Abbreviated Company Accounts - HUNTS KART RACING CLUB LIMITED

Abbreviated Company Accounts - HUNTS KART RACING CLUB LIMITED

HUNTS KART RACING CLUB LIMITED - Company Information

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Registered Number 01597143

HUNTS KART RACING CLUB LIMITED

Abbreviated Accounts

31 December 2015

HUNTS KART RACING CLUB LIMITED Registered Number 01597143

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 3 216,443 222,288
216,443 222,288
Current assets
Debtors 4,927 3,872
Cash at bank and in hand 141,270 130,052
146,197 133,924
Creditors: amounts falling due within one year (19,970) (9,209)
Net current assets (liabilities) 126,227 124,715
Total assets less current liabilities 342,670 347,003
Total net assets (liabilities) 342,670 347,003
Reserves
Income and expenditure account 342,670 347,003
Members' funds 342,670 347,003
  • For the year ending 31 December 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 28 September 2016

And signed on their behalf by:
Mr J Needham, Director

HUNTS KART RACING CLUB LIMITED Registered Number 01597143

Notes to the Abbreviated Accounts for the period ended 31 December 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 January 2015).

Turnover policy
Turnover represents the value of goods and services to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land and buildings - 5% to 10% straight line
Fixtures and equipment - 25% straight line
Motor vehicles - 25% straight line

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets
£
Cost
At 1 January 2015 575,424
Additions 30,271
Disposals -
Revaluations -
Transfers -
At 31 December 2015 605,695
Depreciation
At 1 January 2015 353,136
Charge for the year 36,116
On disposals -
At 31 December 2015 389,252
Net book values
At 31 December 2015 216,443
At 31 December 2014 222,288