Road & Race Ltd

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Registered number: 09771810

Road & Race Ltd

Abbreviated accounts

For the Period 10 September 2015 to 30 September 2016

Road & Race Ltd

Company No. 09771810

Abbreviated Balance Sheet 30 September 2016

Abbreviated Balance Sheet

		Period to 30 September 2016
	Notes	£	£
FIXED ASSETS
Intangible Assets	2		28,000
Tangible Assets	3		29,600

			57,600
CURRENT ASSETS
Stocks		9,940
Debtors		94
Cash at bank and in hand		2,088

		12,122
Creditors: Amounts Falling Due Within One Year		(71,169 )

NET CURRENT ASSETS (LIABILITIES)			(59,047 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(1,447 )

NET ASSETS			(1,447 )

CAPITAL AND RESERVES
Called up share capital	4		1
Profit and Loss Account			(1,448 )

SHAREHOLDERS' FUNDS			(1,447 )

Road & Race Ltd

Company No. 09771810

Abbreviated Balance Sheet (continued) 30 September 2016

For the period ending 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Jason Wilkes

28/04/2017

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Road & Race Ltd

Notes to the Abbreviated Accounts

For the Period 10 September 2015 to 30 September 2016

Notes to the Abbreviated Accounts

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% reducing balance
Motor Vehicles	20% reducing balance

1.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2. Intangible Assets


	Total
Cost	£
As at 10 September 2015	-
Additions	35,000

As at 30 September 2016	35,000

Amortisation
As at 10 September 2015	-
Provided during the period	7,000

As at 30 September 2016	7,000

Net Book Value
As at 30 September 2016	28,000

As at 10 September 2015	-

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Road & Race Ltd

Notes to the Abbreviated Accounts (continued)

For the Period 10 September 2015 to 30 September 2016

3. Tangible Assets


	Total
Cost	£
As at 10 September 2015	-
Additions	37,000

As at 30 September 2016	37,000

Depreciation
As at 10 September 2015	-
Provided during the period	7,400

As at 30 September 2016	7,400

Net Book Value
As at 30 September 2016	29,600

As at 10 September 2015	-

4. Share Capital

	Value	Number	Period to 30 September 2016
Allotted, called up and fully paid	£		£
Ordinary shares	1.000	1	1

	Nominal value	Number	Amount

Shares issued during the period:	£		£
Ordinary shares	1.000	1	1

5. Ultimate Controlling Party

The company's ultimate controlling party is Mr J Wilkes by virtue of his ownership of 100% of the issued share capital in the company.

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