Abbreviated Company Accounts - WRS RACING LIMITED

WRS RACING LIMITED - Company Information

Registered Number 05749538

WRS RACING LIMITED

Abbreviated Accounts

31 March 2014

WRS RACING LIMITED Registered Number 05749538

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	17,898	-
		17,898	-
Current assets
Debtors		311,732	110,279
Cash at bank and in hand		9	-
		311,741	110,279
Creditors: amounts falling due within one year		(432,223)	(763,563)
Net current assets (liabilities)		(120,482)	(653,284)
Total assets less current liabilities		(102,584)	(653,284)
Creditors: amounts falling due after more than one year		(2,896,895)	(2,435,878)
Total net assets (liabilities)		(2,999,479)	(3,089,162)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(2,999,480)	(3,089,163)
Shareholders' funds		(2,999,479)	(3,089,162)

For the year ending 31 March 2014 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 30 December 2014

And signed on their behalf by:
R Stevens, Director

WRS RACING LIMITED Registered Number 05749538

Notes to the Abbreviated Accounts for the period ended 31 March 2014

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 is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for the performance of its obligations under the sales / sponsorship agreement with the customer.

Tangible assets depreciation policy
Fixtures, fittings & equipment - 15% per annum on cost

2Tangible fixed assets

	£
Cost
At 1 April 2013	-
Additions	21,056
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	21,056
Depreciation
At 1 April 2013	-
Charge for the year	3,158
On disposals	-
At 31 March 2014	3,158
Net book values
At 31 March 2014	17,898
At 31 March 2013	-