KG Motorsport Limited - Accounts to registrar (filleted) - small 17.3

KG Motorsport Limited - Accounts to registrar (filleted) - small 17.3

KG MOTORSPORT LIMITED - Company Information

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REGISTERED NUMBER: NI051990 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2017

for

KG Motorsport Limited
KG Motorsport Limited (Registered number: NI051990)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


KG Motorsport Limited

Company Information
for the Year Ended 31 March 2017







DIRECTOR: K Graffin





SECRETARY: McNicholl Ltd





REGISTERED OFFICE: 18 Market Road
Ballymena
BT43 6EL





REGISTERED NUMBER: NI051990 (Northern Ireland)





ACCOUNTANTS: J A McNicholl & Company Limited
18 Market Road
Ballymena
BT43 6EL
Page 1
KG Motorsport Limited (Registered number: NI051990)

Abridged Statement of Financial Position
31 March 2017

31.3.17 31.3.16
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 75,376 66,702

CURRENT ASSETS
Inventories 850,947 586,222
Debtors 3,964 112,514
Cash at bank and in hand 59,543 65
914,454 698,801
CREDITORS
Amounts falling due within one year 268,781 216,090
NET CURRENT ASSETS 645,673 482,711
TOTAL ASSETS LESS CURRENT
LIABILITIES
721,049
549,413

CREDITORS
Amounts falling due after more than
one year
117,500
240,053
NET ASSETS 603,549 309,360

The notes form part of these financial statements

Page 2 continued...
KG Motorsport Limited (Registered number: NI051990)

Abridged Statement of Financial Position - continued
31 March 2017

31.3.17 31.3.16
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 603,249 309,060
SHAREHOLDERS' FUNDS 603,549 309,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387
of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with
the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 October 2017 and were signed by:





K Graffin - Director


The notes form part of these financial statements

Page 3
KG Motorsport Limited (Registered number: NI051990)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

KG Motorsport Limited is a private company, limited by shares , registered in Northern
Ireland. The company's registered number and registered office address can be found on the
Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due
allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

Page 4 continued...
KG Motorsport Limited (Registered number: NI051990)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 April 2016 106,765
Additions 11,487
At 31 March 2017 118,252
DEPRECIATION
At 1 April 2016 40,063
Charge for year 2,813
At 31 March 2017 42,876
NET BOOK VALUE
At 31 March 2017 75,376
At 31 March 2016 66,702

Page 5