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REGISTERED NUMBER: 01113282 (England and Wales)












REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page


Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Notes to the Consolidated Financial Statements 13


THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: P Alves
D Boulton
A D Campbell
F Cazzoli
G M C Cheeseman
H C Dale
P R De Lusignan
N Fletcher
K A Howells
A J Kelley
M S Walker
D R Clements
M R Loydall
J D Robinson
S F Reynolds





SECRETARY: K A Pahnke





REGISTERED OFFICE: 1 Rye Hill Office Park
Birmingham Road Allesley
Coventry
West Midlands
CV5 9AB





REGISTERED NUMBER: 01113282 (England and Wales)





AUDITORS: Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditors
Seven Stars House
1 Wheler Road
Coventry
CV3 4LB

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

REPORT OF THE DIRECTORS
for the year ended 31 March 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of an industry membership organisation and events management services.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

P Alves
D Boulton
A D Campbell
F Cazzoli
G M C Cheeseman
H C Dale
P R De Lusignan
N Fletcher
K A Howells
A J Kelley
M S Walker

Other changes in directors holding office are as follows:

R Jordan - resigned 1 April 2023
M G Knight - resigned 22 September 2023
P J Lyons - resigned 1 April 2023
A R Mayo - resigned 31 March 2024
S F Reynolds - resigned 22 January 2024
D R Clements - appointed 1 April 2023
M R Loydall - appointed 1 April 2023
J D Robinson - appointed 15 March 2024

S F Reynolds was appointed as a director after 31 March 2024 but prior to the date of this report.

M A Niblett ceased to be a director after 31 March 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the surplus or deficit of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

REPORT OF THE DIRECTORS
for the year ended 31 March 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A D Campbell - Director


16 October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED

Opinion
We have audited the financial statements of The Motor Cycle Industry Association Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's surplus for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company must comply in the ordinary course of its business.

Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole.

As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non-compliance is greater where compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Gregg Olner MPhil BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditors
Seven Stars House
1 Wheler Road
Coventry
CV3 4LB

16 October 2024

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

CONSOLIDATED
INCOME STATEMENT
for the year ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 4,316,512 3,961,807

Cost of sales 2,360,819 2,369,080
GROSS SURPLUS 1,955,693 1,592,727

Administrative expenses 1,694,354 1,535,660
261,339 57,067

Other operating income 10,352 5,946
OPERATING SURPLUS 4 271,691 63,013

Interest receivable and similar income 51,546 12,494
SURPLUS BEFORE TAXATION 323,237 75,507

Tax on surplus 17,243 15,442
SURPLUS FOR THE FINANCIAL YEAR 305,994 60,065
Surplus attributable to:
Owners of the parent 305,994 60,065

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
for the year ended 31 March 2024

2024 2023
Notes £    £   

SURPLUS FOR THE YEAR 305,994 60,065


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

305,994

60,065

Total comprehensive income attributable to:
Owners of the parent 305,994 60,065

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

CONSOLIDATED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 655,722 657,036
Investments 8 - -
655,722 657,036

CURRENT ASSETS
Debtors 9 619,424 594,586
Cash at bank 2,518,508 2,110,659
3,137,932 2,705,245
CREDITORS
Amounts falling due within one year 10 333,517 208,138
NET CURRENT ASSETS 2,804,415 2,497,107
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,460,137

3,154,143

RESERVES
Income and expenditure account 3,460,137 3,154,143
3,460,137 3,154,143

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:




A D Campbell - Director



N Fletcher - Director


THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

COMPANY BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 655,722 657,036
Investments 8 102 102
655,824 657,138

CURRENT ASSETS
Debtors 9 1,001,583 1,071,806
Cash at bank 2,046,076 1,676,728
3,047,659 2,748,534
CREDITORS
Amounts falling due within one year 10 278,961 168,478
NET CURRENT ASSETS 2,768,698 2,580,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,424,522

3,237,194

RESERVES
Income and expenditure account 3,424,522 3,237,194
3,424,522 3,237,194

Company's profit for the financial year 187,328 173,506

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:




A D Campbell - Director



N Fletcher - Director


THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2024

Retained Total
earnings equity
£    £   
Balance at 1 April 2022 3,094,078 3,094,078

Changes in equity
Total comprehensive income 60,065 60,065
Balance at 31 March 2023 3,154,143 3,154,143

