MICHAEL COLLINS RACING LIMIT - Accounts 2014

MICHAEL COLLINS RACING LIMIT - Accounts 2014

MICHAEL COLLINS RACING LIMITED - Company Information

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2013-05-012014-04-3003181311falsetruehttp://www.companieshouse.gov.uk/cd:Director12013-05-012014-04-30http://www.companieshouse.gov.uk/pt:FixturesFittings2013-04-30http://www.companieshouse.gov.uk/pt:FixturesFittings2014-04-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-05-012014-04-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12014-04-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-04-30http://www.companieshouse.gov.uk/pt:FixturesFittings2013-05-012014-04-30http://www.companieshouse.gov.uk/2012-05-012013-04-30http://www.companieshouse.gov.uk/2013-05-012014-04-30http://www.companieshouse.gov.uk/2013-04-30http://www.companieshouse.gov.uk/2014-04-30http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2013-05-012014-04-30http://www.companieshouse.gov.uk/2013-04-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 03181311
MICHAEL COLLINS RACING LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30/04/2014
Prepared By:
Mrs G F Norris
Accountant
11 Bletchley Road
Newton Longville
Milton Keynes
MK17 0AE

MICHAEL COLLINS RACING LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30/04/2014
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 03181311

MICHAEL COLLINS RACING LIMITED
Registered Number: 03181311
BALANCE SHEET AT 30/04/2014
20142013
Notes££
FIXED ASSETS
Tangible assets239193
CURRENT ASSETS
Debtors (amounts falling due within one year)3-13
Cash at bank and in hand12,83829,681
12,83829,694
CREDITORS: Amounts falling due within one year9,25413,692
NET CURRENT ASSETS3,58416,002
TOTAL ASSETS LESS CURRENT LIABILITIES3,62316,195
CREDITORS: Amounts falling due after more than one year43,000-
NET ASSETS62316,195
CAPITAL AND RESERVES
Called up share capital522
Profit and loss account62116,193
SHAREHOLDERS' FUNDS62316,195
For the year ending 30/04/2014 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 15/01/2015 and signed on their behalf by
Michael COLLINS
Director

MICHAEL COLLINS RACING LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/04/2014
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsreducing balance 20%
1d. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

MICHAEL COLLINS RACING LIMITED
2. TANGIBLE FIXED ASSETS
Fixtures
and FittingsTotal
££
Cost
At 01/05/20133,8773,877
At 30/04/20143,8773,877
Depreciation
At 01/05/20133,6843,684
For the year154154
At 30/04/20143,8383,838
Net Book Amounts
At 30/04/20143939
At 30/04/2013193193
3. DEBTORS 20142013
££
Amounts falling due within one year:
Other Tax-13
-13
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20142013
££
Bank loans and overdrafts3,000-
3,000-

MICHAEL COLLINS RACING LIMITED
5. SHARE CAPITAL 20142013
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22