REGISTERED NUMBER: |
Motorguard Warranties Ltd |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
REGISTERED NUMBER: |
Motorguard Warranties Ltd |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
Motorguard Warranties Ltd (Registered number: 13265786) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 4 |
Motorguard Warranties Ltd |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
8a Wingbury Courtyard |
Business Village |
Wingrave |
Buckinghamshire |
HP22 4LW |
Motorguard Warranties Ltd (Registered number: 13265786) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Motorguard Warranties Ltd (Registered number: 13265786) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Motorguard Warranties Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the invoiced value of the sale of warranty policies and is shown net of VAT. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement. |
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 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 and that are expected to apply to the reversal of the timing difference. |
Current or deferred taxation liabilities are not discounted. |
Going concern |
At the time of approving the financial statements the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
The company has the support of the holding company, Warranty Solutions Group Ltd. The holding company is funded by a mixture of share capital and working capital loans from directors and the directors have expressed their intention to continue to support the working capital requirements of the group. |
The Directors therefore consider it appropriate to prepare the financial statements on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Motorguard Warranties Ltd (Registered number: 13265786) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
Included in other creditors due inside one year is an amount of £807,241 which is owed to the holding company, Warranty Solutions Group Ltd. |
6. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Warranty Solutions Group Limited, a company registered in the United Kingdom. |