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REGISTERED NUMBER: 10966106 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MOTORSTEP GLOBAL MOBILITY LTD

MOTORSTEP GLOBAL MOBILITY LTD (REGISTERED NUMBER: 10966106)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOTORSTEP GLOBAL MOBILITY LTD

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTORS: Mrs S V E Bennett
Mr P D Bennett
Mr D P Bennett
Mr W A Moore





REGISTERED OFFICE: Unit S2
Westcott Avenue
Aylesbury
HP18 0XB





REGISTERED NUMBER: 10966106 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

MOTORSTEP GLOBAL MOBILITY LTD (REGISTERED NUMBER: 10966106)

BALANCE SHEET
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,097 4,287

CURRENT ASSETS
Stocks 5 13,500 13,542
Debtors 6 7,701 9,698
Cash at bank 71,591 79,576
92,792 102,816
CREDITORS
Amounts falling due within one year 7 25,738 47,304
NET CURRENT ASSETS 67,054 55,512
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,151

59,799

CREDITORS
Amounts falling due after more than one
year

8

(32,669

)

(38,000

)

PROVISIONS FOR LIABILITIES 9 (652 ) -
NET ASSETS 36,830 21,799

CAPITAL AND RESERVES
Called up share capital 10 20 20
Retained earnings 36,810 21,779
SHAREHOLDERS' FUNDS 36,830 21,799

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

MOTORSTEP GLOBAL MOBILITY LTD (REGISTERED NUMBER: 10966106)

BALANCE SHEET - continued
30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Mr D P Bennett - Director


MOTORSTEP GLOBAL MOBILITY LTD (REGISTERED NUMBER: 10966106)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Motorstep Global Mobility 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer. Turnover is measured at the fair value of the consideration received or receivable, net of discounts, rebates and value added taxes derived from ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MOTORSTEP GLOBAL MOBILITY LTD (REGISTERED NUMBER: 10966106)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MOTORSTEP GLOBAL MOBILITY LTD (REGISTERED NUMBER: 10966106)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 1,862 4,750 3,436 10,048
Additions - - 541 541
At 30 November 2023 1,862 4,750 3,977 10,589
DEPRECIATION
At 1 December 2022 1,492 1,188 3,081 5,761
Charge for year 347 1,187 197 1,731
At 30 November 2023 1,839 2,375 3,278 7,492
NET BOOK VALUE
At 30 November 2023 23 2,375 699 3,097
At 30 November 2022 370 3,562 355 4,287

5. STOCKS
30.11.23 30.11.22
£    £   
Stocks 13,500 13,542

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Value added tax 7,059 9,698
Prepayments and accrued income 642 -
7,701 9,698

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 5,320 4,750
Taxation 17,844 22,804
Directors' current accounts 1,074 18,126
Accruals and deferred income 1,500 1,624
25,738 47,304

MOTORSTEP GLOBAL MOBILITY LTD (REGISTERED NUMBER: 10966106)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 5,454 4,750
Bank loans - 2-5 years 17,205 14,250
Bank loans more than 5 years
by instalments 10,010 19,000
32,669 38,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 10,010 19,000
10,010 19,000

9. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax
Accelerated capital allowances 652 -

Deferred
tax
£   
Provided during year 652
Balance at 30 November 2023 652

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
20 Ordinary £1 20 20