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Company No: 07492126 (England and Wales)

442 MOTIVATION LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

442 MOTIVATION LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

442 MOTIVATION LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
442 MOTIVATION LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Catherine Ross
Wayne Anthony Sowden
REGISTERED OFFICE Busby Stoop Garage
Busby Stoop
Thirsk
YO7 4EQ
United Kingdom
COMPANY NUMBER 07492126 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
442 MOTIVATION LIMITED

BALANCE SHEET

As at 31 March 2024
442 MOTIVATION LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.03.2023
£ £
Fixed assets
Tangible assets 3 2,671,687 2,714,222
2,671,687 2,714,222
Current assets
Stocks 200,000 0
Debtors 4 1,337,550 1,146,778
Cash at bank and in hand 5 124,205 166,753
1,661,755 1,313,531
Creditors: amounts falling due within one year 6 ( 1,266,190) ( 1,302,126)
Net current assets 395,565 11,405
Total assets less current liabilities 3,067,252 2,725,627
Creditors: amounts falling due after more than one year 7 ( 896,108) ( 1,021,027)
Net assets 2,171,144 1,704,600
Capital and reserves
Called-up share capital 9 1,000 1,000
Profit and loss account 2,170,144 1,703,600
Total shareholders' funds 2,171,144 1,704,600

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of 442 Motivation Limited (registered number: 07492126) were approved and authorised for issue by the Board of Directors on 14 April 2025. They were signed on its behalf by:

Wayne Anthony Sowden
Director
442 MOTIVATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
442 MOTIVATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

442 Motivation Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Busby Stoop Garage, Busby Stoop, Thirsk, YO7 4EQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
31.03.2024
Period from
01.02.2022 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2023 0 2,920,369 2,920,369
Additions 193,965 1,574,739 1,768,704
Disposals 0 ( 1,641,452) ( 1,641,452)
At 31 March 2024 193,965 2,853,656 3,047,621
Accumulated depreciation
At 01 April 2023 0 206,147 206,147
Charge for the financial year 6,870 162,917 169,787
At 31 March 2024 6,870 369,064 375,934
Net book value
At 31 March 2024 187,095 2,484,592 2,671,687
At 31 March 2023 0 2,714,222 2,714,222

4. Debtors

31.03.2024 31.03.2023
£ £
Trade debtors 63,632 279,243
Deferred tax asset 1,234,281 867,535
Other debtors 39,637 0
1,337,550 1,146,778

5. Cash and cash equivalents

31.03.2024 31.03.2023
£ £
Cash at bank and in hand 124,205 166,753

6. Creditors: amounts falling due within one year

31.03.2024 31.03.2023
£ £
Bank loans 92,752 90,168
Trade creditors 332,030 379,706
Amounts owed to Group undertakings 8,220 ( 21,504)
Amounts owed to related parties 9,000 0
Other taxation and social security 71,184 26,989
Obligations under finance leases and hire purchase contracts 487,949 642,366
Other creditors 265,055 184,401
1,266,190 1,302,126

7. Creditors: amounts falling due after more than one year

31.03.2024 31.03.2023
£ £
Obligations under finance leases and hire purchase contracts 896,108 1,021,027

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

31.03.2024 31.03.2023
£ £
At the beginning of financial year/period 867,535 ( 56,474)
Credited to the Statement of Income and Retained Earnings 366,746 924,009
At the end of financial year/period 1,234,281 867,535

9. Called-up share capital

31.03.2024 31.03.2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000