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REGISTERED NUMBER: 02497939 (England and Wales)






THE NORVIL MOTORCYCLE CO. LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






THE NORVIL MOTORCYCLE CO. LTD. (REGISTERED NUMBER: 02497939)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE NORVIL MOTORCYCLE CO. LTD.

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: L J Emery
Mrs S M Emery
Ms C Emery





SECRETARY: Mrs S M Emery





REGISTERED OFFICE: 96 - 98 The Corner Garage
Cannock Road
Chase Terrace
Burntwood
Staffordshire
WS7 1JP





REGISTERED NUMBER: 02497939 (England and Wales)





ACCOUNTANTS: Weatherer Bailey Bragg
Chartered Accountants
100 Boldmere Road
Sutton Coldfield
West Midlands
B73 5UB

THE NORVIL MOTORCYCLE CO. LTD. (REGISTERED NUMBER: 02497939)

BALANCE SHEET
30 September 2024

30/9/24 30/9/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 8,349 9,099

CURRENT ASSETS
Stocks 719,165 770,882
Debtors 5 25,457 30,068
Cash at bank and in hand 13,347 20,759
757,969 821,709
CREDITORS
Amounts falling due within one year 6 (219,872 ) (183,361 )
NET CURRENT ASSETS 538,097 638,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

546,446

647,447

PROVISIONS FOR LIABILITIES (1,586 ) (1,729 )
NET ASSETS 544,860 645,718

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 544,858 645,716
SHAREHOLDERS' FUNDS 544,860 645,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2025 and were signed on its behalf by:



L J Emery - Director


THE NORVIL MOTORCYCLE CO. LTD. (REGISTERED NUMBER: 02497939)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024

1. STATUTORY INFORMATION

The Norvil Motorcycle Co. Ltd. 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 presentation currency of the financial statements is the Pound Sterling (£).


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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from services provided is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

THE NORVIL MOTORCYCLE CO. LTD. (REGISTERED NUMBER: 02497939)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2023 22,696 18,931 6,207 47,834
Additions - 1,071 - 1,071
At 30 September 2024 22,696 20,002 6,207 48,905
DEPRECIATION
At 1 October 2023 16,102 17,113 5,520 38,735
Charge for year 989 434 398 1,821
At 30 September 2024 17,091 17,547 5,918 40,556
NET BOOK VALUE
At 30 September 2024 5,605 2,455 289 8,349
At 30 September 2023 6,594 1,818 687 9,099

THE NORVIL MOTORCYCLE CO. LTD. (REGISTERED NUMBER: 02497939)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade debtors 9,143 16,019
VAT 7,525 4,108
Prepayments 8,789 9,941
25,457 30,068

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade creditors 114,694 73,565
Social security & other taxes 3,450 3,426
Other creditors 700 6,106
Directors' loan accounts 94,130 94,130
Accrued expenses 6,898 6,134
219,872 183,361

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/9/24 30/9/23
value: £    £   
2 Ordinary £1 2 2

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30/9/24 30/9/23
£    £   
L J Emery
Balance outstanding at start of year (48,828 ) (16,779 )
Amounts advanced 8 12,501
Amounts repaid (8 ) (44,550 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (48,828 ) (48,828 )

Mrs S M Emery
Balance outstanding at start of year (45,302 ) (14,102 )
Amounts advanced - 13,250
Amounts repaid - (44,450 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (45,302 ) (45,302 )

No interest is charged on loans from directors. Amounts are repayable on demand.

The property from which the company operates is personally owned by L J Emery and Mrs S M Emery. No rents have been charged to the company by the directors in either 2024 or 2023.