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REGISTERED NUMBER: 00938713 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MON AND BORDER MOTOR FACTORS LIMITED

MON AND BORDER MOTOR FACTORS LIMITED (REGISTERED NUMBER: 00938713)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MON AND BORDER MOTOR FACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: N R Davies





REGISTERED OFFICE: Autopia Site
Llantarnam Road
Cwmbran
Monmouthshire
NP44 3BB





REGISTERED NUMBER: 00938713 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE

MON AND BORDER MOTOR FACTORS LIMITED (REGISTERED NUMBER: 00938713)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,436 49,162

CURRENT ASSETS
Stocks 5 382,310 365,500
Debtors 6 152,331 177,439
Cash at bank and in hand 145,982 219,987
680,623 762,926
CREDITORS
Amounts falling due within one year 7 287,841 333,567
NET CURRENT ASSETS 392,782 429,359
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,218

478,521

CREDITORS
Amounts falling due after more than one
year

8

(17,059

)

(30,079

)

PROVISIONS FOR LIABILITIES (6,924 ) (9,342 )
NET ASSETS 405,235 439,100

CAPITAL AND RESERVES
Called up share capital 2,500 2,500
Capital redemption reserve 7,500 7,500
Retained earnings 395,235 429,100
SHAREHOLDERS' FUNDS 405,235 439,100

MON AND BORDER MOTOR FACTORS LIMITED (REGISTERED NUMBER: 00938713)

BALANCE SHEET - continued
30 NOVEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 29 July 2024 and were signed by:





N R Davies - Director


MON AND BORDER MOTOR FACTORS LIMITED (REGISTERED NUMBER: 00938713)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Mon and Border Motor Factors 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable of goods sold (net of VAT and trade discounts). Income is recognised when goods have been despatched or delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 25% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

MON AND BORDER MOTOR FACTORS LIMITED (REGISTERED NUMBER: 00938713)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pensions
The company operates a defined contribution pension scheme for its director and employees. The company also pays into the personal pension of the director. Annual contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 December 2022 87,343 160,664 248,007
Additions 2,007 - 2,007
At 30 November 2023 89,350 160,664 250,014
DEPRECIATION
At 1 December 2022 87,226 111,619 198,845
Charge for year 523 14,210 14,733
At 30 November 2023 87,749 125,829 213,578
NET BOOK VALUE
At 30 November 2023 1,601 34,835 36,436
At 30 November 2022 117 49,045 49,162

MON AND BORDER MOTOR FACTORS LIMITED (REGISTERED NUMBER: 00938713)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 11,840
DEPRECIATION
At 1 December 2022 5,917
Charge for year 2,960
At 30 November 2023 8,877
NET BOOK VALUE
At 30 November 2023 2,963
At 30 November 2022 5,923

5. STOCKS
2023 2022
£    £   
Finished goods and goods for
resale 382,310 365,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 147,800 171,224
Other debtors - 250
Directors' loan accounts 2,327 5,603
Tax 1,587 -
Prepayments 617 362
152,331 177,439

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,127 9,872
Hire purchase contracts 2,893 2,715
Trade creditors 256,560 262,074
Taxation and social security 14,714 55,771
Other creditors 3,547 3,135
287,841 333,567

MON AND BORDER MOTOR FACTORS LIMITED (REGISTERED NUMBER: 00938713)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,670 25,797
Hire purchase contracts 1,389 4,282
17,059 30,079

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 4,282 6,997

Hire purchase creditor is secured against the asset to which it relates.

10. FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £4,762 (2022 - £4,762)

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
N R Davies
Balance outstanding at start of year 5,603 -
Amounts advanced 2,327 5,603
Amounts repaid (5,603 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,327 5,603

This loan is repayable on demand.