2023-06-012024-05-312024-05-31false09451624MAGOR MOTORS LIMITED2025-02-27falseiso4217:GBPxbrli:pure094516242023-06-01094516242024-05-31094516242023-06-012024-05-31094516242022-06-01094516242023-05-31094516242022-06-012023-05-3109451624bus:SmallEntities2023-06-012024-05-3109451624bus:AuditExempt-NoAccountantsReport2023-06-012024-05-3109451624bus:AbridgedAccounts2023-06-012024-05-3109451624bus:PrivateLimitedCompanyLtd2023-06-012024-05-3109451624core:WithinOneYear2024-05-3109451624core:AfterOneYear2024-05-3109451624core:WithinOneYear2023-05-3109451624core:AfterOneYear2023-05-3109451624core:ShareCapital2024-05-3109451624core:SharePremium2024-05-3109451624core:RevaluationReserve2024-05-3109451624core:OtherReservesSubtotal2024-05-3109451624core:RetainedEarningsAccumulatedLosses2024-05-3109451624core:ShareCapital2023-05-3109451624core:SharePremium2023-05-3109451624core:RevaluationReserve2023-05-3109451624core:OtherReservesSubtotal2023-05-3109451624core:RetainedEarningsAccumulatedLosses2023-05-3109451624core:LandBuildings2024-05-3109451624core:PlantMachinery2024-05-3109451624core:Vehicles2024-05-3109451624core:FurnitureFittings2024-05-3109451624core:OfficeEquipment2024-05-3109451624core:NetGoodwill2024-05-3109451624core:IntangibleAssetsOtherThanGoodwill2024-05-3109451624core:ListedExchangeTraded2024-05-3109451624core:UnlistedNon-exchangeTraded2024-05-3109451624core:LandBuildings2023-05-3109451624core:PlantMachinery2023-05-3109451624core:Vehicles2023-05-3109451624core:FurnitureFittings2023-05-3109451624core:OfficeEquipment2023-05-3109451624core:NetGoodwill2023-05-3109451624core:IntangibleAssetsOtherThanGoodwill2023-05-3109451624core:ListedExchangeTraded2023-05-3109451624core:UnlistedNon-exchangeTraded2023-05-3109451624core:LandBuildings2023-06-012024-05-3109451624core:PlantMachinery2023-06-012024-05-3109451624core:Vehicles2023-06-012024-05-3109451624core:FurnitureFittings2023-06-012024-05-3109451624core:OfficeEquipment2023-06-012024-05-3109451624core:NetGoodwill2023-06-012024-05-3109451624core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3109451624core:ListedExchangeTraded2023-06-012024-05-3109451624core:UnlistedNon-exchangeTraded2023-06-012024-05-3109451624core:MoreThanFiveYears2023-06-012024-05-3109451624core:Non-currentFinancialInstruments2024-05-3109451624core:Non-currentFinancialInstruments2023-05-3109451624dpl:CostSales2023-06-012024-05-3109451624dpl:DistributionCosts2023-06-012024-05-3109451624core:LandBuildings2023-06-012024-05-3109451624core:PlantMachinery2023-06-012024-05-3109451624core:Vehicles2023-06-012024-05-3109451624core:FurnitureFittings2023-06-012024-05-3109451624core:OfficeEquipment2023-06-012024-05-3109451624dpl:AdministrativeExpenses2023-06-012024-05-3109451624core:NetGoodwill2023-06-012024-05-3109451624core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3109451624dpl:GroupUndertakings2023-06-012024-05-3109451624dpl:ParticipatingInterests2023-06-012024-05-3109451624dpl:GroupUndertakingscore:ListedExchangeTraded2023-06-012024-05-3109451624core:ListedExchangeTraded2023-06-012024-05-3109451624dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-06-012024-05-3109451624core:UnlistedNon-exchangeTraded2023-06-012024-05-3109451624dpl:CostSales2022-06-012023-05-3109451624dpl:DistributionCosts2022-06-012023-05-3109451624core:LandBuildings2022-06-012023-05-3109451624core:PlantMachinery2022-06-012023-05-3109451624core:Vehicles2022-06-012023-05-3109451624core:FurnitureFittings2022-06-012023-05-3109451624core:OfficeEquipment2022-06-012023-05-3109451624dpl:AdministrativeExpenses2022-06-012023-05-3109451624core:NetGoodwill2022-06-012023-05-3109451624core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3109451624dpl:GroupUndertakings2022-06-012023-05-3109451624dpl:ParticipatingInterests2022-06-012023-05-3109451624dpl:GroupUndertakingscore:ListedExchangeTraded2022-06-012023-05-3109451624core:ListedExchangeTraded2022-06-012023-05-3109451624dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-06-012023-05-3109451624core:UnlistedNon-exchangeTraded2022-06-012023-05-3109451624core:NetGoodwill2024-05-3109451624core:IntangibleAssetsOtherThanGoodwill2024-05-3109451624core:LandBuildings2024-05-3109451624core:PlantMachinery2024-05-3109451624core:Vehicles2024-05-3109451624core:FurnitureFittings2024-05-3109451624core:OfficeEquipment2024-05-3109451624core:AfterOneYear2024-05-3109451624core:WithinOneYear2024-05-3109451624core:ListedExchangeTraded2024-05-3109451624core:UnlistedNon-exchangeTraded2024-05-3109451624core:ShareCapital2024-05-3109451624core:SharePremium2024-05-3109451624core:RevaluationReserve2024-05-3109451624core:OtherReservesSubtotal2024-05-3109451624core:RetainedEarningsAccumulatedLosses2024-05-3109451624core:NetGoodwill2023-05-3109451624core:IntangibleAssetsOtherThanGoodwill2023-05-3109451624core:LandBuildings2023-05-3109451624core:PlantMachinery2023-05-3109451624core:Vehicles2023-05-3109451624core:FurnitureFittings2023-05-3109451624core:OfficeEquipment2023-05-3109451624core:AfterOneYear2023-05-3109451624core:WithinOneYear2023-05-3109451624core:ListedExchangeTraded2023-05-3109451624core:UnlistedNon-exchangeTraded2023-05-3109451624core:ShareCapital2023-05-3109451624core:SharePremium2023-05-3109451624core:RevaluationReserve2023-05-3109451624core:OtherReservesSubtotal2023-05-3109451624core:RetainedEarningsAccumulatedLosses2023-05-3109451624core:NetGoodwill2022-06-0109451624core:IntangibleAssetsOtherThanGoodwill2022-06-0109451624core:LandBuildings2022-06-0109451624core:PlantMachinery2022-06-0109451624core:Vehicles2022-06-0109451624core:FurnitureFittings2022-06-0109451624core:OfficeEquipment2022-06-0109451624core:AfterOneYear2022-06-0109451624core:WithinOneYear2022-06-0109451624core:ListedExchangeTraded2022-06-0109451624core:UnlistedNon-exchangeTraded2022-06-0109451624core:ShareCapital2022-06-0109451624core:SharePremium2022-06-0109451624core:RevaluationReserve2022-06-0109451624core:OtherReservesSubtotal2022-06-0109451624core:RetainedEarningsAccumulatedLosses2022-06-0109451624core:AfterOneYear2023-06-012024-05-3109451624core:WithinOneYear2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:CostValuation2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-06-012024-05-3109451624core:Non-currentFinancialInstrumentscore:CostValuation2024-05-3109451624core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-05-3109451624core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-05-3109451624core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-05-3109451624core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-05-3109451624core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-05-3109451624core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-05-3109451624core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-05-3109451624core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-05-3109451624core:Non-currentFinancialInstrumentscore:CostValuation2023-05-3109451624core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-05-3109451624core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-05-3109451624core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-05-3109451624core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-05-3109451624core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-05-3109451624core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-05-3109451624core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-05-3109451624core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-05-3109451624bus:Director12023-06-012024-05-3109451624bus:Director22023-06-012024-05-31

