Vonryanracing Limited,Ltd - AccountsLtd - Accounts

Vonryanracing Limited,Ltd - AccountsLtd - Accounts

VONRYANRACING LIMITED - Company Information

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2020-01-01 07553792 2020-12-31 07553792 2020-01-01 2020-12-31 07553792 2019-12-31 07553792 2019-01-01 2019-12-31 07553792 uk-core:WithinOneYear 2019-12-31 07553792 uk-core:WithinOneYear 2020-12-31 07553792 uk-core:ShareCapital 2020-12-31 07553792 uk-core:ShareCapital 2019-12-31 07553792 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 07553792 uk-core:RetainedEarningsAccumulatedLosses 2019-12-31 07553792 uk-bus:Director1 2020-01-01 2020-12-31 07553792 uk-core:PlantMachinery 2020-01-01 2020-12-31 07553792 uk-core:FurnitureFittings 2020-01-01 2020-12-31 07553792 uk-core:FurnitureFittings 2019-12-31 07553792 uk-core:PlantMachinery 2019-12-31 07553792 uk-core:PlantMachinery 2020-12-31 07553792 uk-core:FurnitureFittings 2020-12-31 iso4217:GBP xbrli:pure 07553792 uk-bus:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 07553792 uk-bus:FRS102 2020-01-01 2020-12-31 07553792 uk-bus:FullAccounts 2020-01-01 2020-12-31 07553792 uk-bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31
Vonryanracing Limited
Registered Number:07553792
For the year ended 31 December 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2020
Vonryanracing Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
07553792
As at 31 December 2020
Vonryanracing Limited
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
25,824
32,281
2
25,824
32,281
Current assets
Inventories
500
420
3
Trade and other receivables
26,138
20,184
4
160,470
Cash and cash equivalents
76,851
97,455
187,108
Trade and other payables: amounts falling due within one year
(65,265)
(30,098)
5
121,843
67,357
Net current assets
Total assets less current liabilities
93,181
154,124
93,181
Net assets
154,124
Capital and reserves
Called up share capital
10,000
10,000
Retained earnings
83,181
144,124
93,181
154,124
Shareholders' funds
For the year ended 31 December 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
D Ryan Director
These financial statements were approved and authorised for issue by the Board on 01 March 2021 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2020
Vonryanracing Limited
Notes to the Financial Statements
Statutory Information
Vonryanracing Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
07553792.
Principal place of business:
Upper Bonhurst
Birtley Rod
Bramley
Guilford
GU5 0LA
Registered address:
Hawthorn House
Medlicott Close
Corby
Northants
NN18 9NF
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20 Reducing balance
20 Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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5
For the year ended 31 December 2020
Vonryanracing Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Plant and
machinery
£
£
£
Cost or valuation
At 01 January 2020
62,381
5,352
57,029
At 31 December 2020
57,029
5,352
62,381
Provision for depreciation and impairment
At 01 January 2020
30,100
2,959
27,141
Charge for year
6,457
479
5,978
At 31 December 2020
36,557
3,438
33,119
At 31 December 2020
Net book value
23,910
1,914
25,824
At 31 December 2019
29,888
2,393
32,281
3. Inventories
2019
2020
£
£
Stocks
420
500
4. Trade and other receivables
2019
2020
£
£
Trade debtors
-
24,708
Prepayments and accrued income
453
485
Other debtors
19,731
945
26,138
20,184
5. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Taxation and social security
27,298
48,357
Accruals and deferred income
2,800
3,200
Other creditors
-
13,708
30,098
65,265
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6
For the year ended 31 December 2020
Vonryanracing Limited
Notes to the Financial Statements Continued
6. Related party transactions
The company paid dividends of £133000 to the directors, in the year under review.
7. Guarantees and other financial commitments
Capital commitments
There were no commitments for future capital expenditure at the balance sheet date.
8. Subsequent events
No post balance sheet events have occurred since 31 December 2020, which require reporting or disclosing in the accounts.
9. Average number of persons employed
During the year the average number of employees (including director) was 2 (2019 : 2)
4 of 4