Motionlink Limited 04660292 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the supply and design of completely automated positioning systems. Digita Accounts Production Advanced 6.30.9574.0 true 04660292 2023-02-01 2024-01-31 04660292 2024-01-31 04660292 core:CurrentFinancialInstruments 2024-01-31 04660292 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 04660292 core:Goodwill 2024-01-31 04660292 core:OfficeEquipment 2024-01-31 04660292 core:PlantMachinery 2024-01-31 04660292 bus:SmallEntities 2023-02-01 2024-01-31 04660292 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04660292 bus:FullAccounts 2023-02-01 2024-01-31 04660292 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04660292 bus:RegisteredOffice 2023-02-01 2024-01-31 04660292 bus:Director3 2023-02-01 2024-01-31 04660292 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04660292 core:Goodwill 2023-02-01 2024-01-31 04660292 core:PatentsTrademarksLicencesConcessionsSimilar 2023-02-01 2024-01-31 04660292 core:OfficeEquipment 2023-02-01 2024-01-31 04660292 core:PlantMachinery 2023-02-01 2024-01-31 04660292 countries:EnglandWales 2023-02-01 2024-01-31 04660292 2023-01-31 04660292 core:Goodwill 2023-01-31 04660292 core:OfficeEquipment 2023-01-31 04660292 core:PlantMachinery 2023-01-31 04660292 2022-02-01 2023-01-31 04660292 2023-01-31 04660292 core:CurrentFinancialInstruments 2023-01-31 04660292 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 04660292 core:OfficeEquipment 2023-01-31 04660292 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 04660292

Motionlink Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Motionlink Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Motionlink Limited

(Registration number: 04660292)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

2,121

2,864

Current assets

 

Stocks

7

48,077

61,495

Debtors

8

240,177

67,704

Cash at bank and in hand

 

138,766

119,206

 

427,020

248,405

Creditors: Amounts falling due within one year

9

(179,662)

(65,840)

Net current assets

 

247,358

182,565

Net assets

 

249,479

185,429

Capital and reserves

 

Called up share capital

90

90

Capital redemption reserve

10

10

Retained earnings

249,379

185,329

Shareholders' funds

 

249,479

185,429

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 April 2024 and signed on its behalf by:
 

.........................................
Mr J W Naples
Director

 

Motionlink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the supply and design of completely automated positioning systems in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Motionlink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Asset class

Depreciation method and rate

Office equipment

over 5 years

Workshed

over 10 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks

over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Motionlink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Taxation

2024

2023

£

£

Corporation tax

17,945

(2,890)

17,945

(2,890)

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

2,047

2,047

At 31 January 2024

2,047

2,047

Amortisation

At 1 February 2023

2,047

2,047

At 31 January 2024

2,047

2,047

Carrying amount

At 31 January 2024

-

-

 

Motionlink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

9,213

15,624

24,837

Additions

-

542

542

At 31 January 2024

9,213

16,166

25,379

Depreciation

At 1 February 2023

6,984

14,989

21,973

Charge for the year

921

364

1,285

At 31 January 2024

7,905

15,353

23,258

Carrying amount

At 31 January 2024

1,308

813

2,121

At 31 January 2023

2,229

635

2,864

7

Stocks

2024
£

2023
£

Other inventories

48,077

61,495

8

Debtors

Current

2024
£

2023
£

Trade debtors

231,776

56,382

Prepayments

3,001

3,032

Other debtors

5,400

8,290

 

240,177

67,704

 

Motionlink Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

51,403

34,083

Taxation and social security

105,559

29,057

Other creditors

22,700

2,700

179,662

65,840

10

Related party transactions

Transactions with directors

Other transactions with directors

Within the other creditors, there is a loan given by Director John Naples for £20,000 (2023: £0)