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REGISTERED NUMBER: 02821044 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Moto-Ward Limited

Moto-Ward Limited (Registered number: 02821044)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Moto-Ward Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: M R Ward





SECRETARY: Mrs P Ward





REGISTERED OFFICE: 4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX





REGISTERED NUMBER: 02821044 (England and Wales)





ACCOUNTANTS: Bristow Burrell
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

Moto-Ward Limited (Registered number: 02821044)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 452,379 452,491

CURRENT ASSETS
Stocks 142,607 144,685
Debtors 6 11,268 5,572
Cash at bank and in hand 3,572 4,142
157,447 154,399
CREDITORS
Amounts falling due within one
year

7

125,597

122,025
NET CURRENT ASSETS 31,850 32,374
TOTAL ASSETS LESS CURRENT
LIABILITIES

484,229

484,865

CREDITORS
Amounts falling due after more
than one year

8

330,401

329,883
NET ASSETS 153,828 154,982

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 159,078 159,078
Retained earnings (5,252 ) (4,098 )
SHAREHOLDERS' FUNDS 153,828 154,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 February 2025 and were signed by:




M R Ward - Director


Moto-Ward Limited (Registered number: 02821044)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Moto-Ward Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not Provided
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Depreciation is not provided on the freehold property because the director believes that the property's residual value is greater than its cost.

Although both the Companies Act and FRS 102 Section 1A requires all fixed assets to be depreciated, the director believes that non depreciation of the freehold property is necessary for the accounts to show a true and fair view. The depreciation which otherwise might have been charged cannot reasonably be identified or quantified.

The property is shown in the accounts at its market value and is subject to a full valuation every five years and an interim valuation when it is likely that there has been a material change in value. Surpluses and deficits on revaluation are credited or debited to the Revaluation Reserve.

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 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.


Moto-Ward Limited (Registered number: 02821044)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 June 2023 450,000 9,124 16,500 2,417 478,041
Additions - 308 - - 308
At 31 May 2024 450,000 9,432 16,500 2,417 478,349
DEPRECIATION
At 1 June 2023 - 6,633 16,500 2,417 25,550
Charge for year - 420 - - 420
At 31 May 2024 - 7,053 16,500 2,417 25,970
NET BOOK VALUE
At 31 May 2024 450,000 2,379 - - 452,379
At 31 May 2023 450,000 2,491 - - 452,491

Cost or valuation at 31 May 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2012 44,078 - - - 44,078
Valuation in 2016 115,000 - - - 115,000
Cost 290,922 9,432 16,500 2,417 319,271
450,000 9,432 16,500 2,417 478,349

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 290,922 290,922

Freehold land and buildings were valued on an open market basis on 31 May 2024 by the director .

Moto-Ward Limited (Registered number: 02821044)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 10,976 5,283
Other debtors 292 289
11,268 5,572

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 21,213 21,062
Trade creditors 22,242 21,496
Taxation and social security 5,596 6,424
Other creditors 76,546 73,043
125,597 122,025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 50,723 66,805
Other creditors 279,678 263,078
330,401 329,883

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 71,936 87,867

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary £1 2 2

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M R Ward.