Changes in equity
Total comprehensive income 305,994 305,994
Balance at 31 March 2024 3,460,137 3,460,137

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2024

Retained Total
earnings equity
£    £   
Balance at 1 April 2022 3,063,688 3,063,688

Changes in equity
Total comprehensive income 173,506 173,506
Balance at 31 March 2023 3,237,194 3,237,194

Changes in equity
Total comprehensive income 187,328 187,328
Balance at 31 March 2024 3,424,522 3,424,522

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

The Motor Cycle Industry Association Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the General 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Basis of consolidation
The consolidated financial statements incorporate those of The Motor Cycle Industry Association Limited and of its subsidiary undertakings, MCIA Events Limited, British Motorcycle Safety Foundation Limited, The Motor Cycle Industry Trainers Association Limited and The Motor Cycle Accident Repairers Association Limited. All financial statements are made up to 31 March 2024. All transactions and balances between group companies are eliminated on consolidation.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets
Tangible fixed assets are recognised at cost and subsequently measured under the historic cost model being cost less accumulated depreciation and any accumulated impairment losses. Historic cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Depreciation is calculated so as to write off the cost of tangible fixed assets by equal installments over their useful economic lives as follows:

Plant and machinery - 33.3%, 25%, 15%, and 10% on cost.

Any gains or losses on the disposal of tangible fixed assets are recognised in the Income Statement in the period that the disposal takes place.

No depreciation is provided on land and buildings. The company follows a programme of maintenance of its properties, which includes the reinstatement of the fabric of the buildings, where necessary, in order to maintain them to a high standard. Accordingly, in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made.

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. OPERATING SURPLUS

The operating surplus is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 7,685 7,109

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


6. SHOWS

Motor Cycle Live is run by MCIA Events Limited, a wholly-owned subsidiary of The Motor Cycle Industry Association Limited.

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. TANGIBLE FIXED ASSETS

Group
Land and Plant &
buildings machinery Totals
£    £    £   
COST
At 1 April 2023 639,173 328,409 967,582
Additions - 6,371 6,371
At 31 March 2024 639,173 334,780 973,953
DEPRECIATION
At 1 April 2023 - 310,546 310,546
Charge for year - 7,685 7,685
At 31 March 2024 - 318,231 318,231
NET BOOK VALUE
At 31 March 2024 639,173 16,549 655,722
At 31 March 2023 639,173 17,863 657,036

Company
Land and Plant &
buildings machinery Totals
£    £    £   
COST
At 1 April 2023 639,173 328,409 967,582
Additions - 6,371 6,371
At 31 March 2024 639,173 334,780 973,953
DEPRECIATION
At 1 April 2023 - 310,546 310,546
Charge for year - 7,685 7,685
At 31 March 2024 - 318,231 318,231
NET BOOK VALUE
At 31 March 2024 639,173 16,549 655,722
At 31 March 2023 639,173 17,863 657,036

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 102
NET BOOK VALUE
At 31 March 2024 102
At 31 March 2023 102

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

MCIA Events Limited
Registered office: England and Wales
Nature of business: Promoting and managing motorcycle shows.
%
Class of shares: holding
Ordinary 100.00

The British Motorcycle Safety Foundation Limited
Registered office: England and Wales
Nature of business: Dormant training company.
%
Class of shares: holding
Ordinary 100.00

The company is also the sole member of The Motor Cycle Industry Trainers Association Limited and The Motor Cycle Accident Repairers Association Limited, two dormant training companies limited by guarantee. Both of these associations are incorporated in England and Wales.


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 3,655 508 2,199 508
Amounts owed by related undertakings - - 917,148 988,328
Tax - 43,558 - -
VAT 112,747 59,211 22,171 24,196
Prepayments and accrued income 503,022 491,309 60,065 58,774
619,424 594,586 1,001,583 1,071,806

THE MOTOR CYCLE INDUSTRY ASSOCIATION
LIMITED (REGISTERED NUMBER: 01113282)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 85,966 69,600 66,318 55,664
Amounts owed to related undertakings - - 2 2
Tax 17,803 560 8,930 560
Social security and other taxes 42,667 34,016 42,667 34,016
Other creditors 12,143 13,126 1,751 1,924
Accrued expenses 174,938 90,836 159,293 76,312
333,517 208,138 278,961 168,478

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £442,957 (2023 - £411,938)

12. CONTROLLING INTERESTS

There is no overall controlling party.