Michael Caine Motorsport Ltd. - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06037379 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Michael Caine Motorsport Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Caine

SECRETARY:

REGISTERED OFFICE:

The Barn, Duck End

Offord Road

Graveley

St Neots

Cambridgeshire

PE19 6PP

REGISTERED NUMBER:

06037379 (England and Wales)

ACCOUNTANTS:

John Wheeler Accountancy Ltd

The Barn

Duck End

Offord Road, Graveley

St Neots

Cambridgeshire

PE19 6PP

FIXED ASSETS

Tangible assets

4

205,527

208,200

CURRENT ASSETS

Stocks

195,299

334,207

Debtors

5

151,673

177,134

Cash at bank and in hand

284,097

323,766

631,069

835,107

CREDITORS

Amounts falling due within one year

6

414,342

642,497

NET CURRENT ASSETS

216,727

192,610

TOTAL ASSETS LESS CURRENT LIABILITIES

422,254

400,810

CREDITORS

Amounts falling due after more than one year

7

2,040

4,223

NET ASSETS

420,214

396,587

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

420,212

396,585

SHAREHOLDERS' FUNDS

420,214

396,587

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 21 August 2018 and were signed by:

M Caine - Director

1.	STATUTORY INFORMATION

Michael Caine Motorsport Ltd. is a private company, limited by shares , registered in England and Wales. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 cost

Stocks

Stocks 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 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2017

88,217

17,616

392

295,590

401,815

Additions

-

-

121

26,532

26,653

At 31 December 2017

88,217

17,616

513

322,122

428,468

DEPRECIATION

At 1 January 2017

-

8,457

335

184,823

193,615

Charge for year

-

1,832

35

27,459

29,326

At 31 December 2017

-

10,289

370

212,282

222,941

NET BOOK VALUE

At 31 December 2017

88,217

7,327

143

109,840

205,527

At 31 December 2016

88,217

9,159

57

110,767

208,200

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

47,258

55,292

Other debtors

104,415

121,842

151,673

177,134

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

(6,957

)

181,684

Taxation and social security

10,105

16,394

Other creditors

411,194

444,419

414,342

642,497

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Hire purchase contracts

2,040

4,223