REGISTERED NUMBER: 08231834 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

2 MOTO LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Consolidated Profit and loss account

11

Consolidated Other Comprehensive Income

12

Consolidated Balance Sheet

13

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

20

DIRECTORS:

L J Mason

Mrs E Mason

REGISTERED OFFICE:

White Bear Yard

Park Road

Adlington

Chorley

Lancashire

PR7 4HZ

REGISTERED NUMBER:

08231834 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

Yorkshire Bank plc

3 Orchard Street

Preston

PR1 2EN

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

The 2 Moto Group has recorded sales in excess of £74million and operating profits of £1.8million for the year 2024, which is pleasing in the current economic environment, as people continue to reprioritise their spending habits.

The 2 Moto Group able to offer a range of new and used motorcycles from all the leading manufacturers and offer a wide range of services from finance, MOT and servicing, parts and accessories, along with delivery and collection options.

We continue to offer our discerning customers value for money and customer satisfaction and hopefully keep a strong position within our marketplace and continue to improve our website thus enabling us to give our potential customers a competitive price and strive to give a positive and informative overall sales experience.

We will always be fully committed to providing our customers with the best and ultimate motorcycling experience. We are appreciative and grateful for our loyal customers support and we hope to keep our standards high to give our customers the service they deserve.

We also continue to have good working relationships with our suppliers and we are adding to the number of make and models we sell, to give the public a more varied choice that may also help to accommodate their budget at a time when household costs continue to rise.

Results in 2025 have been positive, with a number of new brands to the UK boosting sales and profitability.

Key Performance Indicators

KPI's include sales, margins, wages and overheads and cash flow which are monitored by senior management by retail outlet and also at the warehouse and head office.

2024

2023

£'000

£'000

Turnover

74,165

85,650

Gross profit

13,433

16,634

Gross margin (%)

18.1%

19.4%

Operating profit

1,848

5,025

EBITDA

2,130

5,364

Net assets

40,093

38,670

Senior management also monitor performance by reference to certain non financial KPI's, including customer, supplier and employee satisfaction, supply lead times and technology advancement, both internally and externally.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal financial risks and uncertainties associated with the group and company's ability to monitor and manage:

Cashflow

The group has certain transactions in foreign currencies but is not exposed to any material risks relating to exchange fluctuations. The group has a shared bank facility with fellow subsidiary companies operating within the agreed facility. The group's exposure to interest rate movements is not considered material and hence it is not believed to be necessary to hedge against rates.

Credit Risk

The group's principal financial asset is in stock. The credit risk is limited by an exposure to a number of major customers on whom either credit reports are obtained or whose annual accounts are regularly reviewed. Supplier terms are reviewed regularly, so as to take advantage of price and exchange rates, where appropriate.

Liquidity Risk

The cash facilities available to the group and company have been compared to their likely credit requirements over the next 12 months, from the date of signing these financial statements and are deemed to be adequate.

Price Risk

The group is exposed to a price risk arising on its bike purchases; we constantly monitor the markets, both at home and abroad, to ensure our buying and selling price structures are well managed and competitive.

Other risks including supply and stock holding constraints, commercial and contractual, are managed internally by holding regular senior managers meetings and also meetings with key suppliers.

HEALTH, SAFETY AND ENVIRONMENTAL ISSUES

The group and company is committed to outstanding performance in health, safety and environmental matters through a policy of training, communication and co-operation applied consistently throughout all operations.

SECTION 172(1) STATEMENT

The directors consider that they have acted in the way they consider, in good faith, would be most likely to promote the success of the group and company for the benefit of its members as a whole (having regard to the stakeholders and the matters set out in s172(1)(a-f) of the Companies Act 2006) in the decisions taken in the year ended 31 December 2023.

Customer and supplier engagement and satisfaction is at the heart of everything we do and any decision made by the directors are made with full consideration of the impact on the group's customers and suppliers.

The group has a small number of key supplier partners with which directors and senior management maintain close relationships on an ongoing basis through regular dialogue, formal meetings and conferences.

The directors seek to promote a culture of environmental sustainability within the business which primarily focuses on an energy efficient approach to the design and management of our retail outlets and head office/warehouse. This includes fitting out our retail outlets and head office/warehouse with mechanical and electrical systems that comply with government energy saving schemes, water-saving bathroom facilities, installing LED energy saving lighting and using energy-efficient equipment.

ON BEHALF OF THE BOARD:

L J Mason - Director

29 September 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of wholesale and retail distribution of motorcycles and accessories. The principal activity of the company in the period under review was that of a holding company.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £ 1,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

L J Mason

Mrs E Mason

BUSINESS RELATIONSHIPS

Business relationships are discussed within the Strategic Report on page 3, in accordance with the provisions of s172(1)(c) of the Companies Act 2006.

