REGISTERED NUMBER: 03473314 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MOTOR PLUS DERBY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

B A Humphries

T C Lemon

K Green

Registered office:

Chapel Street

Derby

Derbyshire

DE1 3GU

Registered number:

03473314 (England and Wales)

Accountants:

TC Group

10 Stadium Business Court

Millennium Way

Pride Park

Derby

Derbyshire

DE24 8HP

Fixed assets

Tangible assets

4

14,971

5,858

Current assets

Stocks

5

2,305,238

2,283,298

Debtors

6

615,508

691,763

Cash at bank

233,543

568,555

3,154,289

3,543,616

Creditors

Amounts falling due within one year

7

(1,284,944

)

(1,665,334

)

Net current assets

1,869,345

1,878,282

Total assets less current liabilities

1,884,316

1,884,140

Capital and reserves

Called up share capital

8

350,100

350,100

Share premium

18,277

18,277

Retained earnings

1,515,939

1,515,763

Shareholders' funds

1,884,316

1,884,140

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

B A Humphries - Director

1.	STATUTORY INFORMATION

Motor Plus Derby 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.

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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on delivery/collection of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

5% on cost

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on reducing balance

Equipment

-

20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Taxation

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Motor

improvements

machinery

vehicles

Equipment

Totals

£

£

£

£

£

Cost

At 1 January 2024

5,539

54,986

19,540

6,548

86,613

Additions

6,939

240

-

5,220

12,399

At 31 December 2024

12,478

55,226

19,540

11,768

99,012

Depreciation

At 1 January 2024

4,680

53,166

17,236

5,673

80,755

Charge for year

329

1,026

640

1,291

3,286

At 31 December 2024

5,009

54,192

17,876

6,964

84,041

Net book value

At 31 December 2024

7,469

1,034

1,664

4,804

14,971

At 31 December 2023

859

1,820

2,304

875

5,858

5.

STOCKS

2024

2023

£

£

Vehicle stock and accessories

2,305,238

2,283,298

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

16,230

34,535

Other debtors

154,657

176,154

Directors' current accounts

403,925

461,975

Tax

21,572

-

VAT

-

6,185

Prepayments

19,124

12,914

615,508

691,763

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,241,011

1,396,825

Tax

-

250,888

PAYE and NIC

5,359

12,740

VAT

33,764

-

Other creditors

544

669

Accruals

4,266

4,212

1,284,944

1,665,334

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

350,100

Ordinary

1

350,100

350,100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

B A Humphries

Balance outstanding at start of year

461,975

489

Amounts advanced

8,678

461,986

Amounts repaid

(66,728

)

(500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

403,925

461,975

It is company policy to charge interest on all overdrawn loan accounts at HMRC's official rate of interest. The amount at the year end in respect of the above loans was £10,402 (2023: £6,725).