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REGISTERED NUMBER: 09218864 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Motorvise (Automotive) Ltd

Motorvise (Automotive) Ltd (Registered number: 09218864)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Motorvise (Automotive) Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: F S Brown





REGISTERED OFFICE: 8 Bailey Court
Colburn Business Park
CATTERICK GARRISON
North Yorkshire
DL9 4QL





REGISTERED NUMBER: 09218864 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Motorvise (Automotive) Ltd (Registered number: 09218864)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,014 9,717
Tangible assets 5 18,938 21,378
21,952 31,095

CURRENT ASSETS
Debtors 6 460,989 273,836
Cash at bank and in hand 165,222 192,075
626,211 465,911
CREDITORS
Amounts falling due within one year 7 (261,518 ) (183,822 )
NET CURRENT ASSETS 364,693 282,089
TOTAL ASSETS LESS CURRENT
LIABILITIES

386,645

313,184

CREDITORS
Amounts falling due after more than one
year

8

(270,060

)

(200,823

)

PROVISIONS FOR LIABILITIES 11 (3,972 ) -
NET ASSETS 112,613 112,361

CAPITAL AND RESERVES
Called up share capital 12 95 95
Retained earnings 112,518 112,266
SHAREHOLDERS' FUNDS 112,613 112,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Motorvise (Automotive) Ltd (Registered number: 09218864)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2025 and were signed by:





F S Brown - Director


Motorvise (Automotive) Ltd (Registered number: 09218864)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Motorvise (Automotive) Ltd 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions which have been conducted under normal market conditions.

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

Income Recognition
Income is recognised when a contract for the sale of goods is determined as being unconditional, and for services when that service has been performed.

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.

Computer software is being amortised evenly over its estimated useful life of 2-3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Motorvise (Automotive) Ltd (Registered number: 09218864)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Share options
Certain employees of the company receive remuneration in the form of share-based payments from the company, whereby employees render services as consideration for equity instruments.

The cost of equity-settled transactions is determined by the fair value at the date when the grant is madel.

That cost would be recognised as wages costs, together with a corresponding increase in equity, over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognised for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the company's best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement of profit or loss for a period represents the movement in cumulative expense recognised as at the beginning and end of that period.

Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the company's best estimate of the number of equity instruments that will ultimately vest.

The director has assessed the above and considers any charge to be immaterial to be the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 22 ) .

Motorvise (Automotive) Ltd (Registered number: 09218864)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 October 2023
and 30 September 2024 47,217
AMORTISATION
At 1 October 2023 37,500
Amortisation for year 6,703
At 30 September 2024 44,203
NET BOOK VALUE
At 30 September 2024 3,014
At 30 September 2023 9,717

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 13,919 78,327 1,730 93,976
Additions - 3,994 - 3,994
At 30 September 2024 13,919 82,321 1,730 97,970
DEPRECIATION
At 1 October 2023 2,162 69,111 1,325 72,598
Charge for year 557 5,776 101 6,434
At 30 September 2024 2,719 74,887 1,426 79,032
NET BOOK VALUE
At 30 September 2024 11,200 7,434 304 18,938
At 30 September 2023 11,757 9,216 405 21,378

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 200,608 217,014
Amounts owed by group undertakings 174,736 -
Other debtors 4,198 6,351
Directors' current accounts 34,370 26,975
Prepayments and accrued income 47,077 23,496
460,989 273,836

Motorvise (Automotive) Ltd (Registered number: 09218864)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 99,781 88,092
Trade creditors 44,175 45,442
Taxation and social security 74,403 37,826
Other creditors 1,994 2,143
Accruals and deferred income 41,165 10,319
261,518 183,822

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 70,256 73,279
Bank loans - 2-5 years 199,804 127,544
270,060 200,823

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 12,500 12,500
Between one and five years - 12,500
12,500 25,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 84,809 71,464

The bank loan is secured by a fixed and floating charge over the company's assets.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,972 -

Deferred
tax
£   
Accelerated capital allowances 3,972
Balance at 30 September 2024 3,972

Motorvise (Automotive) Ltd (Registered number: 09218864)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90 Ordinary £1 90 90
5 A Ordinary £1 5 5
95 95

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
F S Brown
Balance outstanding at start of year 26,975 94,005
Amounts advanced 72,870 103,255
Amounts repaid (65,475 ) (170,285 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,370 26,975

14. SHARE OPTIONS

Share options were issued by the company to 2 employees in the prior period Share options are exercisable upon the occurrence of a transactional event.


Movements during the year
The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:

2024 2024 2023 2023
Number: WAEP Number: WAEP
£ £
Balance at 1 October 2023 5 1,315 5 1,315
Granted during the period - - - -
Forfeited during the period - - - -
Exercise during the period - - - -
Expired during the period - - - -
Outstanding at 30 September 2024 5 1,315 5 1,315
Exercisable at 30 September 2024 - - - -