REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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For The Year Ended 30 September 2014 |
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for |
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MS Motorsport Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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For The Year Ended 30 September 2014 |
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for |
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MS Motorsport Limited |
MS Motorsport Limited (Registered number: 07012568) |
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Contents of the Abbreviated Accounts |
For The Year Ended 30 September 2014 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
MS Motorsport Limited |
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Company Information |
For The Year Ended 30 September 2014 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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MS Motorsport Limited (Registered number: 07012568) |
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Abbreviated Balance Sheet |
30 September 2014 |
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30.9.14 | 30.9.13 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
MS Motorsport Limited (Registered number: 07012568) |
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Abbreviated Balance Sheet - continued |
30 September 2014 |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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MS Motorsport Limited (Registered number: 07012568) |
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Notes to the Abbreviated Accounts |
For The Year Ended 30 September 2014 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, has been |
amortised over its estimated useful life of five years. |
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Tangible fixed assets |
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Rally cars | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
over the period of the lease. |
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Going concern |
The financial statements for the period ended 30 September 2014 have been prepared on a going |
concern basis. The directors continue to provide adequate working capital to meet the company's day |
to day requirements. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 October 2013 |
and 30 September 2014 |
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AMORTISATION |
At 1 October 2013 |
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Amortisation for year |
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At 30 September 2014 |
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NET BOOK VALUE |
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At 30 September 2014 |
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At 30 September 2013 |
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MS Motorsport Limited (Registered number: 07012568) |
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Notes to the Abbreviated Accounts - continued |
For The Year Ended 30 September 2014 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 October 2013 |
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Additions |
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At 30 September 2014 |
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DEPRECIATION |
At 1 October 2013 |
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Charge for year |
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At 30 September 2014 |
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NET BOOK VALUE |
At 30 September 2014 |
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At 30 September 2013 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.14 | 30.9.13 |
value: | £ | £ |
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Ordinary | 1 |
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