Registered number
05406394
MOTION EVENTS LTD
Filleted Accounts
31 December 2024
MOTION EVENTS LTD
Registered number: 05406394
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 212,773 257,402
Investments 3 3
212,776 257,405
Current assets
Stocks 37,976 50,858
Debtors 4 306,515 652,275
Cash at bank and in hand 131,990 99,538
476,481 802,671
Creditors: amounts falling due within one year 5 (1,142,644) (1,008,231)
Net current liabilities (666,163) (205,560)
Total assets less current liabilities (453,387) 51,845
Provisions for liabilities (8,178) (9,929)
Net (liabilities)/assets (461,565) 41,916
Capital and reserves
Called up share capital 400 400
Profit and loss account (461,965) 41,516
Shareholders' funds (461,565) 41,916
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M E Page
Director
Approved by the board on 11 March 2025
MOTION EVENTS LTD
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold Improvements Over the Course of the Lease
Computer & Office Equipment 25% Reducing Balance
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Domestic current year tax Dec-24 Dec-23
£ £
UK Corporation Tax -
Adj in respect of previous years - -35,372
Deferred tax -1,751 -1,741
-1,751 -37,113
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 6
3 Tangible fixed assets
Leasehold Improvmnts Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 149,861 971,407 1,121,268
Additions - 20,386 20,386
At 31 December 2024 149,861 991,793 1,141,654
Depreciation
At 1 January 2024 108,159 755,707 863,866
Charge for the year 5,994 59,021 65,015
At 31 December 2024 114,153 814,728 928,881
Net book value
At 31 December 2024 35,708 177,065 212,773
At 31 December 2023 41,702 215,700 257,402
4 Debtors 2024 2023
£ £
Trade debtors 216,962 266,808
Amount Due from Connected Company - 103,189
Prepayment 29,413 246,906
Other debtors 60,140 35,372
306,515 652,275
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 52,689 59,820
Trade creditors 765,743 484,510
Amounts owed to group undertakings and undertakings in which the company has a participating interest 4,222 -
Taxation and social security costs 169,472 259,288
Directors Current Account 3,000 5,285
Accruals 124,684 157,244
Other creditors 22,834 42,084
1,142,644 1,008,231
6 Controlling party
As a consequence of the company's shareholding structure, there is no one ultimate controlling party. The company is therefore controlled by its directors.
7 Other information
MOTION EVENTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Pennywell Projects
30-64 Pennywell Road
First Floor Front
Bristol
BS5 0TL
MOTION EVENTS LTD 05406394 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts July 2024 M E Page No description of principal activity 05406394 2023-01-01 2023-12-31 05406394 core:WithinOneYear 2023-12-31 05406394 core:ShareCapital 2023-12-31 05406394 core:RetainedEarningsAccumulatedLosses 2023-12-31 05406394 2024-01-01 2024-12-31 05406394 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05406394 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05406394 bus:Director40 2024-01-01 2024-12-31 05406394 1 2024-01-01 2024-12-31 05406394 2 2024-01-01 2024-12-31 05406394 core:LandBuildings 2024-01-01 2024-12-31 05406394 core:PlantMachinery 2024-01-01 2024-12-31 05406394 countries:England 2024-01-01 2024-12-31 05406394 bus:FRS102 2024-01-01 2024-12-31 05406394 bus:FilletedAccounts 2024-01-01 2024-12-31 05406394 2024-12-31 05406394 core:WithinOneYear 2024-12-31 05406394 core:ShareCapital 2024-12-31 05406394 core:RetainedEarningsAccumulatedLosses 2024-12-31 05406394 core:LandBuildings 2024-12-31 05406394 core:PlantMachinery 2024-12-31 05406394 2023-12-31 05406394 core:LandBuildings 2023-12-31 05406394 core:PlantMachinery 2023-12-31 iso4217:GBP xbrli:pure