Company registration number 12767193 (England and Wales)
ALBION MOTION COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
ALBION MOTION COMPANY LIMITED
COMPANY INFORMATION
Director
Mrs H Willitts
Company number
12767193
Registered office
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
West Midlands
England
B62 8DY
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
ALBION MOTION COMPANY LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 8
ALBION MOTION COMPANY LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF ALBION MOTION COMPANY LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Albion Motion Company Limited for the year ended 31 January 2024 which comprise, the statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Albion Motion Company Limited, as a body, in accordance with the terms of our engagement letter dated 27 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Albion Motion Company Limited and state those matters that we have agreed to state to the board of directors of Albion Motion Company Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Albion Motion Company Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Albion Motion Company Limited 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 Albion Motion Company Limited. You consider that Albion Motion Company Limited 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 Albion Motion Company Limited. 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.

Jerroms GCN Limited
16 October 2024
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
ALBION MOTION COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
17,153
-
0
Tangible assets
4
156,243
13,467
173,396
13,467
Current assets
Stocks
5
2,829,477
1,885,147
Debtors
6
367,001
36,864
Cash at bank and in hand
2,408
68,439
3,198,886
1,990,450
Creditors: amounts falling due within one year
7
(475,784)
(2,116,500)
Net current assets/(liabilities)
2,723,102
(126,050)
Total assets less current liabilities
2,896,498
(112,583)
Creditors: amounts falling due after more than one year
8
(3,000,000)
-
0
Net liabilities
(103,502)
(112,583)
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
(103,602)
(112,683)
Total equity
(103,502)
(112,583)

The notes on pages 4 to 8 form part of these financial statements.

ALBION MOTION COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

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 member has 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 financial statements were approved and signed by the director and authorised for issue on 16 October 2024
Mrs H Willitts
Director
Company Registration No. 12767193
ALBION MOTION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

Albion Motion Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Point, Second Floor, Mucklow Office Park, Mucklow Hill, Halesowen, West Midlands, England, B62 8DY.

1.1
Reporting period

The company started to aquire stock on 1st November 2021 for future sale and has opted to prepare accounts to 31st January . The comparative figures represent an 18 month period to 31st January 2023.

1.2
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. 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.

1.3
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company truewill continue to receive adequate support from herself and her associates to enable the company to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Intangible fixed assets other than goodwill

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:

Software
3 years on cost
1.5
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.

ALBION MOTION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -

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:

Leasehold improvements
over the lease period
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
3 years on cost

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.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

ALBION MOTION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 6 -
1.9
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
Employees

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

2024
2023
Number
Number
Total
1
1
3
Intangible fixed assets
Software
£
Cost
At 1 February 2023
-
0
Additions
23,750
At 31 January 2024
23,750
Amortisation and impairment
At 1 February 2023
-
0
Amortisation charged for the year
6,597
At 31 January 2024
6,597
Carrying amount
At 31 January 2024
17,153
At 31 January 2023
-
0
ALBION MOTION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 February 2023
-
0
16,263
-
0
-
0
16,263
Additions
10,153
124,006
20,564
1,360
156,083
At 31 January 2024
10,153
140,269
20,564
1,360
172,346
Depreciation and impairment
At 1 February 2023
-
0
2,796
-
0
-
0
2,796
Depreciation charged in the year
168
11,466
1,473
200
13,307
At 31 January 2024
168
14,262
1,473
200
16,103
Carrying amount
At 31 January 2024
9,985
126,007
19,091
1,160
156,243
At 31 January 2023
-
0
13,467
-
0
-
0
13,467
5
Stocks
2024
2023
£
£
Stocks
2,829,477
1,885,147
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
192,373
36,864
Prepayments and accrued income
174,628
-
0
367,001
36,864

Amounts due from related parties are repayable on demand.

7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
9,240
90,604
Other creditors
459,427
2,005,208
Accruals and deferred income
7,117
20,688
475,784
2,116,500
ALBION MOTION COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
7
Creditors: amounts falling due within one year
(Continued)
- 8 -

Amounts due to related parties are repayable on demand.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,000,000
-
0
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
1,750,311
-
0
2024-01-312023-02-01true16 October 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMrs H Willittsfalsefalse127671932023-02-012024-01-3112767193bus:Director12023-02-012024-01-3112767193bus:RegisteredOffice2023-02-012024-01-31127671932024-01-31127671932023-01-3112767193core:IntangibleAssetsOtherThanGoodwill2024-01-3112767193core:IntangibleAssetsOtherThanGoodwill2023-01-3112767193core:LeaseholdImprovements2024-01-3112767193core:PlantMachinery2024-01-3112767193core:FurnitureFittings2024-01-3112767193core:ComputerEquipment2024-01-3112767193core:LeaseholdImprovements2023-01-3112767193core:PlantMachinery2023-01-3112767193core:FurnitureFittings2023-01-3112767193core:ComputerEquipment2023-01-3112767193core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3112767193core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3112767193core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3112767193core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3112767193core:CurrentFinancialInstruments2024-01-3112767193core:CurrentFinancialInstruments2023-01-3112767193core:ShareCapital2024-01-3112767193core:ShareCapital2023-01-3112767193core:RetainedEarningsAccumulatedLosses2024-01-3112767193core:RetainedEarningsAccumulatedLosses2023-01-3112767193core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3112767193core:ComputerSoftware2023-02-012024-01-3112767193core:LeaseholdImprovements2023-02-012024-01-3112767193core:PlantMachinery2023-02-012024-01-3112767193core:FurnitureFittings2023-02-012024-01-3112767193core:ComputerEquipment2023-02-012024-01-31127671932021-08-012023-01-3112767193core:IntangibleAssetsOtherThanGoodwill2023-01-3112767193core:LeaseholdImprovements2023-01-3112767193core:PlantMachinery2023-01-3112767193core:FurnitureFittings2023-01-3112767193core:ComputerEquipment2023-01-31127671932023-01-3112767193core:Non-currentFinancialInstruments12024-01-3112767193core:Non-currentFinancialInstruments12023-01-3112767193bus:EntityHasNeverTraded2023-02-012024-01-3112767193bus:PrivateLimitedCompanyLtd2023-02-012024-01-3112767193bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3112767193bus:FRS1022023-02-012024-01-3112767193bus:AuditExemptWithAccountantsReport2023-02-012024-01-3112767193bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP