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REGISTERED NUMBER: 06728905 (England and Wales)















Majestic Self Drive Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Majestic Self Drive Limited (Registered number: 06728905)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Majestic Self Drive Limited

Company Information
for the Year Ended 31 December 2023







Directors: Warren Geoffrey Nicholls
Rebecca Jane Nicholls





Registered office: Henry Lee Street
Bolton
BL3 3PT





Registered number: 06728905 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Majestic Self Drive Limited (Registered number: 06728905)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 40,000 48,000
Tangible assets 5 138,107 27,300
178,107 75,300

Current assets
Debtors 6 10,590 8,806
Cash at bank and in hand 15,944 29,979
26,534 38,785
Creditors
Amounts falling due within one year 7 81,458 59,899
Net current liabilities (54,924 ) (21,114 )
Total assets less current liabilities 123,183 54,186

Creditors
Amounts falling due after more than
one year

8

268,273

172,273
Net liabilities (145,090 ) (118,087 )

Capital and reserves
Called up share capital 9 1,000 1,000
Retained earnings (146,090 ) (119,087 )
Shareholders' funds (145,090 ) (118,087 )

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.

Majestic Self Drive Limited (Registered number: 06728905)

Statement of Financial Position - continued
31 December 2023


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 25 September 2024 and were signed on its behalf by:





Warren Geoffrey Nicholls - Director


Majestic Self Drive Limited (Registered number: 06728905)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. Statutory information

Majestic Self Drive 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 receivable for vehicle servicing and MOT's and storage facilities provided by the company during the year.

Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful lfe. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance and 20% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Majestic Self Drive Limited (Registered number: 06728905)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The company relies upon the financial support of its directors in respect of their undrawn loan accounts to facilitate a continuation of its trading activity. The directors have agreed to only withdraw from their loan accounts in small tranches, as and when cashflow permits. Therefore the directors are able to prepare the financial statements on the basis of the going concern concept.

3. Employees and directors

The average number of employees during the year was 5 (2022 - 5 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2023
and 31 December 2023 80,000
Amortisation
At 1 January 2023 32,000
Amortisation for year 8,000
At 31 December 2023 40,000
Net book value
At 31 December 2023 40,000
At 31 December 2022 48,000

Majestic Self Drive Limited (Registered number: 06728905)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Cost
At 1 January 2023 - 54,725 10,763 65,488
Additions 92,071 27,930 - 120,001
Disposals - (4,595 ) (2,525 ) (7,120 )
At 31 December 2023 92,071 78,060 8,238 178,369
Depreciation
At 1 January 2023 - 32,534 5,654 38,188
Charge for year - 7,810 1,045 8,855
Eliminated on disposal - (4,433 ) (2,348 ) (6,781 )
At 31 December 2023 - 35,911 4,351 40,262
Net book value
At 31 December 2023 92,071 42,149 3,887 138,107
At 31 December 2022 - 22,191 5,109 27,300

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 4,017 4,827
Other debtors 6,573 3,979
10,590 8,806

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loan 4,000 4,000
Trade creditors 14,710 2,944
Taxation and social security 352 5,677
Other creditors 62,396 47,278
81,458 59,899

Majestic Self Drive Limited (Registered number: 06728905)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loan 8,273 12,273
Other creditors 260,000 160,000
268,273 172,273

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary 1 1,000 1,000