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COMPANY REGISTRATION NUMBER: 03330326
MOTORON SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
MOTORON SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
5
25,199
5,625
CURRENT ASSETS
Stocks
172,321
145,380
Debtors
6
198,071
313,947
Cash at bank and in hand
83,863
180,397
---------
---------
454,255
639,724
CREDITORS: amounts falling due within one year
7
124,045
191,388
---------
---------
NET CURRENT ASSETS
330,210
448,336
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
355,409
453,961
PROVISIONS
3,958
3,958
---------
---------
NET ASSETS
351,451
450,003
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
351,351
449,903
---------
---------
SHAREHOLDERS FUNDS
351,451
450,003
---------
---------
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 31 March 2024 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 .
MOTORON SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 1 August 2024 , and are signed on behalf of the board by:
L M Butler
Director
Company registration number: 03330326
MOTORON SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
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 8, The Alpha Centre, Armstrong Way, Yate, Bristol, BS37 5NG.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Plant & equipment
-
20% straight line
Demonstration equipment
-
20% straight line
Motor Vehicles
-
25% straight line
Office equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
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 9 (2023: 9 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
36,633
23,440
72,713
37,204
169,990
Additions
2,182
29,403
31,585
Disposals
( 15,658)
( 15,658)
--------
--------
--------
--------
---------
At 31 March 2024
38,815
23,440
86,458
37,204
185,917
--------
--------
--------
--------
---------
Depreciation
At 1 April 2023
34,098
23,440
69,623
37,204
164,365
Charge for the year
1,570
10,441
12,011
Disposals
( 15,658)
( 15,658)
--------
--------
--------
--------
---------
At 31 March 2024
35,668
23,440
64,406
37,204
160,718
--------
--------
--------
--------
---------
Carrying amount
At 31 March 2024
3,147
22,052
25,199
--------
--------
--------
--------
---------
At 31 March 2023
2,535
3,090
5,625
--------
--------
--------
--------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
190,802
308,318
Amounts owed by group undertakings and undertakings in which the company has a participating interest
4,320
4,320
Other debtors
2,949
1,309
---------
---------
198,071
313,947
---------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
94,330
147,447
Social security and other taxes
23,387
38,361
Other creditors
6,328
5,580
---------
---------
124,045
191,388
---------
---------
8. CONTROLLING PARTY
The parent undertaking of Motoron Services Limited is Motoron Holdings Limited, whose registered office is Unit 8 The Alpha Centre Armstrong Way, Yate, Bristol, BS37 5NG.