Registered number
08339147
THE MOTORISTS ORGANISATION LIMITED
Report and Accounts
31 December 2023
THE MOTORISTS ORGANISATION LIMITED
Registered number: 08339147
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 4 22,259 11,183
Tangible assets 5 19,455 9,367
41,714 20,550
Current assets
Debtors 6 403,163 327,416
Cash at bank and in hand 1,940,835 1,638,423
2,343,998 1,965,839
Creditors: amounts falling due within one year 7 (445,750) (626,241)
Net current assets 1,898,248 1,339,598
Net assets 1,939,962 1,360,148
Capital and reserves
Called up share capital 8 190,414 190,414
Share premium 9 3,070,484 3,070,484
Profit and loss account (1,320,936) (1,900,750)
Shareholders' funds 1,939,962 1,360,148
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Rotberg
Director
Approved by the board on 2 August 2024
THE MOTORISTS ORGANISATION LIMITED
Statement of Changes in Equity
for the year ended 31 December 2023
Share Share Profit Total
capital premium and loss
account
£ £ £ £
At 1 January 2022 190,414 3,070,484 (2,808,626) 452,272
Profit for the financial year 907,876 907,876
At 31 December 2022 190,414 3,070,484 (1,900,750) 1,360,148
At 1 January 2023 190,414 3,070,484 (1,900,750) 1,360,148
Profit for the financial year 579,814 579,814
At 31 December 2023 190,414 3,070,484 (1,320,936) 1,939,962
THE MOTORISTS ORGANISATION LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% to 33% straight line
Development Costs
The Motorists Organisation development costs are expensed in the year they are incurred.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price),less any impairment losses for bad and doubtful debts. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 33 27
3 Operating result 2023 2022
£ £
This is stated after charging
Depreciation fixed assets 10,580 7,524
Directors remuneration 102,400 100,000
4 Intangible fixed assets £
Software
Cost
At 1 January 2023 43,995
Additions 14,970
At 31 December 2023 58,965
Amortisation
At 1 January 2023 32,812
Provided during the year 3,894
At 31 December 2023 36,706
Net book value
At 31 December 2023 22,259
At 31 December 2022 11,183
Software is being written off in equal annual instalments over its estimated economic life of 5 years.
5 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 37,361
Additions 16,774
At 31 December 2023 54,135
Depreciation
At 1 January 2023 27,994
Charge for the year 6,686
At 31 December 2023 34,680
Net book value
At 31 December 2023 19,455
At 31 December 2022 9,367
6 Debtors 2023 2022
£ £
Trade debtors 371,712 289,700
Other debtors 31,451 37,716
403,163 327,416
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 183,247 337,268
Corporation tax 906 -
Other taxes and social security costs 210,435 209,681
Short term other creditors 33,295 37,816
Other creditors 17,867 41,476
445,750 626,241
The company operates a defined contribution pension scheme. The assets of the scheme are held separately for those of the Company in an independently administered fund. The pension charge amounted to £26,632 (2022 - £20,774). Contributions amounting to £6,628 (2022 - £4,809) were payable to the fund and are included in other creditors.
8 Share Capital 2023 2022
Number £ £
Allotted called up and fully paid
Ordinary shares of 0.1p each 403,400 403 403
A Ordinary shares of 0.1p each 10,000 10 10
B Ordinary shares of 1p each 51 1 1
ES Shares of 100p each 190,000 190,000 190,000
190,414 190,414
9 Share premium 2023 2022
£ £
At 1 January 2022 and 31 December 2022 3,070,484 3,070,484
10 Related party transactions 2023 2022
£ £
D Rotberg - Director
Loans to the company
Amount due to the related party - -
K A Rotberg - Former Director resigned 17th January 2017
Loans to the company by her family
Amount due to the related party - 29,445
Interest accrued/paid thereon -
11 Other information
THE MOTORISTS ORGANISATION LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Suite 216, 1000 Lakeside, Western Road, Portsmouth, Hampshire PO6 3EN
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