| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| MOTACHASE LIMITED |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| MOTACHASE LIMITED |
| MOTACHASE LIMITED (REGISTERED NUMBER: 02195851) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| MOTACHASE LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants and Statutory Auditors |
| 3 Southernhay West |
| Exeter |
| Devon |
| EX1 1JG |
| MOTACHASE LIMITED (REGISTERED NUMBER: 02195851) |
| Balance Sheet |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MOTACHASE LIMITED (REGISTERED NUMBER: 02195851) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | COMPANY INFORMATION |
| Motachase Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The company's principal activities and nature of its operations are disclosed in the Directors' Report. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover from the sale of goods and services is recognised in the Income Statement, net of discounts and value added tax, when the significant risks and rewards of ownership have been transferred to the buyer. In general this occurs when vehicles or parts have been supplied or when a service has been completed. |
| Commission income is accounted for on a receivable basis. |
| Incentives, bonuses and rebates are accounted for on a receivable basis when the terms and conditions of the contract have been met. |
| MOTACHASE LIMITED (REGISTERED NUMBER: 02195851) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and impairment losses. |
| Depreciation is provided at the following annual rates in order to write off each asset over its |
| estimated useful life: |
| Leasehold property | - | straight line over a period of 3 - 25 years |
| The following assets are all held within the plant and machinery category within the | accounts: |
| Plant and machinery | - | straight line over a period of 3 - 25 years |
| Fixtures and fitting | - | straight line over a period of 2 - 5 years |
| Computer equipment | - | straight line over a period of 3 - 7 years |
| Vehicles | - | straight line over a period of 1 - 3 years |
| Stocks |
| New and used vehicles are valued at the lower of cost and net realisable value, after making due allowance for obsolete or slow moving items. |
| Stock of parts is held at purchase cost. |
| Cash and cash equivalents |
| Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
| Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire. |
| MOTACHASE LIMITED (REGISTERED NUMBER: 02195851) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or 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 for staff and the directors. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Judgements and estimates |
| The financial statements include significant accounting estimates as follows: |
| Accruals and prepayments which are based on information available at the time the financial statements are approved. |
| Depreciation which is based on the estimate described in note 1 to the financial statements. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| MOTACHASE LIMITED (REGISTERED NUMBER: 02195851) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Long | Plant and |
| leasehold | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| MOTACHASE LIMITED (REGISTERED NUMBER: 02195851) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| There is a fixed and floating charge dated 24 August 2005 over all the property and assets of the company in favour of Barclays Bank Plc. |
| There is a fixed and floating charge dated 16 February 2024 over all the property or undertaking of the company in favour of Barclays Bank Plc. |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 12. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme for staff and the directors. The pension cost charge for the period represents contributions to the scheme and amounted to £31,730 (2022 - £28,707). At the balance sheet date the pension liability was £6,224 (2022 - £5,884). |
| 13. | RELATED PARTY DISCLOSURES |
| H S Williams and J E Chatting have each given a limited guarantee of £100,000 and £70,000 respectively as security on any bank overdraft. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The company is a 100% subsidiary of Livery Dole Limited, a company incorporated in England and Wales. It's registered office address is 18 Trusham Road, Marsh Barton, Exeter, Devon, EX2 8QG. |
| The ultimate controlling party is HS Williams. |