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Registered Number: 07239037
England

 

 

 

MOFOR SOLUTIONS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 29 February 2024
Report to the directors on the preparation of the unaudited statutory accounts of MOFOR SOLUTIONS LIMITED for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MOFOR SOLUTIONS LIMITED for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of MOFOR SOLUTIONS LIMITED, as a body, in accordance with the terms of our engagement letter dated 03 April 2024 Our work has been undertaken solely to prepare for your approval the accounts of MOFOR SOLUTIONS LIMITED and state those matters that we have agreed to state to the Board of Directors of MOFOR SOLUTIONS LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MOFOR SOLUTIONS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MOFOR SOLUTIONS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MOFOR SOLUTIONS LIMITED. You consider that MOFOR SOLUTIONS LIMITED is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of MOFOR SOLUTIONS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
29 February 2024



....................................................
Edge Chartered Certified Accountants (Partnership)
Electric Wharf
1 Generator Hall
Coventry
West Midlands
CV1 4JL
03 April 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 24,654    30,817 
Tangible fixed assets 4 21,428    26,785 
46,082    57,602 
Current assets      
Debtors 190,000    532,912 
Cash at bank and in hand 1,345    70,946 
191,345    603,858 
Creditors: amount falling due within one year (314,143)   (368,685)
Net current assets (122,798)   235,173 
 
Total assets less current liabilities (76,716)   292,775 
Creditors: amount falling due after more than one year (34,343)   (205,091)
Net assets (111,059)   87,684 
 

Capital and reserves
     
Profit and loss account (111,059)   87,684 
Shareholder's funds (111,059)   87,684 
 


For the period ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 03 April 2024 and were signed by:


-------------------------------
Jacinta Alemnjuh Leke
Director
2
General Information
MOFOR SOLUTIONS LIMITED is a private company, limited by shares, registered in England, registration number 07239037, registration address 512 Enterprise House, Courtaulds Way, Coventry, CV6 5NX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.

Average number of employees

Average number of employees during the period was 49 (2023 : 43).
3.

Intangible fixed assets

Cost Software License   Total
  £   £
At 01 April 2023 80,500    80,500 
Additions  
Disposals  
At 29 February 2024 80,500    80,500 
Amortisation
At 01 April 2023 49,683    49,683 
Charge for period 6,163    6,163 
On disposals  
At 29 February 2024 55,846    55,846 
Net book values
At 29 February 2024 24,654    24,654 
At 31 March 2023 30,817    30,817 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2023 39,017    2,346    15,185    5,147    61,695 
Additions        
Disposals        
At 29 February 2024 39,017    2,346    15,185    5,147    61,695 
Depreciation
At 01 April 2023 23,637    1,366    8,225    1,682    34,910 
Charge for period 3,076    196    1,392    693    5,357 
On disposals        
At 29 February 2024 26,713    1,562    9,617    2,375    40,267 
Net book values
Closing balance as at 29 February 2024 12,304    784    5,568    2,772    21,428 
Opening balance as at 01 April 2023 15,380    980    6,960    3,465    26,785 


3