Registered number
12467307
MOTIVE GROUP LIMITED
Filleted Accounts
31 March 2024
MOTIVE GROUP LIMITED
Registered number: 12467307
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 44,842 59,760
Current assets
Debtors 4 62,766 48,195
Cash at bank and in hand 100,368 118,456
163,134 166,651
Creditors: amounts falling due within one year 5 (73,657) (51,633)
Net current assets 89,477 115,018
Total assets less current liabilities 134,319 174,778
Provisions for liabilities (11,210) (11,354)
Net assets 123,109 163,424
Capital and reserves
Called up share capital 10 10
Profit and loss account 123,099 163,414
Shareholders' funds 123,109 163,424
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Kieran George
Director
Approved by the board on 30 July 2024
MOTIVE GROUP LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles over 5 years
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 8,779 69,839 78,618
Additions 1,659 - 1,659
Disposals (590) - (590)
At 31 March 2024 9,848 69,839 79,687
Depreciation
At 1 April 2023 4,890 13,968 18,858
Charge for the year 2,609 13,968 16,577
On disposals (590) - (590)
At 31 March 2024 6,909 27,936 34,845
Net book value
At 31 March 2024 2,939 41,903 44,842
At 31 March 2023 3,889 55,871 59,760
4 Debtors 2024 2023
£ £
Trade debtors 50,000 8,640
Other debtors 12,766 39,555
62,766 48,195
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 281 500
Taxation and social security costs 66,933 48,093
Other creditors 6,443 3,040
73,657 51,633
6 Events after the reporting date
The director of the company had concerns with a client's ability to pay its debt as at the year end and agreement was reached to write off £34,833 in order to secure settlement.
7 Controlling party
The controlling party is Mr Kieran George, a Director.
8 Other information
MOTIVE GROUP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
128 City Road
London
EC1V 2NX
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