STREAMLINED ENERGY AND CARBON REPORTING

As a large company and group, under the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, we are required to prepare a Streamlined Energy Carbon Reporting Report. This report contains details of the Group's annual energy usage (in kWh) and the relevant greenhouse gas emissions (in tonnes of carbon dioxide equivalent (CO2e)).

2024 Energy Usage in kWh

2024Greenhouse Gas Emissions in CO2e

2023 Energy Usage in kWh

2023Greenhouse Gas Emissions in CO2e

Gas

1,253,888

266,238

1,192,943

253,298

Electricity

1,123,310

238,512

843,309

179,060

Transport

1,677,559

425,044

2,032,453

514,961

Total

4,054,757

929,795

4,068,705

947,319

The conversion factors used in the above table are taken from the UK Government GHG Conversion Factors for Company Reporting. In the year the group used 4,,054,757 kWh of energy for its warehouse, retail outlets and transport. This equates to 929,795 kg of CO2e emissions across the following subsidiaries: Moto GB Limited, Chorley Yamaha Centre Limited, Motorcycle Centre Orrell Limited and KJM Superbikes Limited.

The total turnover for the group for the year is £74,148,109 (2023: £85,649,774), which when compared to the CO2e emissions of the year, gives us an intensity ratio of 12.54 Kg (2023: 11.06 Kg) of CO2e emissions per £1,000 of turnover.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

L J Mason - Director

29 September 2025

Opinion

We have audited the financial statements of 2 Moto Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Profit and loss account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- we identified the laws and regulations applicable to the company and group through discussions with directors and other management, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on it's operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation, employment legislation and Health and Safety regulations.

- we enquired of the directors and reviewed correspondence with HMRC for evidence of non-compliance with laws and regulations. We also reviewed controls the directors have in place to ensure compliance.

We assessed the susceptibility of the company's and group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

- we reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above;

- we enquired of the directors about actual and potential litigation and claims.

Due to inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

John B S Fairhurst BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

29 September 2025

TURNOVER

74,165,788

85,649,774

Cost of sales

60,732,051

69,015,904

GROSS PROFIT

13,433,737

16,633,870

Administrative expenses

11,642,092

11,710,460

1,791,645

4,923,410

Other operating income

57,067

101,138

OPERATING PROFIT

1,848,712

5,024,548

Interest receivable and similar income

170,847

-

2,019,559

5,024,548

Interest payable and similar expenses

4

60,298

154,481

PROFIT BEFORE TAXATION

5

1,959,261

4,870,067

Tax on profit

6

534,738

1,214,711

PROFIT FOR THE FINANCIAL YEAR

1,424,523

3,655,356

Profit attributable to:

Owners of the parent

1,424,523

3,655,356

PROFIT FOR THE YEAR

1,424,523

3,655,356

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,424,523

3,655,356

Total comprehensive income attributable to:

Owners of the parent

1,424,523

3,655,356

FIXED ASSETS

Intangible assets

9

161,339

322,678

Tangible assets

10

1,266,602

1,330,158

Investments

11

-

-

Investment property

12

400,000

400,000

1,827,941

2,052,836

CURRENT ASSETS

Stocks

13

35,437,640

40,518,715

Debtors

14

8,658,909

9,137,022

Cash at bank and in hand

3,705,658

205,308

47,802,207

49,861,045

CREDITORS

Amounts falling due within one year

15

9,534,080

13,187,181

NET CURRENT ASSETS

38,268,127

36,673,864

TOTAL ASSETS LESS CURRENT LIABILITIES

40,096,068

38,726,700

PROVISIONS FOR LIABILITIES

18

2,214

56,369

NET ASSETS

40,093,854

38,670,331

CAPITAL AND RESERVES

Called up share capital

19

1,000

1,000

Share premium

20

2,359,002

2,359,002

Non distributable reserves

20

309,266

309,266

Retained earnings

20

37,424,586

36,001,063

SHAREHOLDERS' FUNDS

40,093,854

38,670,331

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

L J Mason - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

-

-

Investments

11

5,360,000

5,360,000

Investment property

12

-

-

5,360,000

5,360,000

CURRENT ASSETS

Debtors

14

573,385

605,629

Cash in hand

2

2

573,387

605,631

CREDITORS

Amounts falling due within one year

15

2,575,385

2,606,629

NET CURRENT LIABILITIES

(2,001,998

)

(2,000,998

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,358,002

3,359,002

CAPITAL AND RESERVES

Called up share capital

19

1,000

1,000

Share premium

20

2,359,002

2,359,002

Retained earnings

20

998,000

999,000

SHAREHOLDERS' FUNDS

3,358,002

3,359,002

Company's profit for the financial year

-

-

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

L J Mason - Director

Called up

Non

share

Retained

Share

distributable

Total

capital

earnings

premium

reserves

equity

£

£

£

£

£

Balance at 1 January 2023

1,000

32,346,707

2,359,002

309,266

35,015,975

Changes in equity

Dividends

-

(1,000

)

