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REGISTERED NUMBER: 06931707 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 June 2024

for

Motion Industrial Products Limited

Motion Industrial Products Limited (Registered number: 06931707)






Contents of the Financial Statements
for the Year Ended 28 June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Motion Industrial Products Limited (Registered number: 06931707)

Balance Sheet
28 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 120,330 75,292

CURRENT ASSETS
Stocks 43,000 52,000
Debtors 5 212,116 211,096
Cash at bank 191,998 149,232
447,114 412,328
CREDITORS
Amounts falling due within one year 6 332,018 344,546
NET CURRENT ASSETS 115,096 67,782
TOTAL ASSETS LESS CURRENT LIABILITIES 235,426 143,074

CREDITORS
Amounts falling due after more than one year 7 (69,527 ) (57,078 )

PROVISIONS FOR LIABILITIES (30,083 ) (14,305 )
NET ASSETS 135,816 71,691

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 135,814 71,689
SHAREHOLDERS' FUNDS 135,816 71,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 January 2025 and were signed by:





N Hordern - Director


Motion Industrial Products Limited (Registered number: 06931707)

Notes to the Financial Statements
for the Year Ended 28 June 2024

1. STATUTORY INFORMATION

Motion Industrial Products 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: 06931707

Registered office: Ebenezer House
Ryecroft
Newcastle-under-Lyme
Staffordshire
ST5 2BE

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.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Motion Industrial Products Limited (Registered number: 06931707)

Notes to the Financial Statements - continued
for the Year Ended 28 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company'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 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 29 June 2023 15,156 462 107,061 4,965 127,644
Additions - - 84,423 - 84,423
At 28 June 2024 15,156 462 191,484 4,965 212,067
DEPRECIATION
At 29 June 2023 9,574 331 37,821 4,626 52,352
Charge for year 837 19 38,417 112 39,385
At 28 June 2024 10,411 350 76,238 4,738 91,737
NET BOOK VALUE
At 28 June 2024 4,745 112 115,246 227 120,330
At 28 June 2023 5,582 131 69,240 339 75,292

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 29 June 2023 96,266
Additions 84,423
At 28 June 2024 180,689
DEPRECIATION
At 29 June 2023 30,441
Charge for year 37,563
At 28 June 2024 68,004
NET BOOK VALUE
At 28 June 2024 112,685
At 28 June 2023 65,825

Motion Industrial Products Limited (Registered number: 06931707)

Notes to the Financial Statements - continued
for the Year Ended 28 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 207,456 204,674
Other debtors 4,660 6,422
212,116 211,096

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 40,319 26,911
Trade creditors 183,968 192,017
Taxation and social security 92,435 110,819
Other creditors 5,296 4,799
332,018 344,546

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,164 19,167
Hire purchase contracts 60,363 37,911
69,527 57,078

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 100,682 64,822

The hire purchase liability is secured over the asset to which it relates.