - £4,958) in respect of freehold land and buildings.
Stocks |
2021 |
2020 |
|
Stock |
|
|
Debtors |
2021 |
2020 |
|
Prepayments |
|
|
Other debtors |
- |
|
|
|
Darley Moor Motor Cycle Road Racing Club Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
|
Due within one year |
||
Trade creditors |
|
- |
Taxation and social security |
|
- |
Accruals and deferred income |
|
|
|
|
Loans and borrowings |
2021 |
2020 |
|
Non-current loans and borrowings |
||
Other borrowings |
- |
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £