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REGISTERED NUMBER: 00432447 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

MIDHURST ENGINEERING AND MOTOR COMPANY
LIMITED

MIDHURST ENGINEERING AND MOTOR COMPANY
LIMITED (REGISTERED NUMBER: 00432447)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

MIDHURST ENGINEERING AND MOTOR COMPANY
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: B E Morgan
G E Morgan
M E Morgan





SECRETARY: M E Morgan





REGISTERED OFFICE: Rumbolds Hill
Midhurst
West Sussex
GU29 9DD





REGISTERED NUMBER: 00432447 (England and Wales)





ACCOUNTANTS: Goodale Mardle, Chartered Accountants
Greens Court
West Street
Midhurst
West Sussex
GU29 9NQ

MIDHURST ENGINEERING AND MOTOR COMPANY
LIMITED (REGISTERED NUMBER: 00432447)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 959,470 783,889

CURRENT ASSETS
Stocks 61,014 57,691
Debtors 5 184,303 172,391
Cash at bank 334,686 293,983
580,003 524,065
CREDITORS
Amounts falling due within one year 6 444,864 424,279
NET CURRENT ASSETS 135,139 99,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,094,609

883,675

CREDITORS
Amounts falling due after more than one year 7 (104,815 ) (112,852 )

PROVISIONS FOR LIABILITIES (239,470 ) (195,518 )
NET ASSETS 750,324 575,305

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Capital redemption reserve 500 500
Retained earnings 748,324 573,305
SHAREHOLDERS' FUNDS 750,324 575,305

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





B E Morgan - Director


MIDHURST ENGINEERING AND MOTOR COMPANY
LIMITED (REGISTERED NUMBER: 00432447)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Midhurst Engineering and Motor Company 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on cost, 25% on reducing balance and 15% on reducing balance

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 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 27 (2023 - 25 ) .

MIDHURST ENGINEERING AND MOTOR COMPANY
LIMITED (REGISTERED NUMBER: 00432447)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 71,983 1,321,207 1,393,190
Additions - 325,692 325,692
Disposals - (39,139 ) (39,139 )
At 31 July 2024 71,983 1,607,760 1,679,743
DEPRECIATION
At 1 August 2023 70,165 539,136 609,301
Charge for year 227 125,468 125,695
Eliminated on disposal - (14,723 ) (14,723 )
At 31 July 2024 70,392 649,881 720,273
NET BOOK VALUE
At 31 July 2024 1,591 957,879 959,470
At 31 July 2023 1,818 782,071 783,889

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023 369,026
Additions 201,000
At 31 July 2024 570,026
DEPRECIATION
At 1 August 2023 25,887
Charge for year 50,038
At 31 July 2024 75,925
NET BOOK VALUE
At 31 July 2024 494,101
At 31 July 2023 343,139

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 135,326 141,077
Other debtors 48,977 31,314
184,303 172,391

MIDHURST ENGINEERING AND MOTOR COMPANY
LIMITED (REGISTERED NUMBER: 00432447)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 140,398 90,981
Trade creditors 105,095 82,526
Taxation and social security 70,707 91,370
Other creditors 128,664 159,402
444,864 424,279

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 104,815 112,852

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company owed B Morgan £48,042 (2023 - £69,744) at the year end. Interest is paid at 2% above base rate on £30,000 of the loan.

B Morgan has provided a personal guarantee to the company's bankers to a limit of £25,000.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MIDHURST ENGINEERING AND MOTOR COMPANY
LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Midhurst Engineering and Motor Company Limited for the year ended 31 July 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Midhurst Engineering and Motor Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Midhurst Engineering and Motor Company Limited and state those matters that we have agreed to state to the Board of Directors of Midhurst Engineering and Motor Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Midhurst Engineering and Motor Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Midhurst Engineering and Motor Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Midhurst Engineering and Motor Company Limited. You consider that Midhurst Engineering and Motor Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Midhurst Engineering and Motor Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goodale Mardle, Chartered Accountants
Greens Court
West Street
Midhurst
West Sussex
GU29 9NQ


Date: .............................................