Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 31 March 2024 31 March 2024 04711038 Mr M Godber Mr M Godber iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04711038 2022-11-30 04711038 2024-03-31 04711038 2022-12-01 2024-03-31 04711038 frs-core:CurrentFinancialInstruments 2024-03-31 04711038 frs-core:Non-currentFinancialInstruments 2024-03-31 04711038 frs-core:ComputerEquipment 2024-03-31 04711038 frs-core:ComputerEquipment 2022-12-01 2024-03-31 04711038 frs-core:ComputerEquipment 2022-11-30 04711038 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2024-03-31 04711038 frs-core:PlantMachinery 2024-03-31 04711038 frs-core:PlantMachinery 2022-12-01 2024-03-31 04711038 frs-core:PlantMachinery 2022-11-30 04711038 frs-core:ShareCapital 2024-03-31 04711038 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04711038 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2024-03-31 04711038 frs-bus:FilletedAccounts 2022-12-01 2024-03-31 04711038 frs-bus:SmallEntities 2022-12-01 2024-03-31 04711038 frs-bus:AuditExemptWithAccountantsReport 2022-12-01 2024-03-31 04711038 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2024-03-31 04711038 frs-core:DeferredTaxation 2022-12-01 2024-03-31 04711038 frs-core:DeferredTaxation 2022-11-30 04711038 frs-bus:Director1 2022-12-01 2024-03-31 04711038 frs-bus:CompanySecretary1 2022-12-01 2024-03-31 04711038 frs-countries:EnglandWales 2022-12-01 2024-03-31 04711038 2021-11-30 04711038 2022-11-30 04711038 2021-12-01 2022-11-30 04711038 frs-core:CurrentFinancialInstruments 2022-11-30 04711038 frs-core:Non-currentFinancialInstruments 2022-11-30 04711038 frs-core:ShareCapital 2022-11-30 04711038 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 04711038
M.H.G Motor Company Limited
Financial Statements
For the Period 1 December 2022 to 31 March 2024
AM Taxation Limited
Church View Barn
Beech Tree Court
Whitchurch
Buckinghamshire
HP22 4JR
Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
In accordance with the engagement letter dated 19 September 2010, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at period ended 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
31st August 2024
AM Taxation Limited
Church View Barn
Beech Tree Court
Whitchurch
Buckinghamshire
HP22 4JR
Page 1
Page 2
Balance Sheet
Registered number: 04711038
31 March 2024 30 November 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,369 629
1,369 629
CURRENT ASSETS
Stocks 5 101,838 247,370
Debtors 6 44,245 3,677
Cash at bank and in hand 368,747 158,717
514,830 409,764
Creditors: Amounts Falling Due Within One Year 7 (246,297 ) (32,823 )
NET CURRENT ASSETS (LIABILITIES) 268,533 376,941
TOTAL ASSETS LESS CURRENT LIABILITIES 269,902 377,570
Creditors: Amounts Falling Due After More Than One Year 8 (11,667 ) (25,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 - (119 )
NET ASSETS 258,235 352,451
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 257,235 351,451
SHAREHOLDERS' FUNDS 258,235 352,451
Page 2
Page 3
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Godber
Director
31st August 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
M.H.G Motor Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04711038 . The registered office is Church View Barn, Beech Tree Court, Whitchurch, Buckinghamshire, HP22 4JR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 used motor vehicles. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold none provided
Plant & Machinery 25% on a straight line basis
Computer Equipment between 25% and 33% on a straight line basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 1,258 7,448 8,706
Additions - 1,456 1,456
Disposals - (3,946 ) (3,946 )
As at 31 March 2024 1,258 4,958 6,216
Depreciation
As at 1 December 2022 774 7,303 8,077
Provided during the period 419 297 716
Disposals - (3,946 ) (3,946 )
As at 31 March 2024 1,193 3,654 4,847
Net Book Value
As at 31 March 2024 65 1,304 1,369
As at 1 December 2022 484 145 629
5. Stocks
31 March 2024 30 November 2022
£ £
Stock 101,838 247,370
6. Debtors
31 March 2024 30 November 2022
£ £
Due within one year
Trade debtors 20,300 -
Other debtors 23,945 3,677
44,245 3,677
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 30 November 2022
£ £
Trade creditors 26,386 3,662
Bank loans and overdrafts 10,000 10,000
Other creditors 207,774 9,935
Taxation and social security 2,137 9,226
246,297 32,823
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Page 6
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 30 November 2022
£ £
Bank loans 11,667 25,000
11,667 25,000
9. Deferred Taxation
The provision for deferred tax is made up as follows:
31 March 2024 30 November 2022
£ £
Other timing differences - 119
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 December 2022 119 119
Utilised (119 ) (119)
11. Share Capital
31 March 2024 30 November 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 6