Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04609425 Mr Micheal Grosvenor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04609425 2022-12-31 04609425 2023-12-31 04609425 2023-01-01 2023-12-31 04609425 frs-core:CurrentFinancialInstruments 2023-12-31 04609425 frs-core:Non-currentFinancialInstruments 2023-12-31 04609425 frs-core:BetweenOneFiveYears 2023-12-31 04609425 frs-core:FurnitureFittings 2023-12-31 04609425 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04609425 frs-core:FurnitureFittings 2022-12-31 04609425 frs-core:MotorVehicles 2023-12-31 04609425 frs-core:MotorVehicles 2023-01-01 2023-12-31 04609425 frs-core:MotorVehicles 2022-12-31 04609425 frs-core:WithinOneYear 2023-12-31 04609425 frs-core:ShareCapital 2023-12-31 04609425 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04609425 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04609425 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04609425 frs-bus:SmallEntities 2023-01-01 2023-12-31 04609425 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04609425 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04609425 frs-bus:Director1 2023-01-01 2023-12-31 04609425 frs-countries:EnglandWales 2023-01-01 2023-12-31 04609425 2021-12-31 04609425 2022-12-31 04609425 2022-01-01 2022-12-31 04609425 frs-core:CurrentFinancialInstruments 2022-12-31 04609425 frs-core:Non-currentFinancialInstruments 2022-12-31 04609425 frs-core:BetweenOneFiveYears 2022-12-31 04609425 frs-core:WithinOneYear 2022-12-31 04609425 frs-core:ShareCapital 2022-12-31 04609425 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04609425
M. J. Grosvenor (Motors) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04609425
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 72,021 95,792
72,021 95,792
CURRENT ASSETS
Debtors 5 26,382 17,679
Cash at bank and in hand 11,796 20,665
38,178 38,344
Creditors: Amounts Falling Due Within One Year 6 (89,661 ) (60,452 )
NET CURRENT ASSETS (LIABILITIES) (51,483 ) (22,108 )
TOTAL ASSETS LESS CURRENT LIABILITIES 20,538 73,684
Creditors: Amounts Falling Due After More Than One Year 7 (20,769 ) (54,557 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,684 ) (18,200 )
NET (LIABILITIES)/ASSETS (13,915 ) 927
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (13,917 ) 925
SHAREHOLDERS' FUNDS (13,915) 927
Page 1
Page 2
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Micheal Grosvenor
Director
12/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M. J. Grosvenor (Motors) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04609425 . The registered office is Grove House, Coombs Wood Court, Halesowen, West Midlands, B62 8BF.
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 goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Motor Vehicles 25% RB
Fixtures & Fittings 15% RB
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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 years 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.
...CONTINUED
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2.5. Taxation - continued
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 assets reflect 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2022: 15)
14 15
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 407,377 10,692 418,069
As at 31 December 2023 407,377 10,692 418,069
Depreciation
As at 1 January 2023 313,347 8,930 322,277
Provided during the period 23,507 264 23,771
As at 31 December 2023 336,854 9,194 346,048
Net Book Value
As at 31 December 2023 70,523 1,498 72,021
As at 1 January 2023 94,030 1,762 95,792
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 25,889 16,815
VAT 493 864
26,382 17,679
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 8,022 27,495
Trade creditors 17,847 6,752
Bank loans and overdrafts 10,898 10,297
Corporation tax 10 3,094
Other taxes and social security 580 735
Accruals and deferred income 10,010 1,050
Director's loan account 42,294 11,029
89,661 60,452
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 23,231
Bank loans 20,769 31,326
20,769 54,557
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 15,627 35,100
Later than one year and not later than five years - 28,935
15,627 64,035
Less: Finance charges allocated to future periods 7,605 13,309
8,022 50,726
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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