Motor Verso Limited 09369202 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is motoring media services. Digita Accounts Production Advanced 6.30.9574.0 true 09369202 2024-01-01 2024-12-31 09369202 2024-12-31 09369202 core:CurrentFinancialInstruments 2024-12-31 09369202 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 09369202 core:FurnitureFittingsToolsEquipment 2024-12-31 09369202 core:OtherPropertyPlantEquipment 2024-12-31 09369202 bus:SmallEntities 2024-01-01 2024-12-31 09369202 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09369202 bus:AbridgedAccounts 2024-01-01 2024-12-31 09369202 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09369202 bus:RegisteredOffice 2024-01-01 2024-12-31 09369202 bus:Director1 2024-01-01 2024-12-31 09369202 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09369202 bus:Agent1 2024-01-01 2024-12-31 09369202 core:ComputerEquipment 2024-01-01 2024-12-31 09369202 core:FurnitureFittings 2024-01-01 2024-12-31 09369202 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 09369202 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 09369202 core:PlantMachinery 2024-01-01 2024-12-31 09369202 countries:EnglandWales 2024-01-01 2024-12-31 09369202 2023-12-31 09369202 core:FurnitureFittingsToolsEquipment 2023-12-31 09369202 core:OtherPropertyPlantEquipment 2023-12-31 09369202 2023-01-01 2023-12-31 09369202 2023-12-31 09369202 core:CurrentFinancialInstruments 2023-12-31 09369202 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09369202 core:FurnitureFittingsToolsEquipment 2023-12-31 09369202 core:OtherPropertyPlantEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 09369202

Motor Verso Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2024

 

Motor Verso Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Motor Verso Limited

Company Information

Director

P Hadley

Registered office

94 Penns Lane
Sutton Coldfield
B72 1BL

Accountants

The Numbersmith Limited 10 Cheyne Walk
Northampton
England
NN1 5PT

 

Motor Verso Limited

(Registration number: 09369202)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,101

4,134

Current assets

 

Debtors

225

1,836

Cash at bank and in hand

 

23,233

110,491

 

23,458

112,327

Creditors: Amounts falling due within one year

(25,389)

(77,085)

Net current (liabilities)/assets

 

(1,931)

35,242

Net assets

 

1,170

39,376

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

170

38,376

Shareholders' funds

 

1,170

39,376

 

Motor Verso Limited

(Registration number: 09369202)
Abridged Balance Sheet as at 31 December 2024

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option to not file the profit and loss account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 14 May 2025
 

.........................................
P Hadley
Director

 

Motor Verso Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
94 Penns Lane
Sutton Coldfield
B72 1BL

These financial statements were authorised for issue by the director on 14 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

 

Motor Verso Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Fixtures and fittings

25% on reducing balance

Computer equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Motor Verso Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Motor Verso Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

8,703

986

9,689

At 31 December 2024

8,703

986

9,689

Depreciation

At 1 January 2024

4,771

784

5,555

Charge for the year

983

50

1,033

At 31 December 2024

5,754

834

6,588

Carrying amount

At 31 December 2024

2,949

152

3,101

At 31 December 2023

3,932

202

4,134