IRIS Accounts Production v24.1.0.578 10568938 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh105689382023-01-31105689382024-01-31105689382023-02-012024-01-31105689382022-01-31105689382022-02-012023-01-31105689382023-01-3110568938ns15:EnglandWales2023-02-012024-01-3110568938ns14:PoundSterling2023-02-012024-01-3110568938ns10:Director12023-02-012024-01-3110568938ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3110568938ns10:SmallEntities2023-02-012024-01-3110568938ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3110568938ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3110568938ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3110568938ns10:FullAccounts2023-02-012024-01-311056893812023-02-012024-01-3110568938ns10:OrdinaryShareClass12023-02-012024-01-3110568938ns5:CurrentFinancialInstruments2024-01-3110568938ns5:CurrentFinancialInstruments2023-01-3110568938ns5:Non-currentFinancialInstruments2024-01-3110568938ns5:Non-currentFinancialInstruments2023-01-3110568938ns5:ShareCapital2024-01-3110568938ns5:ShareCapital2023-01-3110568938ns5:SharePremium2024-01-3110568938ns5:SharePremium2023-01-3110568938ns5:RetainedEarningsAccumulatedLosses2024-01-3110568938ns5:RetainedEarningsAccumulatedLosses2023-01-3110568938ns10:RegisteredOffice2023-02-012024-01-3110568938ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3110568938ns5:PlantMachinery2023-02-012024-01-3110568938ns5:ComputerSoftware2023-01-3110568938ns5:ComputerSoftware2023-02-012024-01-3110568938ns5:ComputerSoftware2024-01-3110568938ns5:ComputerSoftware2023-01-3110568938ns5:PlantMachinery2023-01-3110568938ns5:PlantMachinery2024-01-3110568938ns5:PlantMachinery2023-01-3110568938ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3110568938ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3110568938ns5:CurrentFinancialInstruments2023-02-012024-01-3110568938ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-3110568938ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-3110568938ns10:OrdinaryShareClass12024-01-31105689381ns10:Director12023-01-31105689381ns10:Director12022-01-31105689381ns10:Director12023-02-012024-01-31105689381ns10:Director12022-02-012023-01-31105689381ns10:Director12024-01-31105689381ns10:Director12023-01-31
REGISTERED NUMBER: 10568938 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st January 2024

for

Motormouth Media Limited

Motormouth Media Limited (Registered number: 10568938)






Contents of the Financial Statements
for the Year Ended 31st January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Motormouth Media Limited (Registered number: 10568938)

Balance Sheet
31st January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 566 5,027
Tangible assets 5 1,130 1,187
1,696 6,214

CURRENT ASSETS
Debtors 6 25,416 18,213
Cash at bank - 278
25,416 18,491
CREDITORS
Amounts falling due within one year 7 24,510 15,544
NET CURRENT ASSETS 906 2,947
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,602

9,161

CREDITORS
Amounts falling due after more than one year 8 18,174 19,033
NET LIABILITIES (15,572 ) (9,872 )

CAPITAL AND RESERVES
Called up share capital 9 1,425 1,425
Share premium 153,689 153,689
Retained earnings (170,686 ) (164,986 )
SHAREHOLDERS' FUNDS (15,572 ) (9,872 )

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

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

Motormouth Media Limited (Registered number: 10568938)

Balance Sheet - continued
31st January 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 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 31st October 2024 and were signed on its behalf by:





T D W Silvey - Director


Motormouth Media Limited (Registered number: 10568938)

Notes to the Financial Statements
for the Year Ended 31st January 2024

1. COMPANY INFORMATION

Motormouth Media Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10568938

Registered office: The Lexicon
10-12 Mount Street
Manchester
M2 5NT

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 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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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.

Revenue from contracts for the provision of advertising services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Web and App Development - 20% Straight Line

Motormouth Media Limited (Registered number: 10568938)

Notes to the Financial Statements - continued
for the Year Ended 31st January 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.
Plant and machinery - 33% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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.

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.

Foreign currencies
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.

Going concern
The company manages its day to day working capital requirements through it's banking facilities. In addition, the company retains the support of its shareholders and directors who have committed to continuing this support for the foreseeable future.

The directors feel there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This is supported by the fact that the software app the company has been developing is now live and revenues are being generated. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Motormouth Media Limited (Registered number: 10568938)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1st February 2023
and 31st January 2024 32,074
AMORTISATION
At 1st February 2023 27,047
Amortisation for year 4,461
At 31st January 2024 31,508
NET BOOK VALUE
At 31st January 2024 566
At 31st January 2023 5,027

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st February 2023 3,322
Additions 500
At 31st January 2024 3,822
DEPRECIATION
At 1st February 2023 2,135
Charge for year 557
At 31st January 2024 2,692
NET BOOK VALUE
At 31st January 2024 1,130
At 31st January 2023 1,187

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Amounts owed by associates 2,550 2,550
S455 recoverable 5,391 3,633
Directors' current accounts 15,974 10,765
VAT 236 -
Called up share capital not paid 1,265 1,265
25,416 18,213

Motormouth Media Limited (Registered number: 10568938)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 3,754 3,750
Trade creditors - 1
Amounts owed to associates 3,583 433
s455 payable 5,391 3,633
VAT - 892
Other creditors 8,582 5,235
Accrued expenses 3,200 1,600
24,510 15,544

The bounce back loan is backed by the government and interest is charged at 2.5% for the loan term, which is up to a maximum of 6 years.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans - 2-5 years 18,174 19,033

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
1,425 Share capital 1 1 1,425 1,425

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2024 and 31st January 2023:

31.1.24 31.1.23
£    £   
T D W Silvey
Balance outstanding at start of year 10,764 (2,198 )
Amounts advanced 11,291 18,644
Amounts repaid (6,393 ) (5,682 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,662 10,764

11. RELATED PARTY DISCLOSURES

During the year, the company operated a loan account with Silvey Sports Limited, a related party by common ownership. The company was advanced £3,150 (2023: £Nil) and made repayments totalling £Nil (2023: £Nil) during the year. At the balance sheet date, the company owed £3,583 (2023: £433) to Silvey Sports Limited.

The company also operated another loan account with Silvey & Squires Limited, another related party by common ownership. Silvey Squires Ltd advanced £Nil (2023: £Nil) and repaid £Nil (2023: £2,000) during the year. At the balance sheet date the company was owed £2,550 (£2,550) from Silvey & Squires Limited. These loans are interest free and are repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.