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REGISTERED NUMBER: 06303748 (England and Wales)















A S Motorsport Limited

Unaudited Financial Statements

for the Year Ended

31st July 2017






A S Motorsport Limited (Registered number: 06303748)

Contents of the Financial Statements
for the Year Ended 31st July 2017










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


A S Motorsport Limited

Company Information
for the Year Ended 31st July 2017







DIRECTOR: A Soar





SECRETARY: Ms J Soar





REGISTERED OFFICE: 8 Hopper Way
Diss Business Park
Diss
Norfolk
IP22 4GT





REGISTERED NUMBER: 06303748 (England and Wales)





ACCOUNTANTS: Haines Watts
8 Hopper Way
Diss
Norfolk
IP22 4GT

A S Motorsport Limited (Registered number: 06303748)

Balance Sheet
31st July 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 81,841 60,744

CURRENT ASSETS
Stocks 211,066 100,000
Debtors 4 17,155 17,017
Cash at bank 7,023 44,070
235,244 161,087
CREDITORS
Amounts falling due within one year 5 236,273 76,023
NET CURRENT (LIABILITIES)/ASSETS (1,029 ) 85,064
TOTAL ASSETS LESS CURRENT LIABILITIES 80,812 145,808

CREDITORS
Amounts falling due after more than one
year

6

-

(104,687

)

PROVISIONS FOR LIABILITIES (26,162 ) (22,149 )
NET ASSETS 54,650 18,972

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 54,649 18,971
SHAREHOLDERS' FUNDS 54,650 18,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2017 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.

A S Motorsport Limited (Registered number: 06303748)

Balance Sheet - continued
31st July 2017


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.

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 19th April 2018 and were signed by:





A Soar - Director


A S Motorsport Limited (Registered number: 06303748)

Notes to the Financial Statements
for the Year Ended 31st July 2017


1. STATUTORY INFORMATION

A S Motorsport Limited is a private company, limited by shares , registered in England and Wales. 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 is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due
allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs
in bringing stocks to their present location and condition.

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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different
from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and
laws that have been enacted or substantively enacted by the year end and that are expected to apply to the
reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

A S Motorsport Limited (Registered number: 06303748)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2017


3. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st August 2016 114,492 2,409 116,901
Additions 34,537 940 35,477
At 31st July 2017 149,029 3,349 152,378
DEPRECIATION
At 1st August 2016 54,297 1,860 56,157
Charge for year 14,164 216 14,380
At 31st July 2017 68,461 2,076 70,537
NET BOOK VALUE
At 31st July 2017 80,568 1,273 81,841
At 31st July 2016 60,195 549 60,744

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Other debtors 17,155 17,017

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 7,230 13,958
Taxation and social security 5,143 5,745
Other creditors 223,900 56,320
236,273 76,023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2017 2016
£    £   
Other creditors - 104,687

7. RELATED PARTY DISCLOSURES

At the year end the company owes the director £122,485 (2016 - £104,687) relating to an interest free loan
with no set repayment terms.