Abbreviated Company Accounts - MOTORSPORT WORLDWIDE LIMITED

MOTORSPORT WORLDWIDE LIMITED - Company Information

06439863 MOTORSPORT WORLDWIDE LIMITED 2016-11-30 false 2015-12-01 2016-11-30 true 06439863 2015-12-01 2016-11-30 06439863 2016-11-30 06439863 2015-11-30 06439863 uk-gaap-cd-bus:Director1 2015-12-01 2016-11-30 06439863 uk-gaap-cd-bus:Director2 2015-12-01 2016-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-01 2016-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-11-30 iso4217:GBP shares

Registered Number 06439863

MOTORSPORT WORLDWIDE LIMITED

Abbreviated Accounts

30 November 2016

MOTORSPORT WORLDWIDE LIMITED Registered Number 06439863

Abbreviated Balance Sheet as at 30 November 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	8,332	5,859
		8,332	5,859
Current assets
Debtors		134,318	218,749
Cash at bank and in hand		736,076	468,769
		870,394	687,518
Creditors: amounts falling due within one year		(433,568)	(419,817)
Net current assets (liabilities)		436,826	267,701
Total assets less current liabilities		445,158	273,560
Total net assets (liabilities)		445,158	273,560
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		445,058	273,460
Shareholders' funds		445,158	273,560

For the year ending 30 November 2016 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 10 May 2017

And signed on their behalf by:
D Bois, Director

MOTORSPORT WORLDWIDE LIMITED Registered Number 06439863

Notes to the Abbreviated Accounts for the period ended 30 November 2016

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 represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 25% reducing balance

Other accounting policies
Foreign currencies - Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the individual transaction. All exchange rate differences are taken to the profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 December 2015	7,812
Additions	5,250
Disposals	-
Revaluations	-
Transfers	-
At 30 November 2016	13,062
Depreciation
At 1 December 2015	1,953
Charge for the year	2,777
On disposals	-
At 30 November 2016	4,730
Net book values
At 30 November 2016	8,332
At 30 November 2015	5,859

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100