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REGISTERED NUMBER: 03716280 (England and Wales)












Unaudited Financial Statements for the Year Ended 29 February 2024

for

Motion Industries (U.K.) Limited

Motion Industries (U.K.) Limited (Registered number: 03716280)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Motion Industries (U.K.) Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S Booth
Mrs G Booth





SECRETARY: S Booth





REGISTERED OFFICE: 70 Market Street
Tottington
Bury
Greater Manchester
BL8 3LJ





REGISTERED NUMBER: 03716280 (England and Wales)





ACCOUNTANTS: Anthony Marshall Ltd
Chartered Accountants
70 Market Street
Tottington
Bury
Greater Manchester
BL8 3LJ

Motion Industries (U.K.) Limited (Registered number: 03716280)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,281 71,501
Investments 5 3,000 3,000
61,281 74,501

CURRENT ASSETS
Stocks 357,651 334,516
Debtors 6 421,327 409,988
Cash at bank and in hand 411,531 767,952
1,190,509 1,512,456
CREDITORS
Amounts falling due within one year 7 249,890 285,042
NET CURRENT ASSETS 940,619 1,227,414
TOTAL ASSETS LESS CURRENT LIABILITIES 1,001,900 1,301,915

PROVISIONS FOR LIABILITIES 8 11,455 14,224
NET ASSETS 990,445 1,287,691

CAPITAL AND RESERVES
Called up share capital 9 2 4
Share premium 1 1
Capital redemption reserve (349,000 ) -
Other reserves 2 -
Retained earnings 1,339,440 1,287,686
SHAREHOLDERS' FUNDS 990,445 1,287,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Motion Industries (U.K.) Limited (Registered number: 03716280)

Statement of Financial Position - continued
29 February 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2024 and were signed on its behalf by:





S Booth - Director


Motion Industries (U.K.) Limited (Registered number: 03716280)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Motion Industries (U.K.) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Motion Industries (U.K.) Limited (Registered number: 03716280)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023 20,770 56,970 41,400 119,140
Additions - 947 - 947
At 29 February 2024 20,770 57,917 41,400 120,087
DEPRECIATION
At 1 March 2023 6,231 34,034 7,374 47,639
Charge for year 2,077 3,584 8,506 14,167
At 29 February 2024 8,308 37,618 15,880 61,806
NET BOOK VALUE
At 29 February 2024 12,462 20,299 25,520 58,281
At 28 February 2023 14,539 22,936 34,026 71,501

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 3,000
NET BOOK VALUE
At 29 February 2024 3,000
At 28 February 2023 3,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 403,937 393,319
Other debtors 17,390 16,669
421,327 409,988

Motion Industries (U.K.) Limited (Registered number: 03716280)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 141,294 150,997
Taxation and social security 87,309 110,808
Other creditors 21,287 23,237
249,890 285,042

8. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 11,455 14,224

Deferred
tax
£   
Balance at 1 March 2023 14,224
Provided during year (2,769 )
Balance at 29 February 2024 11,455

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
4 Ordinary 1 2 4

10. ULTIMATE CONTROLLING PARTY

The company was under the ultimate control of E. M. Taylor, by virtue of his shareholding.
On 11th August 2023 the company carried out a company purchase of own shares in respect of all the shares held by E. M. Taylor. With effect from that date the company is under the ultimate control of S. Booth and G. Booth by virtue of their equal shareholdings in the company.