21 false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07446833 2022-12-01 2023-11-30 07446833 2023-11-30 07446833 2022-11-30 07446833 2021-12-01 2022-11-30 07446833 2022-11-30 07446833 core:PlantMachinery 2022-12-01 2023-11-30 07446833 core:FurnitureFittings 2022-12-01 2023-11-30 07446833 core:MotorVehicles 2022-12-01 2023-11-30 07446833 bus:Director2 2022-12-01 2023-11-30 07446833 core:LandBuildings core:ShortLeaseholdAssets 2022-11-30 07446833 core:PlantMachinery 2022-11-30 07446833 core:FurnitureFittings 2022-11-30 07446833 core:MotorVehicles 2022-11-30 07446833 core:LandBuildings core:ShortLeaseholdAssets 2023-11-30 07446833 core:PlantMachinery 2023-11-30 07446833 core:FurnitureFittings 2023-11-30 07446833 core:MotorVehicles 2023-11-30 07446833 core:LandBuildings core:ShortLeaseholdAssets 2022-12-01 2023-11-30 07446833 core:WithinOneYear 2023-11-30 07446833 core:WithinOneYear 2022-11-30 07446833 core:AfterOneYear 2022-11-30 07446833 core:ShareCapital 2023-11-30 07446833 core:ShareCapital 2022-11-30 07446833 core:RetainedEarningsAccumulatedLosses 2023-11-30 07446833 core:RetainedEarningsAccumulatedLosses 2022-11-30 07446833 core:LandBuildings core:ShortLeaseholdAssets 2022-11-30 07446833 core:PlantMachinery 2022-11-30 07446833 core:FurnitureFittings 2022-11-30 07446833 core:MotorVehicles 2022-11-30 07446833 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-11-30 07446833 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2022-11-30 07446833 bus:SmallEntities 2022-12-01 2023-11-30 07446833 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07446833 bus:FullAccounts 2022-12-01 2023-11-30 07446833 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07446833 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07446833 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 07446833 core:FurnitureFittingsToolsEquipment 2022-11-30 07446833 core:FurnitureFittingsToolsEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 07446833
MONMOUTH MOT CENTRE LTD
Filleted Unaudited Financial Statements
30 November 2023
MONMOUTH MOT CENTRE LTD
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
284,529
307,748
Current assets
Stocks
3,750
3,250
Debtors
6
44,939
33,235
Cash at bank and in hand
251,876
140,081
---------
---------
300,565
176,566
Creditors: amounts falling due within one year
7
( 198,956)
( 154,397)
---------
---------
Net current assets
101,609
22,169
---------
---------
Total assets less current liabilities
386,138
329,917
Creditors: amounts falling due after more than one year
8
( 29,326)
Provisions
( 41,324)
( 37,142)
---------
---------
Net assets
344,814
263,449
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
343,814
262,449
---------
---------
Shareholders funds
344,814
263,449
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MONMOUTH MOT CENTRE LTD
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 31 May 2024 , and are signed on behalf of the board by:
Mr A M Bone
Director
Company registration number: 07446833
MONMOUTH MOT CENTRE LTD
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2b Wyeside Commercial Centre, Hadnock Road, Monmouth, Monmouthshire, NP25 3QG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
Over the term of the lease
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 21 (2022: 19 ).
5. Tangible assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Dec 2022
173,685
184,351
57,135
89,740
5,062
509,973
Additions
9,945
687
8,000
3,519
22,151
---------
---------
--------
--------
-------
---------
At 30 Nov 2023
173,685
194,296
57,822
97,740
8,581
532,124
---------
---------
--------
--------
-------
---------
Depreciation
At 1 Dec 2022
29,093
98,320
35,295
36,162
3,355
202,225
Charge for the year
7,230
19,195
4,505
13,395
1,045
45,370
---------
---------
--------
--------
-------
---------
At 30 Nov 2023
36,323
117,515
39,800
49,557
4,400
247,595
---------
---------
--------
--------
-------
---------
Carrying amount
At 30 Nov 2023
137,362
76,781
18,022
48,183
4,181
284,529
---------
---------
--------
--------
-------
---------
At 30 Nov 2022
144,592
86,031
21,840
53,578
1,707
307,748
---------
---------
--------
--------
-------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 November 2023
11,808
--------
At 30 November 2022
15,744
--------
6. Debtors
2023
2022
£
£
Trade debtors
30,486
23,397
Other debtors
14,453
9,838
--------
--------
44,939
33,235
--------
--------
Included within other debtors are amounts owed to the company from the following companies which are related parties through common shareholders and directors: Auto Spray (Monmouth) Limited £8,407(2022:£7,475).
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
Trade creditors
63,763
58,136
Corporation tax
64,480
28,986
Social security and other taxes
62,233
45,206
Other creditors
8,480
12,069
---------
---------
198,956
154,397
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
28,333
Other creditors
993
----
--------
29,326
----
--------