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REGISTERED NUMBER: 09856507 (England and Wales)














Financial Statements for the Year Ended 31 October 2023

for

Motorcycle Service Centre Limited

Motorcycle Service Centre Limited (Registered number: 09856507)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Motorcycle Service Centre Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: R Le Roux
J G S Macdonald





REGISTERED OFFICE: 1C Amberside
Wood Lane
Paradise Industrial Estate
Hemel Hempstead
Hertfordshire
HP2 4TP





REGISTERED NUMBER: 09856507 (England and Wales)





ACCOUNTANTS: Farrell & Co
1C Amberside
Wood Lane
Hemel Hempstead
Hertfordshire
HP2 4TP

Motorcycle Service Centre Limited (Registered number: 09856507)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,448 24,807
18,448 24,807

CURRENT ASSETS
Stocks 31,456 35,455
Debtors 6 5,612 38,391
Cash at bank and in hand 106,780 113,341
143,848 187,187
CREDITORS
Amounts falling due within one year 7 59,705 66,766
NET CURRENT ASSETS 84,143 120,421
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,591

145,228

CREDITORS
Amounts falling due after more than one year 8 (30,939 ) (35,974 )

PROVISIONS FOR LIABILITIES (3,242 ) (4,433 )
NET ASSETS 68,410 104,821

CAPITAL AND RESERVES
Called up share capital 220 220
Retained earnings 9 68,190 104,601
68,410 104,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Motorcycle Service Centre Limited (Registered number: 09856507)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





J G S Macdonald - Director


Motorcycle Service Centre Limited (Registered number: 09856507)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Motorcycle Service Centre Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% 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.

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


Motorcycle Service Centre Limited (Registered number: 09856507)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 352,024
AMORTISATION
At 1 November 2022
and 31 October 2023 352,024
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

Motorcycle Service Centre Limited (Registered number: 09856507)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 12,325 32,768 25,632 70,725
DEPRECIATION
At 1 November 2022 8,024 32,768 5,126 45,918
Charge for year 1,233 - 5,126 6,359
At 31 October 2023 9,257 32,768 10,252 52,277
NET BOOK VALUE
At 31 October 2023 3,068 - 15,380 18,448
At 31 October 2022 4,301 - 20,506 24,807

6. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Trade debtors 5,612 17,791

Amounts falling due after more than one year:
Other debtors - 20,600

Aggregate amounts 5,612 38,391

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 4,963 4,843
Trade creditors 23,715 24,321
Taxation and social security 14,957 20,679
Other creditors 16,070 16,923
59,705 66,766

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 30,939 35,974

Motorcycle Service Centre Limited (Registered number: 09856507)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. RESERVES
Retained
earnings
£   

At 1 November 2022 104,601
Deficit for the year (36,411 )
At 31 October 2023 68,190