Company registration number 04500721 (England and Wales)
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
The following pages do not form part of the statutory financial statements
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,912
4,513
Current assets
Debtors
5
4,300
7,757
Cash at bank and in hand
34,557
15,977
38,857
23,734
Creditors: amounts falling due within one year
6
(35,352)
(28,112)
Net current assets/(liabilities)
3,505
(4,378)
Net assets
6,417
135
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
6,317
35
Total equity
6,417
135
The notes on pages 2 to 5 form part of these financial statements.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 5 September 2024
..............................................
Mr R S T Cartwright
Director
Company registration number 04500721 (England and Wales)
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Brighouse Motorcycle Training Centre Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35 Westgate, Huddersfield, HD1 1PA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially recorded at cost and subsequently measured at cost less accumulated 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:
Leasehold improvements
33.3% straight line
Motorbikes and equipment
25% reducing balance
In the year of acquisition tangible fixed assets are depreciated from 1 April.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at the date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
1.6
Retirement benefits
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs is the contributions payable in the year.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
3
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Tangible fixed assets
Leasehold improvements
Motorbikes and equipment
Total
£
£
£
Cost
At 1 April 2023
2,820
18,684
21,504
Additions
1,020
1,020
Disposals
(5,312)
(5,312)
At 31 March 2024
2,820
14,392
17,212
Depreciation and impairment
At 1 April 2023
2,820
14,171
16,991
Depreciation charged in the year
970
970
Eliminated in respect of disposals
(3,661)
(3,661)
At 31 March 2024
2,820
11,480
14,300
Carrying amount
At 31 March 2024
2,912
2,912
At 31 March 2023
4,513
4,513
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
236
Prepayments and accrued income
4,300
7,521
4,300
7,757
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
194
73
Other creditors
12,958
14,042
Accruals and deferred income
22,200
13,997
35,352
28,112
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
BRIGHOUSE MOTORCYCLE TRAINING CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
8
Related party transactions
Transactions with the director
Included in other creditors is the amount of £3,280 (2023: £3,280) which represents a loan due to the director. This loan is unsecured, repayable on demand and currently interest free.
Included in other creditors is the amount of £9,678 (2023: £10,762) which represents a loan due to Futurebegin Limited, a company under common control. This loan is unsecured, repayable on demand and currently interest free.
Control of the company
The company is controlled by Mr R S T Cartwright.