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REGISTERED NUMBER: 07563706 (England and Wales)
















Unaudited Financial Statements for the Year Ended 30 April 2023

for

M A Motors (St. Neots) Limited

M A Motors (St. Neots) Limited (Registered number: 07563706)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


M A Motors (St. Neots) Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr M Aprigliano
Mrs E Aprigliano





REGISTERED OFFICE: Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN





BUSINESS ADDRESS: 12/13 Howard Road
Howard Road Industrial Estate
Eaton Socon
St Neots
Cambridgeshire
PE19 8ET





REGISTERED NUMBER: 07563706 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

M A Motors (St. Neots) Limited (Registered number: 07563706)

Abridged Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 64,674 62,408
64,674 62,408

CURRENT ASSETS
Stocks 4,203 3,745
Debtors 17,816 28,154
Cash at bank 183,385 169,347
205,404 201,246
CREDITORS
Amounts falling due within one year 131,891 135,577
NET CURRENT ASSETS 73,513 65,669
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,187

128,077

CREDITORS
Amounts falling due after more than one
year

(33,049

)

(46,788

)

PROVISIONS FOR LIABILITIES 8 (13,157 ) (8,811 )
NET ASSETS 91,981 72,478

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 91,881 72,378
SHAREHOLDERS' FUNDS 91,981 72,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

M A Motors (St. Neots) Limited (Registered number: 07563706)

Abridged Balance Sheet - continued
30 April 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 November 2023 and were signed on its behalf by:





Mr M Aprigliano - Director


M A Motors (St. Neots) Limited (Registered number: 07563706)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

M A Motors (St. Neots) 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 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Government grants are recognised in the financial statements using the accruals model. Grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable.

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

M A Motors (St. Neots) Limited (Registered number: 07563706)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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 6 (2022 - 6 ) .

M A Motors (St. Neots) Limited (Registered number: 07563706)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2022
and 30 April 2023 10,000
AMORTISATION
At 1 May 2022
and 30 April 2023 10,000
NET BOOK VALUE

At 30 April 2023 -
At 30 April 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2022 180,307
Additions 18,669
Disposals (655 )
At 30 April 2023 198,321
DEPRECIATION
At 1 May 2022 117,899
Charge for year 16,291
Eliminated on disposal (543 )
At 30 April 2023 133,647
NET BOOK VALUE
At 30 April 2023 64,674
At 30 April 2022 62,408

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.23 30.4.22
£    £   
Within one year 1 1

M A Motors (St. Neots) Limited (Registered number: 07563706)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Barclays Bank Loan 11,621 15,163
Bounce Back Loan 35,000 45,000
46,621 60,163

The company's bank, Barclays Bank Plc have a fixed and floating charge over the assets of the company. Furthermore, the directors of the company have pledged guarantees to the bank in respect of the outstanding bank loan of £11,621.

In 2021 the company received a government backed loan in light of the Covid 19 pandemic. The loan is secured by the government over a 5 year repayment period. The loan is repayable by instalments which commenced 22 November 2021. Interest is being charged at 2.5% per annum with effect from 22 November 2021.

8. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£    £   
Deferred tax 13,157 8,811

Deferred
tax
£   
Balance at 1 May 2022 8,811
Accelerated capital allowances 4,346
Balance at 30 April 2023 13,157

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
100 Ordinary £1 100 100

10. PENSION COMMITMENT

The pension contributions outstanding at the year end amounted to £1,309 (2022: £1,032). Pension costs incurred during the year amounted to £3,274 (2022: £2,469).