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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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RYAN POTTER RACING LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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FOR |
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RYAN POTTER RACING LTD |
RYAN POTTER RACING LTD (REGISTERED NUMBER: 12200842) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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RYAN POTTER RACING LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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6 Manor Park Business Centre |
Mackenzie Way |
Cheltenham |
Gloucestershire |
GL51 9TX |
RYAN POTTER RACING LTD (REGISTERED NUMBER: 12200842) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION |
30 SEPTEMBER 2021 |
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30.9.21 | 30.9.20 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
( |
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( |
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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 director acknowledges his 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. |
RYAN POTTER RACING LTD (REGISTERED NUMBER: 12200842) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
30 SEPTEMBER 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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RYAN POTTER RACING LTD (REGISTERED NUMBER: 12200842) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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Ryan Potter Racing Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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In the later stages of the financial year and subsequently, the company's ability to generate profits and cash has been severely restricted by the outbreak of the covid-19 pandemic and its associated lockdown rules. The directors have considered the working capital requirements of the company for a period of at least twelve months from the date of approval of these financial statements, taking account of the ongoing uncertainties created by the pandemic. In the period before it can recommence activities to the point of generating profits and cash from customers, the company relies on the ongoing support of its directors and the government to enable it to continue to operate. |
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Whilst government support remains limited, the directors have confirmed that they will not withdraw their funds to the detriment of other unsecured creditors and will introduced sufficient additional funds to enable to company to meet overhead costs as they fall due. As a result, the directors consider the company to be a going concern and have produced the financial statements on that basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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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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RYAN POTTER RACING LTD (REGISTERED NUMBER: 12200842) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2020 |
and 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.9.21 | 30.9.20 |
£ | £ |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
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6. | RELATED PARTY DISCLOSURES |
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R D Potter |
Director and shareholder of the company |
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In a previous period, Mr Potter lent the company £3,486 as working capital. During the year, the director lent the company a further-£5,378. The amount due to Mr Potter at the year end was £8,864 (2020: £3,486). This amount is unsecured, interest-free and repayable on demand. |
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30.9.21 | 30.9.20 |
£ | £ |
Amount due to related party at the balance sheet date | 8,864 | 3,486 |
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Miss E H Yardley |
Director and shareholder of the company |
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In a previous period, Miss Yardley lent the company £5,511 as working capital. During the year, the company repaid the Miss Yardley in full. The amount due to Miss Yardley at the year end was £nil (2020: £5,511). |
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30.9.21 | 30.9.20 |
£ | £ |
Amount due to related party at the balance sheet date | - | 5,511 |