-

-

(1,000

)

Total comprehensive income

-

3,655,356

-

-

3,655,356

Balance at 31 December 2023

1,000

36,001,063

2,359,002

309,266

38,670,331

Changes in equity

Dividends

-

(1,000

)

-

-

(1,000

)

Total comprehensive income

-

1,424,523

-

-

1,424,523

Balance at 31 December 2024

1,000

37,424,586

2,359,002

309,266

40,093,854

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2023

1,000

1,000,000

2,359,002

3,360,002

Changes in equity

Dividends

-

(1,000

)

-

(1,000

)

Balance at 31 December 2023

1,000

999,000

2,359,002

3,359,002

Changes in equity

Dividends

-

(1,000

)

-

(1,000

)

Balance at 31 December 2024

1,000

998,000

2,359,002

3,358,002

Cash flows from operating activities

Cash generated from operations

1

6,410,023

9,096,282

Interest paid

(60,298

)

(154,481

)

Tax paid

(1,629,352

)

(3,277,967

)

Net cash from operating activities

4,720,373

5,663,834

Cash flows from investing activities

Purchase of tangible fixed assets

(79,394

)

(228,904

)

Sale of tangible fixed assets

23,436

33,450

Interest received

170,847

-

Net cash from investing activities

114,889

(195,454

)

Cash flows from financing activities

Amount introduced by directors

211,400

1,427,460

Amount withdrawn by directors

(245,743

)

(323,592

)

Movement in related party loans

(426,491

)

(337,349

)

Equity dividends paid

(1,000

)

(1,000

)

Net cash from financing activities

(461,834

)

765,519

Increase in cash and cash equivalents

4,373,428

6,233,899

Cash and cash equivalents at beginning of year

2

(667,770

)

(6,901,669

)

Cash and cash equivalents at end of year

2

3,705,658

(667,770

)

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

1,959,261

4,870,067

Depreciation charges

286,240

339,418

Profit on disposal of fixed assets

(5,389

)

(11,094

)

Finance costs

60,298

154,481

Finance income

(170,847

)

-

2,129,563

5,352,872

Decrease/(increase) in stocks

5,081,075

(4,562,739

)

Decrease in trade and other debtors

904,605

7,594,668

(Decrease)/increase in trade and other creditors

(1,705,220

)

711,481

Cash generated from operations

6,410,023

9,096,282

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

3,705,658

205,308

Bank overdrafts

-

(873,078

)

3,705,658

(667,770

)

Year ended 31 December 2023

31/12/23

1/1/23

£

£

Cash and cash equivalents

205,308

22,798

Bank overdrafts

(873,078

)

(6,924,467

)

(667,770

)

(6,901,669

)

3.	ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1/1/24

Cash flow

At 31/12/24

£

£

£

Net cash

Cash at bank and in hand

205,308

3,500,350

3,705,658

Bank overdrafts

(873,078

)

873,078

-

(667,770

)

4,373,428

3,705,658

Total

(667,770

)

4,373,428

3,705,658

1.	STATUTORY INFORMATION

2 Moto 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation

The consolidated financial statements include the results of 2 Moto Limited and its subsidiary undertakings drawn up to 31 December 2024.

The consolidated financial statements include the results of the activities described in the Report of the Directors. The company does not trade in its own right, but acts as a holding company for its trading subsidiaries KJM Trade Limited, Motorcycle Centre Orrell Limited, Moto GB Limited, Moto73 Limited (and its 100% subsidiary company, Walkdens of Chorley Limited), and KJM Superbikes Limited.

In the company's financial statements, investments in subsidiary undertakings are included at cost less any impairment.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

(a) Stock provision

Stock provisions have been estimated by senior management where the anticipated net realisable value of stock items is lower than cost. Net realisable value has been determined by considering the stock items current and expected sales value, overall stock quantity and sales volume.

(b) Useful economic lives

The useful economic lives of fixed assets are assessed on an annual basis based on the latest available information. Management believe that the useful economic lives being used currently are still appropriate.

Turnover

Turnover represents the fair value of income received from the sale of new and used motor bikes and accessories, for retail to the general public and wholesale to other companies, excluding discounts and value added tax.

Finance commission is received monthly based on the volume of bikes sold.

The group recognises revenue when the goods have been delivered and the title of goods has passed.

Intangible fixed assets

Intangible fixed assets are stated at cost less accumulated amortisation and any accumulated impairment losses.

Goodwill arising on an acquisition of a subsidiary undertaking is the difference between the fair value of the consideration paid and the fair value of the net assets and liabilities acquired. It is capitalised and amortised through the profit and loss account over the directors estimate of its useful economic life, which is ten years, less impairment.