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REGISTERED NUMBER: 06646615 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

MAWSLEY MOTOR COMPANY LTD

MAWSLEY MOTOR COMPANY LTD (REGISTERED NUMBER: 06646615)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAWSLEY MOTOR COMPANY LTD

Company Information
for the Year Ended 31 July 2023







DIRECTORS: R Booluck
J Brawn





REGISTERED OFFICE: Rear of No.2
Glenthorne Road
Friern Barnet
N11 3HT





REGISTERED NUMBER: 06646615 (England and Wales)





ACCOUNTANTS: Gynch Shaw Maurice & Co
Chartered Certified Accountants
Rear of No 2
SPM House
Glenthorne Road
Friern Barnet
London
N11 3HT

MAWSLEY MOTOR COMPANY LTD (REGISTERED NUMBER: 06646615)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 160,156 132,512
Investments 5 70,000 -
230,156 132,512

CURRENT ASSETS
Stocks 1,247,305 1,060,132
Debtors 6 12,500 12,500
Cash at bank 23,002 16,502
1,282,807 1,089,134
CREDITORS
Amounts falling due within one year 7 858,557 754,193
NET CURRENT ASSETS 424,250 334,941
TOTAL ASSETS LESS CURRENT
LIABILITIES

654,406

467,453

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 654,306 467,353
SHAREHOLDERS' FUNDS 654,406 467,453

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

MAWSLEY MOTOR COMPANY LTD (REGISTERED NUMBER: 06646615)

Balance Sheet - continued
31 July 2023


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 5 June 2024 and were signed on its behalf by:




J Brawn - Director



R Booluck - Director


MAWSLEY MOTOR COMPANY LTD (REGISTERED NUMBER: 06646615)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Mawsley Motor Company Ltd 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.

Turnover
Turnover represents buying and selling of second hand cars, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer & Equipment -20% reducing balance
Furniture & Fittings -10% reducing balance
Motor Vehicles -25% reducing balance
Short Lease -20% 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 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.

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.

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.

MAWSLEY MOTOR COMPANY LTD (REGISTERED NUMBER: 06646615)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 12,618 252,115 264,733
Additions - 84,879 84,879
Disposals - (25,000 ) (25,000 )
At 31 July 2023 12,618 311,994 324,612
DEPRECIATION
At 1 August 2022 10,490 121,731 132,221
Charge for year 1,802 41,371 43,173
Eliminated on disposal - (10,938 ) (10,938 )
At 31 July 2023 12,292 152,164 164,456
NET BOOK VALUE
At 31 July 2023 326 159,830 160,156
At 31 July 2022 2,128 130,384 132,512

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 70,000
At 31 July 2023 70,000
NET BOOK VALUE
At 31 July 2023 70,000

These investments comprise of shares purchased during the year in another private limited company with related activities to Mawsley Motor Company Limited..

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 12,500 12,500

MAWSLEY MOTOR COMPANY LTD (REGISTERED NUMBER: 06646615)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 25,311 18,062
Taxation and social security 43,872 48,031
Other creditors 789,374 688,100
858,557 754,193

Included in other creditors is a loan balance of £691,139 due to Motonovo Finance, repayable within one year.

8. CONTINGENT LIABILITIES

There was no contingent liability as at the balance sheet date.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES



10. RELATED PARTY DISCLOSURES



11. POST BALANCE SHEET EVENTS

There were no post balance sheet events.

12. ULTIMATE CONTROLLING PARTY