Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Aaron Middleton 11/11/2014 James Middleton 11/11/2014 Matthew Middleton 11/11/2014 22 July 2024 The principal activity of the Company is motor bodywork and maintenance. 09306536 2023-12-31 09306536 bus:Director1 2023-12-31 09306536 bus:Director2 2023-12-31 09306536 bus:Director3 2023-12-31 09306536 2022-12-31 09306536 core:CurrentFinancialInstruments 2023-12-31 09306536 core:CurrentFinancialInstruments 2022-12-31 09306536 core:ShareCapital 2023-12-31 09306536 core:ShareCapital 2022-12-31 09306536 core:RetainedEarningsAccumulatedLosses 2023-12-31 09306536 core:RetainedEarningsAccumulatedLosses 2022-12-31 09306536 core:Goodwill 2022-12-31 09306536 core:Goodwill 2023-12-31 09306536 core:LandBuildings 2022-12-31 09306536 core:LeaseholdImprovements 2022-12-31 09306536 core:PlantMachinery 2022-12-31 09306536 core:Vehicles 2022-12-31 09306536 core:OfficeEquipment 2022-12-31 09306536 core:LandBuildings 2023-12-31 09306536 core:LeaseholdImprovements 2023-12-31 09306536 core:PlantMachinery 2023-12-31 09306536 core:Vehicles 2023-12-31 09306536 core:OfficeEquipment 2023-12-31 09306536 2023-01-01 2023-12-31 09306536 bus:FilletedAccounts 2023-01-01 2023-12-31 09306536 bus:SmallEntities 2023-01-01 2023-12-31 09306536 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09306536 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09306536 bus:Director1 2023-01-01 2023-12-31 09306536 bus:Director2 2023-01-01 2023-12-31 09306536 bus:Director3 2023-01-01 2023-12-31 09306536 core:PlantMachinery 2023-01-01 2023-12-31 09306536 core:Vehicles 2023-01-01 2023-12-31 09306536 core:OfficeEquipment 2023-01-01 2023-12-31 09306536 2022-01-01 2022-12-31 09306536 core:LandBuildings 2023-01-01 2023-12-31 09306536 core:LeaseholdImprovements 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 09306536 (England and Wales)

MIDDLETONS MOTOR CARE LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

MIDDLETONS MOTOR CARE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

MIDDLETONS MOTOR CARE LIMITED

BALANCE SHEET

As at 31 December 2023
MIDDLETONS MOTOR CARE LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 165,317 175,231
165,317 175,231
Current assets
Stocks 1,840 1,625
Debtors 5 194,230 83,893
Cash at bank and in hand 463,564 430,675
659,634 516,193
Creditors: amounts falling due within one year 6 ( 147,882) ( 119,768)
Net current assets 511,752 396,425
Total assets less current liabilities 677,069 571,656
Net assets 677,069 571,656
Capital and reserves
Called-up share capital 3 3
Profit and loss account 677,066 571,653
Total shareholders' funds 677,069 571,656

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Middletons Motor Care Limited (registered number: 09306536) were approved and authorised for issue by the Board of Directors on 22 July 2024. They were signed on its behalf by:

Aaron Middleton
Director
MIDDLETONS MOTOR CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
MIDDLETONS MOTOR CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Middletons Motor Care Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements not depreciated
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 13

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 108,750 108,750
At 31 December 2023 108,750 108,750
Accumulated amortisation
At 01 January 2023 108,750 108,750
At 31 December 2023 108,750 108,750
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Total
£ £ £ £ £ £
Cost
At 01 January 2023 76,714 30,960 138,929 12,200 3,031 261,834
Additions 0 0 4,767 0 0 4,767
At 31 December 2023 76,714 30,960 143,696 12,200 3,031 266,601
Accumulated depreciation
At 01 January 2023 0 2,898 76,238 5,953 1,514 86,603
Charge for the financial year 0 0 13,129 1,249 303 14,681
At 31 December 2023 0 2,898 89,367 7,202 1,817 101,284
Net book value
At 31 December 2023 76,714 28,062 54,329 4,998 1,214 165,317
At 31 December 2022 76,714 28,062 62,691 6,247 1,517 175,231

5. Debtors

2023 2022
£ £
Trade debtors 69,855 47,806
Other debtors 124,375 36,087
194,230 83,893

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 25,604 22,171
Taxation and social security 116,882 90,329
Other creditors 5,396 7,268
147,882 119,768

7. Related party transactions

Transactions with the entity's directors

The directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 January 2023, the balance was 36,087. During the year, £269,902 was advanced to the directors, and £181,614 was repaid by the directors. The balance at 31 December 2023 was £124,375.

At 1 January 2022, the balance was (£2,824). During the year, £131,114 was advanced to the directors, and £92,203 was repaid by the directors. The balance at 31 December 2022 was £36,087.