Accounts filed on 31-07-2021


ACCOUNTS
FOR THE YEAR ENDED 31/07/2021





DIRECTORS
Stephen Chapman
Gary Chapman
Timothy Gillard


REGISTERED OFFICE
11 Baines Way
Grange Park
Northampton
Northamptonshire
NN4 5DP


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 08129071



ACCOUNTANTS
Balmer Limited
Whiteleaf Business Centre
11 Little Balmer
Buckingham
MK18 1TF


ACCOUNTS
FOR THEYEARENDED31/07/2021



CONTENTS



		Page

Directors' Report		-

Accountants' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31/07/2021

			2021		2020
	Notes		£		£


CURRENT ASSETS
Stock		7,475		4,713
Debtors	4	2,807		1,372
Cash at bank and in hand		943		1,621
		11,225		7,706
CREDITORS: Amounts falling due within one year	5	59,692		58,310
NET CURRENT LIABILITIES			(48,467)		(50,604)
TOTAL ASSETS LESS CURRENT LIABILITIES			(48,467)		(50,604)

CAPITAL AND RESERVES

Called up share capital	6		3		3
Profit and loss account			(48,470)		(50,607)
SHAREHOLDERS' FUNDS			(48,467)		(50,604)

For the year ending 31/07/2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 02/03/2022 and signed on their behalf by



.............................
Stephen Chapman
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .




1b. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1c. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.




4. DEBTORS	2021	2020
	£	£
Amounts falling due within one year
Trade debtors	2,807	1,000
Other debtors	-	372
	2,807	1,372




5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2021	2020
	£	£
VAT	-	487
Directors current account	58,732	57,098
Accruals	960	725
	59,692	58,310




6. SHARE CAPITAL	2021	2020
	£	£
Allotted, issued and fully paid:
3 Ordinary shares of £1 each	3	3
	3	3




7. POST BALANCE SHEET EVENTS
The company's previous name, CGC Karting Limited, was changed to Tyro Karting Limited on 03 August 2021.