Company Registration No. 02345930 (England and Wales)
Motex Systems Limited
Unaudited accounts
for the year ended 31 March 2023
Motex Systems Limited
Unaudited accounts
Contents
Motex Systems Limited
Company Information
for the year ended 31 March 2023
Company Number
02345930 (England and Wales)
Accountants
Evans Entwistle
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Motex Systems Limited
for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Motex Systems Limited for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
27 November 2023
Motex Systems Limited
Statement of financial position
as at 31 March 2023
Investment property
200,000
200,000
Cash at bank and in hand
26,529
25,209
Creditors: amounts falling due within one year
(700)
(678)
Net current assets
25,829
24,531
Total assets less current liabilities
225,829
224,531
Creditors: amounts falling due after more than one year
(33,240)
(27,000)
Net assets
192,589
197,531
Called up share capital
9,750
9,750
Profit and loss account
182,839
187,781
Shareholders' funds
192,589
197,531
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2023 and were signed on its behalf by
D J Crump
Director
Company Registration No. 02345930
Motex Systems Limited
Notes to the Accounts
for the year ended 31 March 2023
Motex Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 02345930.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 April 2022
200,000
The directors will estimate the market value of the property, with any increase being credit to the revaluation reserve, with appropriate provisions being made for deferred taxation.
5
Creditors: amounts falling due within one year
2023
2022
6
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
33,240
27,000
Motex Systems Limited
Notes to the Accounts
for the year ended 31 March 2023
Allotted, called up and fully paid:
9,750 Ordinary shares of £1 each
9,750
9,750
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).