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REGISTERED NUMBER: 12024199 (England and Wales)










Motus Parts Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024






Motus Parts Ltd (Registered number: 12024199)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

Motus Parts Ltd

Company Information
for the year ended 31 May 2024







DIRECTORS: A J Oldham
K M Johnson
Mrs C Smith





REGISTERED OFFICE: Unit 6 Skelton Industrial Estate
Skelton Road, Cross Hills
Keighley
West Yorkshire
BD20 7BY





REGISTERED NUMBER: 12024199 (England and Wales)





ACCOUNTANTS: Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

Motus Parts Ltd (Registered number: 12024199)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 136,462 70,095

CURRENT ASSETS
Stocks 707,983 765,798
Debtors 5 732,674 493,552
Cash at bank 671,653 256,406
2,112,310 1,515,756
CREDITORS
Amounts falling due within one year 6 (847,271 ) (631,473 )
NET CURRENT ASSETS 1,265,039 884,283
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,401,501

954,378

CREDITORS
Amounts falling due after more than one
year

7

(33,109

)

(18,089

)

PROVISIONS FOR LIABILITIES (33,243 ) (16,622 )
NET ASSETS 1,335,149 919,667

CAPITAL AND RESERVES
Called up share capital 125 125
Share premium 19,975 19,975
Retained earnings 1,315,049 899,567
1,335,149 919,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Motus Parts Ltd (Registered number: 12024199)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





K M Johnson - Director


Motus Parts Ltd (Registered number: 12024199)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Motus Parts Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Motus Parts Ltd (Registered number: 12024199)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement.

Impairment of fixed assets
At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an 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 the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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


Motus Parts Ltd (Registered number: 12024199)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Government grants
Government grants are accounted for under the accrual model.

Grants received relating to revenue are recognised as income on a systematic basis over the periods in which the company recognises the related cost for which the grant is intended to compensate.

Grants received to give immediate financial support are recognised as income in the period in which they become receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Motus Parts Ltd (Registered number: 12024199)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 116,145
Additions 98,432
Disposals (24,000 )
At 31 May 2024 190,577
DEPRECIATION
At 1 June 2023 46,050
Charge for year 26,815
Eliminated on disposal (18,750 )
At 31 May 2024 54,115
NET BOOK VALUE
At 31 May 2024 136,462
At 31 May 2023 70,095

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 64,400
Additions 59,151
Disposals (24,000 )
At 31 May 2024 99,551
DEPRECIATION
At 1 June 2023 26,417
Eliminated on disposal (18,750 )
At 31 May 2024 7,667
NET BOOK VALUE
At 31 May 2024 91,884
At 31 May 2023 37,983

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 728,741 487,751
Other debtors - 814
Prepayments 3,933 4,987
732,674 493,552

Motus Parts Ltd (Registered number: 12024199)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 8) 30,233 16,447
Trade creditors 278,684 191,698
Tax 133,196 156,374
Social security and other taxes 4,518 3,092
VAT 155,357 176,014
Other creditors 184,566 50,000
Directors' current accounts - 34,118
Accrued expenses 60,717 3,730
847,271 631,473

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 8) 33,109 18,089

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 30,233 16,447
Between one and five years 33,109 18,089
63,342 34,536

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year 53,785 51,600
Between one and five years 40,405 51,600
94,190 103,200

9. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,606 (2023 -: £1,195) Contributions totalling £ 1,466 (2023 - £NIL) were payable to the fund at the reporting date and are included in other creditors.

Motus Parts Ltd (Registered number: 12024199)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

10. RELATED PARTY DISCLOSURES

Included within other creditors is an amount of £140,000 (2023: £NIL) due to a company controlled by the
director. The balance is interest free and repayable on demand.

Included within other creditors is an amount of £43,100 (2023: £NIL) due to a company controlled by the
director. The balance is interest free and repayable on demand.

The controlling party is K M Johnson.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Motus Parts Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Motus Parts Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Motus Parts Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Motus Parts Ltd and state those matters that we have agreed to state to the Board of Directors of Motus Parts Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Motus Parts Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Motus Parts Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Motus Parts Ltd. You consider that Motus Parts Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Motus Parts Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ


Date: .............................................