REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 October 2020 |
|
for |
|
Gridline Racing Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 October 2020 |
|
for |
|
Gridline Racing Limited |
Gridline Racing Limited (Registered number: 05880344) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 October 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Gridline Racing Limited |
|
Company Information |
for the Year Ended 31 October 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Unit 1, Sandars Road |
Heapham Rd Ind Estate |
Gainsborough |
Lincolnshire |
DN21 1RZ |
Gridline Racing Limited (Registered number: 05880344) |
|
Balance Sheet |
31 October 2020 |
|
31.10.20 | 31.10.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The directors acknowledge their 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. |
Gridline Racing Limited (Registered number: 05880344) |
|
Balance Sheet - continued |
31 October 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
Gridline Racing Limited (Registered number: 05880344) |
|
Notes to the Financial Statements |
for the Year Ended 31 October 2020 |
|
1. | STATUTORY INFORMATION |
|
Gridline Racing Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
|
Tangible fixed assets |
|
Freehold property | - |
|
Improvements to property | - |
|
Plant and machinery | - |
|
Fixtures, fittings and equipment | - |
|
Motor vehicles | - |
|
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
|
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
Gridline Racing Limited (Registered number: 05880344) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2020 |
|
4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 November 2019 |
|
|
|
Additions |
|
|
|
At 31 October 2020 |
|
|
|
DEPRECIATION |
At 1 November 2019 |
|
|
|
Charge for year |
|
|
|
At 31 October 2020 |
|
|
|
NET BOOK VALUE |
At 31 October 2020 |
|
|
|
At 31 October 2019 |
|
|
|
|
Fixtures, |
fittings |
and | Motor |
equipment | vehicles | Totals |
£ | £ | £ |
COST |
At 1 November 2019 |
|
|
|
Additions |
|
|
|
At 31 October 2020 |
|
|
|
DEPRECIATION |
At 1 November 2019 |
|
|
|
Charge for year |
|
|
|
At 31 October 2020 |
|
|
|
NET BOOK VALUE |
At 31 October 2020 |
|
|
|
At 31 October 2019 |
|
|
|
Gridline Racing Limited (Registered number: 05880344) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2020 |
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 November 2019 |
and 31 October 2020 |
|
DEPRECIATION |
At 1 November 2019 |
|
Charge for year |
|
At 31 October 2020 |
|
NET BOOK VALUE |
At 31 October 2020 |
|
At 31 October 2019 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.20 | 31.10.19 |
£ | £ |
Prepayments |
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.20 | 31.10.19 |
£ | £ |
Bank loans and overdrafts |
|
|
Mortgage |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
VAT | 29,530 | 17,132 |
Directors' current accounts | 14,436 | 80,814 |
Accrued expenses |
|
|
|
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.10.20 | 31.10.19 |
£ | £ |
Bank loans - 1-2 years |
|
|
Bank loans - 2-5 years |
|
|
Mortgage |
|
|
Funding circle 1-5 years | 74,586 | 98,933 |
Hire purchase contracts |
|
|
|
|
Gridline Racing Limited (Registered number: 05880344) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2020 |
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31.10.20 | 31.10.19 |
£ | £ |
Mortgage |
|
|
Hire purchase contracts | 10,960 | 14,181 |
Funding circle | 98,932 | 120,694 |
|
|
|
9. | ULTIMATE CONTROLLING PARTY |
|
The company is controlled by its directors. At the balance sheet date the amount owed by the company to the directors was £14,436 (2019 - £80,814). |