Company registration number:
SC024440
The Scottish Motor Racing Club Ltd.
Company limited by guarantee
Unaudited filleted financial statements
31 December 2021
The Scottish Motor Racing Club Ltd.
Company limited by guarantee
Contents
Directors and other information
Accountants report
Statement of financial position and notes to the financial statements
The Scottish Motor Racing Club Ltd.
Company limited by guarantee
Directors and other information
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Directors
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B Buss
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V J S Covey
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K J N Pick
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M How
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M McNab
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G Brunton
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G Davies
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H McCaig
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A L Morrison
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S Burns
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J J Duncan
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G M Alcock
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R D E S Burrell
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Company number
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SC024440
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Registered office
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16 - 18 Weir Street
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Falkirk
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FK1 1RA
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Business address
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C/O
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Knockhill Racing Circuit
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Dunfermline
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Fife
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KY12 9TF
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Accountants
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Barrie Scott & Co.
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16-18 Weir Street
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Falkirk
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FK1 1RA
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The Scottish Motor Racing Club Ltd.
Company limited by guarantee
Report to the board of directors on the preparation of the
unaudited statutory financial statements of The Scottish Motor Racing Club Ltd.
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Scottish Motor Racing Club Ltd. for the year ended 31 December 2021 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of The Scottish Motor Racing Club Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Scottish Motor Racing Club Ltd. and state those matters that we have agreed to state to the board of directors of The Scottish Motor Racing Club Ltd. as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Scottish Motor Racing Club Ltd. and its board of directors as a body for our work or for this report.
It is your duty to ensure that The Scottish Motor Racing Club Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Scottish Motor Racing Club Ltd.. You consider that The Scottish Motor Racing Club Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Scottish Motor Racing Club Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Barrie Scott & Co.
Accountants & Tax Advisers
16-18 Weir Street
Falkirk
FK1 1RA
5 October 2022
The Scottish Motor Racing Club Ltd.
Company limited by guarantee
Statement of financial position
31 December 2021
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2021
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2020
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£
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£
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Fixed assets
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286,709
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143,843
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Current assets
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250,668
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340,788
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Creditors: amounts falling due within one year
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-
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(
712)
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Net current assets
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250,668
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340,076
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Total assets less current liabilities
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537,377
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483,919
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Accruals and deferred income
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(
2,700)
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(
2,941)
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_______
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Net assets
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534,677
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480,978
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Capital and reserves
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534,677
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480,978
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Notes to the financial statements
The Scottish Motor Racing Club Ltd.
Company limited by guarantee
Year ended 31 December 2021
1.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2020:
1
).
2.
Going concern
These accounts have been prepared on a Going concern basis. The directors have reviewed the situation regarding the Coronavirus pandemic and are of the opinion that the company has adequate resources to continue for the foreseeable future.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsiblities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the
board of directors
and authorised for issue on
23 March 2022
, and are signed on behalf of the board by:
V J S Covey
Director
Company registration number:
SC024440
The company is a private company limited by guarantee, registered in Scotland.