Registered number
05406394
MOTION EVENTS LTD
Filleted Accounts
31 December 2023
MOTION EVENTS LTD
Registered number: 05406394
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 257,402 308,433
Investments 4 3 3
257,405 308,436
Current assets
Stocks 50,858 54,558
Debtors 5 652,275 479,609
Cash at bank and in hand 99,538 587,812
802,671 1,121,979
Creditors: amounts falling due within one year 6 (1,008,231) (1,033,122)
Net current (liabilities)/assets (205,560) 88,857
Total assets less current liabilities 51,845 397,293
Provisions for liabilities (9,929) (11,670)
Net assets 41,916 385,623
Capital and reserves
Called up share capital 400 400
Profit and loss account 41,516 385,223
Shareholders' funds 41,916 385,623
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M E Page
Director
Approved by the board on 9 February 2024
MOTION EVENTS LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold Improvements Over the Course of the Lease
Computer & Office Equipment 25% Reducing Balance
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Domestic current year tax Dec-23 Dec-22
£ £
UK Corporation Tax - 35,372
Adj in respect of previous years -35,372
Deferred tax -1,741 -7,090
-37,113 28,282
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Leasehold Improvmnts Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 149,861 944,545 1,094,406
Additions - 26,862 26,862
At 31 December 2023 149,861 971,407 1,121,268
Depreciation
At 1 January 2023 102,165 683,808 785,973
Charge for the year 5,994 71,899 77,893
At 31 December 2023 108,159 755,707 863,866
Net book value
At 31 December 2023 41,702 215,700 257,402
At 31 December 2022 47,696 260,737 308,433
4 Investments
Other
investments
£
Cost
At 1 January 2023 3
At 31 December 2023 3
5 Debtors 2023 2022
£ £
Trade debtors 266,808 346,878
Amount Due from Connected Company 103,189 58,500
Prepayment 246,906 74,231
Other debtors 35,372 -
652,275 479,609
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 59,820 49,081
Trade creditors 484,510 254,436
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 6,232
Taxation and social security costs 259,288 348,168
Directors Current Account 5,285 5,782
Accruals 157,244 307,787
Other creditors 42,084 61,636
1,008,231 1,033,122
7 Controlling party
As a consequence of the company's shareholding structure, there is no one ultimate controlling party. The company is therefore controlled by its directors.
8 Other information
MOTION EVENTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Pennywell Projects
30-64 Pennywell Road
First Floor Front
Bristol
BS5 0TL
MOTION EVENTS LTD 05406394 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2022 M E Page No description of principal activity 05406394 2022-01-01 2022-12-31 05406394 core:WithinOneYear 2022-12-31 05406394 core:ShareCapital 2022-12-31 05406394 core:RetainedEarningsAccumulatedLosses 2022-12-31 05406394 2023-01-01 2023-12-31 05406394 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05406394 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05406394 bus:Director40 2023-01-01 2023-12-31 05406394 1 2023-01-01 2023-12-31 05406394 2 2023-01-01 2023-12-31 05406394 core:LandBuildings 2023-01-01 2023-12-31 05406394 core:PlantMachinery 2023-01-01 2023-12-31 05406394 countries:England 2023-01-01 2023-12-31 05406394 bus:FRS102 2023-01-01 2023-12-31 05406394 bus:FullAccounts 2023-01-01 2023-12-31 05406394 2023-12-31 05406394 core:WithinOneYear 2023-12-31 05406394 core:ShareCapital 2023-12-31 05406394 core:RetainedEarningsAccumulatedLosses 2023-12-31 05406394 core:LandBuildings 2023-12-31 05406394 core:PlantMachinery 2023-12-31 05406394 2022-12-31 05406394 core:LandBuildings 2022-12-31 05406394 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure