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REGISTERED NUMBER: 04048390 (England and Wales)















HIGH MOTIVE LIMITED

Unaudited Financial Statements

for the Year Ended 31 August 2024






HIGH MOTIVE LIMITED (REGISTERED NUMBER: 04048390)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HIGH MOTIVE LIMITED

Company Information
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: P T Miles
T M O'Donnell
A Norman





SECRETARY: T M O'Donnell





REGISTERED OFFICE: Third Floor
Utilita Arena Cardiff
Mary Ann Street
Cardiff
County of Cardiff
CF10 2EQ





REGISTERED NUMBER: 04048390 (England and Wales)





ACCOUNTANTS: MHA (trading name of MHA Advisory Limited)
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

HIGH MOTIVE LIMITED (REGISTERED NUMBER: 04048390)

Balance Sheet
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 969,102 1,287,331

CURRENT ASSETS
Stocks 58,211 11,521
Debtors 5 813,537 811,701
Cash at bank and in hand 184,731 606,266
1,056,479 1,429,488
CREDITORS
Amounts falling due within one year 6 (1,285,539 ) (1,638,620 )
NET CURRENT LIABILITIES (229,060 ) (209,132 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

740,042

1,078,199

CREDITORS
Amounts falling due after more than one
year

7

(105,370

)

-

PROVISIONS FOR LIABILITIES (54,425 ) (94,198 )
NET ASSETS 580,247 984,001

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 580,147 983,901
580,247 984,001

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by:





T M O'Donnell - Director


HIGH MOTIVE LIMITED (REGISTERED NUMBER: 04048390)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

High Motive 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.

The financial statements are presented in sterling (£), the company's functional currency, and rounded to the nearest pound.

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.

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 have been no material departures from Financial Reporting Standard 102 1A small entities.

TURNOVER
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Turnover from services provided by the company is recognised when the company has performed its obligations and in exchange obtained the right to consideration.

TANGIBLE FIXED ASSETS
Tangible fixed assets are stated at cost or valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:-

Fixtures, fittings and equipment - 3 or 7 years straight line
Motor vehicles - 1 to 3 years straight line

The carrying value of tangible fixed assets are reviewed annually for impairment in period if events or changes in circumstances indicate the carrying value may not be recoverable.

STOCKS
Stocks are estimated by the directors.

CURRENT TAX
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated 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.

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.

HIGH MOTIVE LIMITED (REGISTERED NUMBER: 04048390)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit and 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.

NON-DERIVATIVE FINANCIAL INSTRUMENT
Basic financial instruments are recognised at amortised cost.

HIRE PURCHASE AGREEMENTS
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 64 (2023 - 64 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2023 7,539,240 661,061 8,200,301
Additions 388,535 62,572 451,107
Reclassification/transfer (3,734,775 ) - (3,734,775 )
At 31 August 2024 4,193,000 723,633 4,916,633
DEPRECIATION
At 1 September 2023 6,342,934 570,036 6,912,970
Charge for year 397,919 72,093 470,012
Reclassification/transfer (3,435,451 ) - (3,435,451 )
At 31 August 2024 3,305,402 642,129 3,947,531
NET BOOK VALUE
At 31 August 2024 887,598 81,504 969,102
At 31 August 2023 1,196,306 91,025 1,287,331

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 710,787 718,673
Other debtors 40,067 19,356
Directors' loan accounts 1,388 45,126
Corporation tax 24,689 -
Prepayments 36,606 28,546
813,537 811,701

HIGH MOTIVE LIMITED (REGISTERED NUMBER: 04048390)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,922
Other loans 533,959 556,058
Hire purchase contracts 70,450 -
Trade creditors 201,118 274,021
Corporation tax 3,400 136,164
Social security and other taxes 101,236 166,117
VAT 290,032 255,774
Other creditors 22,275 17,091
Wages and salaries control 1,223 147,871
Pension cost accrued 13,396 13,826
Directors' loan accounts 2,460 -
Accrued expenses 45,990 60,776
1,285,539 1,638,620

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 105,370 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Invoice financing 533,959 556,058
Hire purchase contracts 175,820 -
709,779 556,058

The invoice financing is secured by a way of a fixed and floating charge over the undertaking and all property and assets present and future.

The finance lease obligations are secured over the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal value: 2024 2023
£    £   
50 A Ordinary shares £1 50 50
50 B Ordinary shares £1 50 50
100 100

10. OTHER FINANCIAL COMMITMENTS

Total amount of commitments, guarantees and contingencies is £73,366 (2023 - £131,627) in respect of operating leases.

HIGH MOTIVE LIMITED (REGISTERED NUMBER: 04048390)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
P T Miles
Balance outstanding at start of year 23,210 25,787
Amounts advanced 106,497 117,423
Amounts repaid (128,319 ) (120,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,388 23,210

T M O'Donnell
Balance outstanding at start of year 21,916 36,684
Amounts advanced 94,407 95,232
Amounts repaid (116,323 ) (110,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 21,916

Interest has been charged on any overdrawn balances during the year at a commercial rate. The overdrawn balance will be repaid within the next 9 months.