Abbreviated Company Accounts - WRS RACING LIMITED

Abbreviated Company Accounts - WRS RACING LIMITED

WRS RACING LIMITED - Company Information

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Registered Number 05749538

WRS RACING LIMITED

Abbreviated Accounts

31 March 2015

WRS RACING LIMITED Registered Number 05749538

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 14,740 17,898
14,740 17,898
Current assets
Debtors - 311,732
Cash at bank and in hand 1 9
1 311,741
Creditors: amounts falling due within one year 0 (432,223)
Net current assets (liabilities) 1 (120,482)
Total assets less current liabilities 14,741 (102,584)
Creditors: amounts falling due after more than one year (3,063,321) (2,896,895)
Total net assets (liabilities) (3,048,580) (2,999,479)
Capital and reserves
Called up share capital 1 1
Profit and loss account (3,048,581) (2,999,480)
Shareholders' funds (3,048,580) (2,999,479)
  • For the year ending 31 March 2015 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 May 2016

And signed on their behalf by:
R Stevens, Director

WRS RACING LIMITED Registered Number 05749538

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for the performance of its obligations under the sales/sponsorship agreement with the client.

Tangible assets depreciation policy
Fixtures, fittings & equipment - 15% per annum on cost

2Tangible fixed assets
£
Cost
At 1 April 2014 21,056
Additions -
Disposals -
Revaluations -
Transfers -
At 31 March 2015 21,056
Depreciation
At 1 April 2014 3,158
Charge for the year 3,158
On disposals -
At 31 March 2015 6,316
Net book values
At 31 March 2015 14,740
At 31 March 2014 17,898