Major Motors Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05447109

Major Motors Limited

Filleted Unaudited Financial Statements

31 March 2025

Major Motors Limited

Financial Statements

Period from 1 August 2024 to 31 March 2025

Contents	Pages

Balance sheet	1 to 2

Notes to the financial statements	3 to 6

Major Motors Limited

Balance Sheet

31 March 2025

	31 Mar 25	31 Jul 24
Note	£	£

Fixed assets

Tangible assets	5	11,237	14,506

Current assets

Stocks		9,000	9,680
Debtors	6	12,627	39,883
Cash at bank and in hand		445,085	378,599
		---------	---------
		466,712	428,162

Creditors: amounts falling due within one year	7	208,533	185,751
		---------	---------
Net current assets		258,179	242,411
		---------	---------
Total assets less current liabilities		269,416	256,917

Provisions

Taxation including deferred tax	2,500	4,000
	---------	---------
Net assets	266,916	252,917
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	266,816	252,817
	---------	---------
Shareholders funds	266,916	252,917
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Major Motors Limited

Balance Sheet (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

Mr R Salt

Director

Company registration number: 05447109

Major Motors Limited

Notes to the Financial Statements

Period from 1 August 2024 to 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales, registration number 05447109 . The address of the registered office is Chapel Street, May Bank, Newcastle-under-Lyme, Staffordshire, ST5 9LY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Revenue recognition

Turnover comprises the value of sales (exclusive of VAT and trade discounts) of goods and services provided in the normal course of business. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	20% reducing balance
Plant and Machinery	-	25% reducing balance
Fixtures and Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	25% straight line

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is the purchase price of raw materials calculated on an actual basis. Net realisable value is the estimated proceeds from the sale of stock items.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal values. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 12 (2024: 12 ).

5. Tangible assets

	Leasehold Property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Aug 2024	10,416	67,592	9,015	6,500	4,364	97,887
Disposals	–	( 1,000)	–	( 6,500)	–	( 7,500)
	--------	--------	-------	-------	-------	--------
At 31 Mar 2025	10,416	66,592	9,015	–	4,364	90,387
	--------	--------	-------	-------	-------	--------
Depreciation
At 1 Aug 2024	10,100	57,594	6,449	5,344	3,894	83,381
Charge for the period	42	1,660	257	–	105	2,064
Disposals	–	( 951)	–	( 5,344)	–	( 6,295)
	--------	--------	-------	-------	-------	--------
At 31 Mar 2025	10,142	58,303	6,706	–	3,999	79,150
	--------	--------	-------	-------	-------	--------
Carrying amount
At 31 Mar 2025	274	8,289	2,309	–	365	11,237
	--------	--------	-------	-------	-------	--------
At 31 Jul 2024	316	9,998	2,566	1,156	470	14,506
	--------	--------	-------	-------	-------	--------

6. Debtors

	31 Mar 25	31 Jul 24
	£	£
Trade debtors	4,884	32,565
Other debtors	7,743	7,318
	--------	--------
	12,627	39,883
	--------	--------

7. Creditors: amounts falling due within one year

	31 Mar 25	31 Jul 24
	£	£
Trade creditors	47,175	48,966
Corporation tax	128,404	77,734
Social security and other taxes	23,575	31,292
Other creditors	9,379	27,759
	---------	---------
	208,533	185,751
	---------	---------

8. Related party transactions

The company's premises are owned by the director Mr Bailey and his spouse and no rent has been charged during the year.