Registered number
12250616
Motor Ninjas Limited
Filleted Accounts
31 March 2024
Motor Ninjas Limited
Registered number: 12250616
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 39,590 40,825
Current assets
Stocks 20,000 25,699
Debtors 4 16,455 13,056
Cash at bank and in hand 101,178 87,392
137,633 126,147
Creditors: amounts falling due within one year 5 (62,107) (66,907)
Net current assets 75,526 59,240
Total assets less current liabilities 115,116 100,065
Creditors: amounts falling due after more than one year 6 (66,390) (74,418)
Net assets 48,726 25,647
Capital and reserves
Called up share capital 4 4
Profit and loss account 48,722 25,643
Shareholders' funds 48,726 25,647
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P N Howls
Director
Approved by the board on 30 November 2024
Motor Ninjas Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Office equipment over 4 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 63,154 566 3,100 66,820
Additions 6,604 - - 6,604
At 31 March 2024 69,758 566 3,100 73,424
Depreciation
At 1 April 2023 23,194 476 2,325 25,995
Charge for the year 6,974 90 775 7,839
At 31 March 2024 30,168 566 3,100 33,834
Net book value
At 31 March 2024 39,590 - - 39,590
At 31 March 2023 39,960 90 775 40,825
4 Debtors 2024 2023
£ £
Trade debtors 16,455 13,056
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 48,659 58,473
Taxation and social security costs 11,948 6,934
Other creditors 1,500 1,500
62,107 66,907
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 21,667 31,667
Directors loan account 44,723 42,751
66,390 74,418
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 22,750 25,000
8 Controlling party
The company is controlled by the director.
9 Other information
Motor Ninjas Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Brackens
Gloucester Road
Staverton
Cheltenham
Glos
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