Company registration number 03184211 (England and Wales)
THE MOTIVATION BUSINESS HOLDING COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE MOTIVATION BUSINESS HOLDING COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
THE MOTIVATION BUSINESS HOLDING COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,008,293
4,040,368
Current assets
Debtors
5
1,168,887
1,096,085
Cash at bank and in hand
79,180
69,842
1,248,067
1,165,927
Creditors: amounts falling due within one year
6
(1,550,058)
(2,169,770)
Net current liabilities
(301,991)
(1,003,843)
Total assets less current liabilities
2,706,302
3,036,525
Creditors: amounts falling due after more than one year
7
(394,566)
(407,312)
Provisions for liabilities
(297,540)
(297,540)
Net assets
2,014,196
2,331,673
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,014,096
2,331,573
Total equity
2,014,196
2,331,673

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 December 2023 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 members have 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 MOTIVATION BUSINESS HOLDING COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 12 September 2024
R Kempson
Director
Company Registration No. 03184211
THE MOTIVATION BUSINESS HOLDING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

The Motivation Business Holding Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fetcham Park, Lower Road, Fetcham, Leatherhead, UK, KT22 9HD.

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.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
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:

Freehold property
No charge
Plant and equipment
25% reducing balance basis per annum
Computers
25% reducing balance basis per annum

Freehold land is not depreciated.

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
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

THE MOTIVATION BUSINESS HOLDING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

THE MOTIVATION BUSINESS HOLDING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

THE MOTIVATION BUSINESS HOLDING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Freehold property
Plant and equipment
Computers
Total
£
£
£
£
Cost
At 1 January 2023
4,029,311
27,131
56,508
4,112,950
Disposals
(1,029,311)
-
0
-
0
(1,029,311)
At 31 December 2023
3,000,000
27,131
56,508
3,083,639
Depreciation and impairment
At 1 January 2023
-
0
18,819
53,763
72,582
Depreciation charged in the year
-
0
2,078
686
2,764
At 31 December 2023
-
0
20,897
54,449
75,346
Carrying amount
At 31 December 2023
3,000,000
6,234
2,059
3,008,293
At 31 December 2022
4,029,311
8,312
2,745
4,040,368

The fair value of the freehold property has been arrived at on the basis of a valuation carried out at by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
262
1,822
Other debtors
1,168,625
1,094,263
1,168,887
1,096,085
THE MOTIVATION BUSINESS HOLDING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
44,953
32,207
Trade creditors
13,437
9,756
Taxation and social security
13,418
9,386
Other creditors
1,478,250
2,118,421
1,550,058
2,169,770

The bank loans are secured against a fixed and floating charge over the freehold land and buildings known as Milton Heath House.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
394,566
407,312

The bank loans are secured against a fixed and floating charge over the freehold land and buildings known as Milton Heath House.

Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
(214,752)
(278,483)
8
Related party transactions

During the year the company provided interest free loans amounting to £981,123 (2022 - £1,082,341) to companies under the common control of the director. These loans have been provided without any formal repayment terms.

During the year the company received an interest free loan of £1,018,401 (2022 - £1,124,875) from a company under the common control of the director. This loan has been provided without any formal repayment terms.

During the year the company received management services amounting to £18,000 (2022 - provided services of £18,000) to companies under the common control of the director.

2023-12-312023-01-01false12 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityR Kempsonfalsefalse031842112023-01-012023-12-31031842112023-12-31031842112022-12-3103184211core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3103184211core:PlantMachinery2023-12-3103184211core:ComputerEquipment2023-12-3103184211core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3103184211core:PlantMachinery2022-12-3103184211core:ComputerEquipment2022-12-3103184211core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103184211core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3103184211core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3103184211core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3103184211core:CurrentFinancialInstruments2023-12-3103184211core:CurrentFinancialInstruments2022-12-3103184211core:ShareCapital2023-12-3103184211core:ShareCapital2022-12-3103184211core:RetainedEarningsAccumulatedLosses2023-12-3103184211core:RetainedEarningsAccumulatedLosses2022-12-3103184211bus:Director12023-01-012023-12-3103184211core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-012023-12-3103184211core:PlantMachinery2023-01-012023-12-3103184211core:ComputerEquipment2023-01-012023-12-31031842112022-01-012022-12-3103184211core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3103184211core:PlantMachinery2022-12-3103184211core:ComputerEquipment2022-12-31031842112022-12-3103184211core:WithinOneYear2023-12-3103184211core:WithinOneYear2022-12-3103184211core:Non-currentFinancialInstruments2023-12-3103184211core:Non-currentFinancialInstruments2022-12-3103184211bus:PrivateLimitedCompanyLtd2023-01-012023-12-3103184211bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103184211bus:FRS1022023-01-012023-12-3103184211bus:AuditExemptWithAccountantsReport2023-01-012023-12-3103184211bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP