Company registration number SC462439 (Scotland)
MOTOJOE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MOTOJOE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MOTOJOE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
60,000
70,000
Tangible assets
5
29,971
32,861
89,971
102,861
Current assets
Stocks
4,674
4,855
Debtors
6
24,759
15,624
Cash at bank and in hand
19,034
8,187
48,467
28,666
Creditors: amounts falling due within one year
7
(473,113)
(430,394)
Net current liabilities
(424,646)
(401,728)
Net liabilities
(334,675)
(298,867)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(334,775)
(298,967)
Total equity
(334,675)
(298,867)

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 2 May 2024
J E Philipsz
Director
Company registration number SC462439 (Scotland)
MOTOJOE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Motojoe Limited is a private company limited by shares incorporated in Scotland. The registered office is 3 Blinkbonny Grove, Edinburgh, Midlothian, EH4 3HH.

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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill represents the cost to acquire the rights to develop and operate a tours business. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line
Motor vehicles
25% reducing balance

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.

1.5
Stocks

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

 

 

 

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

MOTOJOE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
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:

2023
2022
Number
Number
Total
3
2
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
100,000
Amortisation and impairment
At 1 January 2023
30,000
Amortisation charged for the year
10,000
At 31 December 2023
40,000
Carrying amount
At 31 December 2023
60,000
At 31 December 2022
70,000
MOTOJOE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Tangible fixed assets
Leasehold improvements
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
18,125
24,071
42,196
Additions
3,400
-
0
3,400
At 31 December 2023
21,525
24,071
45,596
Depreciation and impairment
At 1 January 2023
1,813
7,522
9,335
Depreciation charged in the year
2,153
4,137
6,290
At 31 December 2023
3,966
11,659
15,625
Carrying amount
At 31 December 2023
17,559
12,412
29,971
At 31 December 2022
16,312
16,549
32,861
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,024
-
0
Other debtors
6,573
7,862
Prepayments and accrued income
17,162
7,762
24,759
15,624
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,384
974
Other creditors
441,030
380,173
Accruals and deferred income
30,699
49,247
473,113
430,394
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
MOTOJOE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
124,950
-
0
2023-12-312023-01-01false02 May 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityJ E PhilipszJ E PhilipszfalsefalseSC4624392023-01-012023-12-31SC4624392023-12-31SC4624392022-12-31SC462439core:NetGoodwill2023-12-31SC462439core:NetGoodwill2022-12-31SC462439core:LeaseholdImprovements2023-12-31SC462439core:MotorVehicles2023-12-31SC462439core:LeaseholdImprovements2022-12-31SC462439core:MotorVehicles2022-12-31SC462439core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-31SC462439core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-31SC462439core:CurrentFinancialInstruments2023-12-31SC462439core:CurrentFinancialInstruments2022-12-31SC462439core:ShareCapital2023-12-31SC462439core:ShareCapital2022-12-31SC462439core:RetainedEarningsAccumulatedLosses2023-12-31SC462439core:RetainedEarningsAccumulatedLosses2022-12-31SC462439bus:Director12023-01-012023-12-31SC462439core:Goodwill2023-01-012023-12-31SC462439core:LeaseholdImprovements2023-01-012023-12-31SC462439core:MotorVehicles2023-01-012023-12-31SC4624392022-01-012022-12-31SC462439core:NetGoodwill2022-12-31SC462439core:NetGoodwill2023-01-012023-12-31SC462439core:LeaseholdImprovements2022-12-31SC462439core:MotorVehicles2022-12-31SC4624392022-12-31SC462439bus:PrivateLimitedCompanyLtd2023-01-012023-12-31SC462439bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC462439bus:FRS1022023-01-012023-12-31SC462439bus:AuditExemptWithAccountantsReport2023-01-012023-12-31SC462439bus:CompanySecretary12023-01-012023-12-31SC462439bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP