Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31import, wholesale and internet sale of micro scooters and accessories.2023-04-0136falsefalsefalse43true 05196465 2023-04-01 2024-03-31 05196465 2022-04-01 2023-03-31 05196465 2024-03-31 05196465 2023-03-31 05196465 c:CompanySecretary1 2023-04-01 2024-03-31 05196465 c:Director1 2023-04-01 2024-03-31 05196465 c:Director2 2023-04-01 2024-03-31 05196465 c:Director3 2023-04-01 2024-03-31 05196465 c:RegisteredOffice 2023-04-01 2024-03-31 05196465 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 05196465 d:Buildings d:LongLeaseholdAssets 2024-03-31 05196465 d:Buildings d:LongLeaseholdAssets 2023-03-31 05196465 d:FurnitureFittings 2023-04-01 2024-03-31 05196465 d:FurnitureFittings 2024-03-31 05196465 d:FurnitureFittings 2023-03-31 05196465 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05196465 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05196465 d:ComputerSoftware 2024-03-31 05196465 d:ComputerSoftware 2023-03-31 05196465 d:CurrentFinancialInstruments 2024-03-31 05196465 d:CurrentFinancialInstruments 2023-03-31 05196465 d:CurrentFinancialInstruments 1 2024-03-31 05196465 d:CurrentFinancialInstruments 1 2023-03-31 05196465 d:CurrentFinancialInstruments 6 2024-03-31 05196465 d:CurrentFinancialInstruments 6 2023-03-31 05196465 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05196465 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05196465 d:ShareCapital 2024-03-31 05196465 d:ShareCapital 2023-03-31 05196465 d:RetainedEarningsAccumulatedLosses 2024-03-31 05196465 d:RetainedEarningsAccumulatedLosses 2023-03-31 05196465 c:OrdinaryShareClass1 2023-04-01 2024-03-31 05196465 c:OrdinaryShareClass1 2024-03-31 05196465 c:OrdinaryShareClass1 2023-03-31 05196465 c:OrdinaryShareClass2 2023-04-01 2024-03-31 05196465 c:OrdinaryShareClass2 2024-03-31 05196465 c:OrdinaryShareClass2 2023-03-31 05196465 c:OrdinaryShareClass3 2023-04-01 2024-03-31 05196465 c:OrdinaryShareClass3 2024-03-31 05196465 c:OrdinaryShareClass3 2023-03-31 05196465 c:OrdinaryShareClass4 2023-04-01 2024-03-31 05196465 c:OrdinaryShareClass4 2024-03-31 05196465 c:OrdinaryShareClass4 2023-03-31 05196465 c:FRS102 2023-04-01 2024-03-31 05196465 c:Audited 2023-04-01 2024-03-31 05196465 c:FullAccounts 2023-04-01 2024-03-31 05196465 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05196465 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05196465 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 05196465 7 2023-04-01 2024-03-31 05196465 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 05196465 f:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 05196465












MICRO SCOOTERS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 

MICRO SCOOTERS LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Notes to the financial statements
 
3 - 12


 

MICRO SCOOTERS LIMITED
 
COMPANY INFORMATION


Directors
A Gibson 
B T Gibson 
P M Gogarty 




Company secretary
A Gibson



Registered number
05196465



Registered office
110 Coast Road
West Mersea

Colchester

Essex

CO5 8NA




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:05196465
MICRO SCOOTERS LIMITED

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
25,722
33,096

Tangible assets
 5 
23,289
19,157

  
49,011
52,253

Current assets
  

Stocks
  
1,724,849
2,575,776

Debtors: amounts falling due within one year
 6 
843,655
1,088,080

Cash at bank and in hand
 7 
2,280,225
1,309,403

  
4,848,729
4,973,259

Creditors: amounts falling due within one year
 8 
(844,283)
(1,257,053)

Net current assets
  
 
 
4,004,446
 
 
3,716,206

Total assets less current liabilities
  
4,053,457
3,768,459

Provisions for liabilities
  

Deferred tax
  
(2,686)
(2,686)

Net assets
  
 
 
4,050,771
 
 
3,765,773


Capital and reserves
  

Called up share capital 
 9 
118
118

Profit and loss account
  
4,050,653
3,765,655

Total equity
  
4,050,771
3,765,773


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 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 by: 




A Gibson
P M Gogarty
Director
Director


Date: 24 October 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Micro Scooters Limited is a private Company limited by shares incorporated in England and Wales. The address of its registered office is 110 Coast Road, West Mersea, Essex, United Kingdom, CO5 8NA. 
The financial statements are presented in Sterling (£), which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence to meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements are approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Sterling (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'cost of sales'.

Page 3

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. Intangible assets are amortised over three years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical 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.

Page 5

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over 5 years
Fixtures and fittings
-
Over 3 years

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.10

Stocks

Stocks represents micro scooters and related accessories for resale and are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell. Cost is based on the cost of purchase on a weighted average basis. Finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.14

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. 
 
The Company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derivative contracts 
Derivatives contracts, including interest rate swaps and foreign exchange forward contracts, are not basic financial instruments. 
Derivatives contracts are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in interest payable and similar expenses or interest receivable and similar income as appropriate. 
 
Page 7

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are 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 profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

Derivative contracts 
Derivatives contracts, including interest rate swaps and foreign exchange forward contracts, are not basic financial instruments. 
Derivatives contracts are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in interest payable and similar expenses or interest receivable and similar income as appropriate. 
 
Page 8

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are 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 profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.16

Share Capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

Page 9

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2023 - 43).


4.


Intangible assets




Computer software

£



Cost


At 1 April 2023
35,038


Additions
3,915



At 31 March 2024

38,953



Amortisation


At 1 April 2023
1,942


Charge for the year
11,289



At 31 March 2024

13,231



Net book value



At 31 March 2024
25,722



At 31 March 2023
33,096



Page 10

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost


At 1 April 2023
164,595
205,066
369,661


Additions
-
15,171
15,171



At 31 March 2024

164,595
220,237
384,832



Depreciation


At 1 April 2023
156,904
193,600
350,504


Charge for the year
1,709
9,330
11,039



At 31 March 2024

158,613
202,930
361,543



Net book value



At 31 March 2024
5,982
17,307
23,289



At 31 March 2023
7,691
11,466
19,157


6.


Debtors

2024
2023
£
£


Trade debtors
674,272
929,358

Prepayments and accrued income
169,383
152,090

Financial instruments
-
6,632

843,655
1,088,080



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,280,225
1,309,403


Page 11

 

MICRO SCOOTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
257,333
651,430

Corporation tax
70,305
92,633

Other taxation and social security
315,639
289,592

Other creditors
-
1,380

Accruals and deferred income
166,861
222,018

Financial instruments
34,145
-

844,283
1,257,053



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary A shares of £1.00 each
100
100
10 (2023 - 10) Ordinary B shares of £1.00 each
10
10
4 (2023 - 4) Ordinary C shares of £1.00 each
4
4
4 (2023 - 4) Ordinary D shares of £1.00 each
4
4

118

118


There are four classes of ordinary shares. The holders of A shares have full voting rights. The holders of B, C and D shares do not have these voting rights.
The board shall be entitled in its absolute discretion to declare dividends on the different classes of shares, or pay dividends on one class of shares but not another.


10.


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 to the personal pension funds of Directors and amounted to £222,653 (2023 - £72,584).  Contributions totalling £7,636 (2023 - £15,811) were payable to the funds at the balance sheet date and are included in creditors.


11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 20 November 2024 by Marc Levy (FCA) (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 12