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COMPANY REGISTRATION NUMBER: 05022464
MOTOHIRE (UK) LTD
Filleted Unaudited Financial Statements
31 January 2023
MOTOHIRE (UK) LTD
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
30,394
37,993
Current assets
Debtors
6
3,087
2,832
Cash at bank and in hand
961
2,852
-------
-------
4,048
5,684
Creditors: amounts falling due within one year
7
265,821
253,073
---------
---------
Net current liabilities
261,773
247,389
---------
---------
Total assets less current liabilities
( 231,379)
( 209,396)
Creditors: amounts falling due after more than one year
8
4,012
5,607
---------
---------
Net liabilities
( 235,391)
( 215,003)
---------
---------
MOTOHIRE (UK) LTD
Statement of Financial Position (continued)
31 January 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 235,392)
( 215,004)
---------
---------
Shareholders deficit
( 235,391)
( 215,003)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
Mr N Islam
Director
Company registration number: 05022464
MOTOHIRE (UK) LTD
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 46 The Ridgeway, North Harrow, Middlesex, HA2 7QN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
As disclosed in the Statement of financial position, the company has a deficit of net assets. Of the creditors, £242,081 is owed to the director who has confirmed that no repayment would be demanded at least for the next twelve months. The director has considered the trading requirements of the company for the period exceeding twelve months from the date of this report. Having regard to the above therefore, it is the opinion of the director that the accounts be prepared on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Motor Vehicles
-
20% reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
2,538
143,150
145,688
-------
---------
---------
Depreciation
At 1 February 2022
1,740
105,955
107,695
Charge for the year
160
7,439
7,599
-------
---------
---------
At 31 January 2023
1,900
113,394
115,294
-------
---------
---------
Carrying amount
At 31 January 2023
638
29,756
30,394
-------
---------
---------
At 31 January 2022
798
37,195
37,993
-------
---------
---------
6. Debtors
2023
2022
£
£
Other debtors
3,087
2,832
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,001
2,001
Social security and other taxes
968
601
Other creditors
262,852
250,471
---------
---------
265,821
253,073
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,012
5,607
-------
-------