2022-08-012023-07-312023-07-31false11399108MIDLAND MOTORHOUSE 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MIDLAND MOTORHOUSE LTD

Registered Number
11399108
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

MIDLAND MOTORHOUSE LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

Mohammed Khalid Bin Alim
Dale Buttery

Registered Address

63 Leaders Way
Lutterworth
LE17 4YS

Registered Number

11399108 (England and Wales)
MIDLAND MOTORHOUSE LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets616,80019,200
Tangible assets74,863817
21,66320,017
Current assets
Stocks8161,32974,217
Debtors94,6752,000
Cash at bank and on hand17,40417,627
183,40893,844
Creditors amounts falling due within one year10(158,813)(102,155)
Net current assets (liabilities)24,595(8,311)
Total assets less current liabilities46,25811,706
Creditors amounts falling due after one year11(7,333)(11,333)
Net assets38,925373
Capital and reserves
Called up share capital100-
Profit and loss account38,825373
Shareholders' funds38,925373
The financial statements were approved and authorised for issue by the Board of Directors on 24 September 2023, and are signed on its behalf by:
Dale Buttery
Director
Mohammed Khalid Bin Alim
Director

Registered Company No. 11399108
MIDLAND MOTORHOUSE LTD
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
Sale of motor vehicles
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery20-
Office Equipment-3
Intangible assets policy
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.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year43
6.Intangible assets

Other

Total

££
Cost or valuation
At 01 August 2224,00024,000
At 31 July 2324,00024,000
Amortisation and impairment
At 01 August 224,8004,800
Charge for year2,4002,400
At 31 July 237,2007,200
Net book value
At 31 July 2316,80016,800
At 31 July 2219,20019,200
7.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 August 221,707-1,707
Additions3,6591,9235,582
At 31 July 235,3661,9237,289
Depreciation and impairment
At 01 August 22890-890
Charge for year8956411,536
At 31 July 231,7856412,426
Net book value
At 31 July 233,5811,2824,863
At 31 July 22817-817
8.Stocks

2023

2022

££
Other stocks161,32974,217
Total161,32974,217
9.Debtors

2023

2022

££
Trade debtors / trade receivables-2,000
Prepayments and accrued income4,675-
Total4,6752,000
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables17,0743,372
Bank borrowings and overdrafts17,46914,551
Taxation and social security30,3357,318
Other creditors83,75773,314
Accrued liabilities and deferred income10,1783,600
Total158,813102,155
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.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts7,33311,333
Total7,33311,333