KG Motorsport Limited - Accounts to registrar (filleted) - small 18.2

KG Motorsport Limited - Accounts to registrar (filleted) - small 18.2

KG MOTORSPORT LIMITED - Company Information

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REGISTERED NUMBER: NI051990 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2018

for

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






Contents of the Financial Statements
for the Year Ended 31 March 2018




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 2018







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 2018

31.3.18 31.3.17
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 73,345 75,376

CURRENT ASSETS
Inventories 824,584 850,947
Debtors 32,330 3,964
Cash at bank and in hand 803 59,543
857,717 914,454
CREDITORS
Amounts falling due within one year 293,494 268,781
NET CURRENT ASSETS 564,223 645,673
TOTAL ASSETS LESS CURRENT
LIABILITIES
637,568
721,049

CREDITORS
Amounts falling due after more than
one year
56,448
117,500
NET ASSETS 581,120 603,549

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 2018

31.3.18 31.3.17
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 580,820 603,249
SHAREHOLDERS' FUNDS 581,120 603,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 2018 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 11 October 2018 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 2018

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 5 (2017 - 4 ) .

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

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 April 2017 118,252
Additions 275
At 31 March 2018 118,527
DEPRECIATION
At 1 April 2017 42,876
Charge for year 2,306
At 31 March 2018 45,182
NET BOOK VALUE
At 31 March 2018 73,345
At 31 March 2017 75,376

Page 5