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REGISTERED NUMBER: 03312873 (England and Wales)










Motion Europe Ltd

Unaudited Financial Statements

for the Year Ended 28 February 2023






Motion Europe Ltd (Registered number: 03312873)






Contents of the Financial Statements
for the year ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Motion Europe Ltd

Company Information
for the year ended 28 February 2023







DIRECTORS: Ms N Grossmann
Ms A Nepi





SECRETARY: Ms A Nepi





REGISTERED OFFICE: Jhumat House Suite 405, 4th Floor
160 London Road
Barking
IG11 8BB





REGISTERED NUMBER: 03312873 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Motion Europe Ltd (Registered number: 03312873)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 46,189 48,114
Tangible assets 5 8,911 2,926
55,100 51,040

CURRENT ASSETS
Debtors 6 614,431 489,696
Cash at bank 1,392,821 958,063
2,007,252 1,447,759
CREDITORS
Amounts falling due within one year 7 1,194,341 1,406,105
NET CURRENT ASSETS 812,911 41,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

868,011

92,694

CREDITORS
Amounts falling due after more than one
year

8

(28,623

)

(38,945

)

PROVISIONS FOR LIABILITIES (1,693 ) -
NET ASSETS 837,695 53,749

CAPITAL AND RESERVES
Called up share capital 31 31
Revaluation reserve 9 54,675 54,675
Capital redemption reserve 69 69
Retained earnings 782,920 (1,026 )
837,695 53,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Motion Europe Ltd (Registered number: 03312873)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 30 September 2023 and were signed on its behalf by:





Ms A Nepi - Director


Motion Europe Ltd (Registered number: 03312873)

Notes to the Financial Statements
for the year ended 28 February 2023

1. STATUTORY INFORMATION

Motion Europe Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of twenty five years.

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 etc - 15% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 7 (2022 - 3 ) .

Motion Europe Ltd (Registered number: 03312873)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 54,675
AMORTISATION
At 1 March 2022 6,561
Charge for year 1,925
At 28 February 2023 8,486
NET BOOK VALUE
At 28 February 2023 46,189
At 28 February 2022 48,114

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 15,006
Additions 8,558
At 28 February 2023 23,564
DEPRECIATION
At 1 March 2022 12,080
Charge for year 2,573
At 28 February 2023 14,653
NET BOOK VALUE
At 28 February 2023 8,911
At 28 February 2022 2,926

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 115,091 386,221
Other debtors 499,340 103,475
614,431 489,696

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,000 9,000
Prepaid Income 818,231 1,210,474
Trade creditors 12,797 7,212
Taxation and social security 291,335 9,500
Other creditors 62,978 169,919
1,194,341 1,406,105

Motion Europe Ltd (Registered number: 03312873)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 28,623 38,945

9. RESERVES
Revaluation
reserve
£   
At 1 March 2022
and 28 February 2023 54,675

10. RELATED PARTY DISCLOSURES

One of the directors loaned money to the company on an unsecured loan basis repayable on demand. The loan carries an interest rate of 9.39%. During the year interest was paid in relation to the loan totalling £4,788 (2022: £4,492). The amount owing at the beginning of the year was £50,990 with £50,990 owing at the end of the year.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ms A Nepi.