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REGISTERED NUMBER: 07893158 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

MK Motors of Trimdon Limited

MK Motors of Trimdon Limited (Registered number: 07893158)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MK Motors of Trimdon Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr I Glendinning
Mr P McDermont





REGISTERED OFFICE: Rose Street
Trimdon Grange
Trimdon Station
Durham
TS29 6EH





REGISTERED NUMBER: 07893158 (England and Wales)





ACCOUNTANTS: JBC Accountants Limited
Chartered Accountants
3B Lockheed Court
Preston Farm
Stockton on Tees
TS18 3SH

MK Motors of Trimdon Limited (Registered number: 07893158)

Balance Sheet
31 December 2024

31/12/24 31/12/23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 35,157 40,121
Tangible assets 5 47,485 54,216
82,642 94,337

CURRENT ASSETS
Stocks 3,000 4,000
Debtors 6 27,319 8,575
Cash at bank 161,396 182,526
191,715 195,101
CREDITORS
Amounts falling due within one year 7 48,304 70,488
NET CURRENT ASSETS 143,411 124,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

226,053

218,950

PROVISIONS FOR LIABILITIES 11,871 13,554
NET ASSETS 214,182 205,396

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 214,172 205,386
SHAREHOLDERS' FUNDS 214,182 205,396

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

MK Motors of Trimdon Limited (Registered number: 07893158)

Balance Sheet - continued
31 December 2024


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 Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





Mr I Glendinning - Director


MK Motors of Trimdon Limited (Registered number: 07893158)

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

1. STATUTORY INFORMATION

MK Motors of Trimdon 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and estimated selling price, less costs to complete and sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Current and deferred 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.

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 3 (2023 - 3 ) .

MK Motors of Trimdon Limited (Registered number: 07893158)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2024
and 31 December 2024 99,275
AMORTISATION
At 1 January 2024 59,154
Charge for year 4,964
At 31 December 2024 64,118
NET BOOK VALUE
At 31 December 2024 35,157
At 31 December 2023 40,121

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 January 2024 104,500 33,928 138,428
Additions - 989 989
At 31 December 2024 104,500 34,917 139,417
DEPRECIATION
At 1 January 2024 62,265 21,947 84,212
Charge for year 5,225 2,495 7,720
At 31 December 2024 67,490 24,442 91,932
NET BOOK VALUE
At 31 December 2024 37,010 10,475 47,485
At 31 December 2023 42,235 11,981 54,216

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£ £
Trade debtors 726 1,843
Other debtors 26,593 6,732
27,319 8,575

MK Motors of Trimdon Limited (Registered number: 07893158)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£ £
Trade creditors 4,573 5,212
Taxation and social security 23,040 29,112
Other creditors 20,691 36,164
48,304 70,488

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31/12/24 31/12/23
£ £
Mr P McDermont
Balance outstanding at start of year - -
Amounts advanced 47,226 -
Amounts repaid (25,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,226 -

Interest has been charged on the above loan at 2.5%.