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Unaudited Financial Statements for the Year Ended 31 January 2022 |
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CTS Motorsport Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 January 2022 |
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CTS Motorsport Ltd |
CTS Motorsport Ltd (Registered number: 09941376) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CTS Motorsport Ltd |
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Company Information |
for the Year Ended 31 January 2022 |
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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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Unit 1, Sandars Road |
Heapham Rd Ind Estate |
Gainsborough |
Lincolnshire |
DN21 1RZ |
CTS Motorsport Ltd (Registered number: 09941376) |
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Balance Sheet |
31 January 2022 |
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31.1.22 | 31.1.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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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. |
CTS Motorsport Ltd (Registered number: 09941376) |
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Balance Sheet - continued |
31 January 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CTS Motorsport Ltd (Registered number: 09941376) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2022 |
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1. | STATUTORY INFORMATION |
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CTS Motorsport Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company has net liabilities at the period end.The directors, who are its principal creditors, are prepared to continue to support the company for the foreseeable future. The accounts have therefore been completed on a going concern basis. |
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Turnover |
Turnover represents amounts invoiced in respect of services rendered stated net of value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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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. Due to losses available to carry forward there is no liability. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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CTS Motorsport Ltd (Registered number: 09941376) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2022 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2021 |
and 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Trade debtors |
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VAT |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 94,712 | 76,329 |
Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.22 | 31.1.21 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors. At the balance sheet date the amount owed to the directors by the company was £94,712 (2021 - £76,329). |