CG Racing Limited - Accounts to registrar (filleted) - small 18.2
CG Racing Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 November 2021 |
| for |
| CG Racing Limited |
| CG Racing Limited (Registered number: 09334229) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CG Racing Limited |
| Company Information |
| for the Year Ended 30 November 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Registered Auditors |
| 2nd Floor, Woodside House |
| 261 Low Lane |
| Horsforth |
| Leeds |
| West Yorkshire |
| LS18 5NY |
| CG Racing Limited (Registered number: 09334229) |
| Balance Sheet |
| 30 November 2021 |
| 30.11.21 | 30.11.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non-distributable reserve | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| CG Racing Limited (Registered number: 09334229) |
| Balance Sheet - continued |
| 30 November 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| CG Racing Limited (Registered number: 09334229) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2021 |
| 1. | STATUTORY INFORMATION |
| CG Racing Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts are prepared on a going concern basis due to the continued support of the shareholders and directors. |
| Turnover |
| Turnover represents net invoiced advertising revenue, excluding any value added tax. The company obtains the right to consideration once the sponsorship agreement has been signed. |
| Tangible fixed assets |
| Tools & equipment | - |
| Drivers equipment | - |
| Motor vehicles | - |
| Financial instruments |
| Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
| 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. |
| Current or deferred taxation assets and liabilities are not discounted. |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 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. |
| CG Racing Limited (Registered number: 09334229) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2021 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Tools & | Drivers | Motor |
| equipment | equipment | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 December 2020 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 November 2021 |
| DEPRECIATION |
| At 1 December 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 November 2021 |
| NET BOOK VALUE |
| At 30 November 2021 |
| At 30 November 2020 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 December 2020 |
| Disposals | ( |
) |
| At 30 November 2021 |
| NET BOOK VALUE |
| At 30 November 2021 |
| At 30 November 2020 |
| The fixed asset investments are semi classic cars, which are shown at market value. These are not depreciated as they are deemed to appreciate in value. |
| CG Racing Limited (Registered number: 09334229) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.21 | 30.11.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.21 | 30.11.20 |
| £ | £ |
| Hire purchase contracts |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.11.21 | 30.11.20 |
| £ | £ |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Hire purchase | - | 17,296 |
| 9. | RESERVES |
| Non-distribu |
| reserve |
| £ |
| At 1 December 2020 |
| No description | (4,000 | ) |
| At 30 November 2021 |