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Registered number: 07429529









THE MOTORHOUSE (INVESTMENT HOLDINGS) LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE MOTORHOUSE (INVESTMENT HOLDINGS) LIMITED
REGISTERED NUMBER: 07429529

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
  
100
100

  
100
100

Current assets
  

Debtors: amounts falling due within one year
 4 
2,945,978
3,206,929

Cash at bank and in hand
  
38,940
47,542

  
2,984,918
3,254,471

Creditors: amounts falling due within one year
 5 
(1,140)
(270,693)

Net current assets
  
 
 
2,983,778
 
 
2,983,778

Total assets less current liabilities
  
2,983,878
2,983,878

  

Net assets
  
2,983,878
2,983,878


Capital and reserves
  

Called up share capital 
 6 
1,459,000
1,459,000

Capital redemption reserve
  
850,000
850,000

Profit and loss account
  
674,878
674,878

  
2,983,878
2,983,878


Page 1

 
THE MOTORHOUSE (INVESTMENT HOLDINGS) LIMITED
REGISTERED NUMBER: 07429529
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

For the year ended 31 December 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2024.




Sally Anne Murrall-Smith
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
THE MOTORHOUSE (INVESTMENT HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is registered in England and Wales and the registered office is Stanley House, 27 Wellington Road, Bilston, West Midlands WV14 6AH. The principal activity continues to be that of an investment holding company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Page 3

 
THE MOTORHOUSE (INVESTMENT HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Financial instruments (continued)


Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
THE MOTORHOUSE (INVESTMENT HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
2,945,978
3,206,929

2,945,978
3,206,929



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
1,140
270,693

1,140
270,693



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



167,000 (2022 - 167,000) ordinary shares of £1.00 each
167,000
167,000
450,000 (2022 - 450,000) "A" preference shares shares of £1.00 each
450,000
450,000
842,000 (2022 - 842,000) "B" preference shares shares of £1.00 each
842,000
842,000

1,459,000

1,459,000


All preference shares hold the same voting rights as oridnary shares and rank pari passu as one class of shares in all cases. All preference shares are redeemable at par vale at the option of the company upon not less than thirty days notice. 


7.


Prior year adjustment

A prior year adjustment was made in the year in relation to the redemption of the 850,000 'C' preference shares on 17 January 2020. A capital redemption reserve has been created and the movement applied from the profit and loss reserve which was omitted in the financial statements for the year ended 31 December 2020.

Page 5