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REGISTERED NUMBER: 08570765 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

THE MOTORCYCLE WORKS CAMBRIDGE LTD

THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE MOTORCYCLE WORKS CAMBRIDGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: E C Upward





REGISTERED OFFICE: Unit 6 Creake Business Park
South Creake
Fakenham
Norfolk
NR21 9JB





REGISTERED NUMBER: 08570765 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 62,797 51,187
62,797 51,187

CURRENT ASSETS
Stocks 169,455 103,873
Debtors 7 7,534 4,100
Cash at bank 1,497 28,206
178,486 136,179
CREDITORS
Amounts falling due within one year 8 (206,160 ) (105,223 )
NET CURRENT (LIABILITIES)/ASSETS (27,674 ) 30,956
TOTAL ASSETS LESS CURRENT LIABILITIES 35,123 82,143

CREDITORS
Amounts falling due after more than one
year

9

(36,386

)

(50,092

)

PROVISIONS FOR LIABILITIES (8,340 ) (9,725 )
NET (LIABILITIES)/ASSETS (9,603 ) 22,326

CAPITAL AND RESERVES
Called up share capital 12 100 100
Share premium 2,995 2,995
Retained earnings (12,698 ) 19,231
SHAREHOLDERS' FUNDS (9,603 ) 22,326

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765)

BALANCE SHEET - continued
31 DECEMBER 2022


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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 October 2023 and were signed by:





E C Upward - Director


THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

The Motorcycle Works Cambridge 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the net sale, servicing and repairs of motorcycles, excluding value added tax.

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.

Website development costs are being amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life.

Plant and machinery - 25% on reducing balance

Computer equipment - Straight line over 5 years

Motor vehicles - 25% on reducing balance

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

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2022
and 31 December 2022 6,999
AMORTISATION
At 1 January 2022
and 31 December 2022 6,999
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

6. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2022 - 24,459 77,133 1,674 103,266
Additions 20,250 5,600 - 739 26,589
At 31 December 2022 20,250 30,059 77,133 2,413 129,855
DEPRECIATION
At 1 January 2022 - 18,480 32,126 1,473 52,079
Charge for year 1,350 2,311 11,252 66 14,979
At 31 December 2022 1,350 20,791 43,378 1,539 67,058
NET BOOK VALUE
At 31 December 2022 18,900 9,268 33,755 874 62,797
At 31 December 2021 - 5,979 45,007 201 51,187

THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

6. 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 January 2022
and 31 December 2022 50,885
DEPRECIATION
At 1 January 2022 18,423
Charge for year 8,116
At 31 December 2022 26,539
NET BOOK VALUE
At 31 December 2022 24,346
At 31 December 2021 32,462

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 4,511 1,075
Other debtors 3,023 3,025
7,534 4,100

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 40,091 11,160
Hire purchase contracts (see note 10) 4,066 7,595
Trade creditors 12,709 10,691
Taxation and social security 2,443 5,354
Other creditors 146,851 70,423
206,160 105,223

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 23,367 33,007
Hire purchase contracts (see note 10) 13,019 17,085
36,386 50,092

THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Gross obligations repayable:
Within one year 5,006 8,919
Between one and five years 14,185 19,191
19,191 28,110

Finance charges repayable:
Within one year 940 1,324
Between one and five years 1,166 2,106
2,106 3,430

Net obligations repayable:
Within one year 4,066 7,595
Between one and five years 13,019 17,085
17,085 24,680

Non-cancellable operating leases
2022 2021
£    £   
Within one year 13,120 13,120
Between one and five years 13,120 26,240
26,240 39,360

11. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 17,085 24,680

Liabilities held under hire purchase agreements are secured against the asset to which they relate.

THE MOTORCYCLE WORKS CAMBRIDGE LTD (REGISTERED NUMBER: 08570765)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
95 Ordinary £1 95 95
5 Ordinary A class £1 5 5
100 100

13. RELATED PARTY DISCLOSURES

The director was owed £98,958 (2021: £21,258) at the year end. The amount bears no interest, is repayable on demand and is disclosed in other creditors.