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REGISTERED NUMBER: 03473314 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MOTOR PLUS DERBY LIMITED

MOTOR PLUS DERBY LIMITED (REGISTERED NUMBER: 03473314)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MOTOR PLUS DERBY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: B A Humphries
T C Lemon
K Green





Registered office: Chapel Street
Derby
Derbyshire
DE1 3GU





Registered number: 03473314 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP

MOTOR PLUS DERBY LIMITED (REGISTERED NUMBER: 03473314)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 4 5,858 9,144

Current assets
Stocks 5 2,283,298 1,744,184
Debtors 6 691,763 42,767
Cash at bank 568,555 1,505,540
3,543,616 3,292,491
Creditors
Amounts falling due within one year 7 (1,665,334 ) (1,722,445 )
Net current assets 1,878,282 1,570,046
Total assets less current liabilities 1,884,140 1,579,190

Capital and reserves
Called up share capital 8 350,100 350,100
Share premium 18,277 18,277
Retained earnings 1,515,763 1,210,813
Shareholders' funds 1,884,140 1,579,190

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





B A Humphries - Director


MOTOR PLUS DERBY LIMITED (REGISTERED NUMBER: 03473314)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Motor Plus Derby 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on delivery/collection of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 5% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance
Equipment - 20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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

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.

MOTOR PLUS DERBY LIMITED (REGISTERED NUMBER: 03473314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor
improvements machinery vehicles Equipment Totals
£ £ £ £ £
Cost
At 1 January 2023
and 31 December 2023 5,539 54,986 19,540 6,548 86,613
Depreciation
At 1 January 2023 4,386 51,900 16,549 4,634 77,469
Charge for year 294 1,266 687 1,039 3,286
At 31 December 2023 4,680 53,166 17,236 5,673 80,755
Net book value
At 31 December 2023 859 1,820 2,304 875 5,858
At 31 December 2022 1,153 3,086 2,991 1,914 9,144

5. STOCKS
2023 2022
£ £
Vehicle stock and accessories 2,283,298 1,744,184

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 34,535 21,431
Other debtors 176,154 6,597
Directors' current accounts 461,975 489
VAT 6,185 -
Prepayments 12,914 14,250
691,763 42,767

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 1,396,825 1,516,546
Tax 250,888 103,038
PAYE and NIC 12,740 12,387
VAT - 85,736
Other creditors 669 587
Accruals 4,212 4,151
1,665,334 1,722,445

MOTOR PLUS DERBY LIMITED (REGISTERED NUMBER: 03473314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
350,100 Ordinary 1 350,100 350,100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£ £
B A Humphries
Balance outstanding at start of year 489 1,630
Amounts advanced 461,986 859
Amounts repaid (500 ) (2,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 461,975 489