MAGOR MOTORS LIMITED

Registered Number
09451624
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

MAGOR MOTORS LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

MORGAN, Ben
WATKINS, Lyn

Registered Address

5 Laurel Close
Undy
Caldicot
NP26 3NP

Registered Number

09451624 (England and Wales)
MAGOR MOTORS LIMITED
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3142,284144,361
142,284144,361
Current assets
Debtors489,65360,457
Cash at bank and on hand30,2029,264
119,85569,721
Creditors amounts falling due within one year5(157,769)(94,827)
Net current assets (liabilities)(37,914)(25,106)
Total assets less current liabilities104,370119,255
Creditors amounts falling due after one year6(34,858)(47,430)
Net assets69,51271,825
Capital and reserves
Called up share capital22
Profit and loss account69,51071,823
Shareholders' funds69,51271,825
The financial statements were approved and authorised for issue by the Board of Directors on 27 February 2025, and are signed on its behalf by:
MORGAN, Ben
Director
Registered Company No. 09451624
MAGOR MOTORS LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery10
Office Equipment20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 23178,957
Additions13,750
At 31 May 24192,707
Depreciation and impairment
At 01 June 2334,596
Charge for year15,827
At 31 May 2450,424
Net book value
At 31 May 24142,284
At 31 May 23144,361
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables89,09759,485
Other debtors556972
Total89,65360,457
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables26,5139,396
Bank borrowings and overdrafts14,0004,000
Taxation and social security59,45630,678
Payments received on account11,7274,920
Finance lease and HP contracts41,98142,113
Accrued liabilities and deferred income4,0923,720
Total157,76994,827
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts21,5008,000
Other creditors13,35839,430
Total34,85847,430
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts13,35839,430
8.Directors advances, credits and guarantees
At the year 31st May 2024, the director owed the company £556.
9.Related party transactions
The company was under the control of Mr B Morgan, the managing director, throughout the current and previous period. Mr B Morgan is the managing director and sole shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102A.