| Merlin Motor Racing limited |
| Registered number: |
03663832 |
| Abbreviated Balance Sheet |
| as at 30 November 2013 |
|
| Notes |
|
|
2013 |
|
|
2012 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
7,777 |
|
|
4,841 |
|
| Current assets |
| Stocks |
|
|
37,631 |
|
|
35,633 |
| Debtors |
|
|
70,552 |
|
|
50,329 |
| Cash at bank and in hand |
|
|
3,765 |
|
|
4,173 |
|
|
|
111,948 |
|
|
90,135 |
|
| Creditors: amounts falling due within one year |
|
|
(145,212) |
|
|
(173,119) |
|
| Net current liabilities |
|
|
|
(33,264) |
|
|
(82,984) |
|
| Net liabilities |
|
|
|
(25,487) |
|
|
(78,143) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
140,000 |
|
|
140,000 |
| Profit and loss account |
|
|
|
(165,487) |
|
|
(218,143) |
|
| Shareholders' funds |
|
|
|
(25,487) |
|
|
(78,143) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mr R Manzie |
| Director |
| Approved by the board on 21 August 2014 |
|
| Merlin Motor Racing limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 November 2013 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20% straight line |
|
Motor vehicles |
25% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Foreign currencies |
|
The accounts have been prepared on a going concern basis which assumes the continued support of the company's director, shareholder and creditors. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 December 2012 |
79,621 |
|
Additions |
7,745 |
|
At 30 November 2013 |
87,366 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2012 |
74,780 |
|
Charge for the year |
4,809 |
|
At 30 November 2013 |
79,589 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2013 |
7,777 |
|
At 30 November 2012 |
4,841 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2013 |
|
2013 |
|
2012 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
A Ordinary shares |
£1 each |
|
100,000 |
|
100,000 |
|
100,000 |
|
B Ordinary shares |
10p each |
|
400,000 |
|
40,000 |
|
40,000 |
|
|
|
|
|
|
140,000 |
|
140,000 |
|
|
|
|
|
|
|
|
|
