Motornuts Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Motornuts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10123429 . The registered office is Controlla House Chaples Park, Goose House Lane, Darwen, Lancashire, BB3 0EH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Significant judgements and estimations

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no 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.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

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Motornuts Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% reducing balance
Fixtures & Fittings	15% reducing balance
Equipment	15% reducing balance

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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Motornuts Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 18 (2024: 20)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 May 2024	69,366

As at 30 April 2025	69,366

Amortisation
As at 1 May 2024	41,622
Provided during the period	6,937

As at 30 April 2025	48,559

Net Book Value
As at 30 April 2025	20,807

As at 1 May 2024	27,744

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Motornuts Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Equipment	Total
	£	£	£	£
Cost
As at 1 May 2024	6,172	25,319	1,625	33,116

As at 30 April 2025	6,172	25,319	1,625	33,116

Depreciation
As at 1 May 2024	4,219	13,485	874	18,578
Provided during the period	488	1,776	112	2,376

As at 30 April 2025	4,707	15,261	986	20,954

Net Book Value
As at 30 April 2025	1,465	10,058	639	12,162

As at 1 May 2024	1,953	11,834	751	14,538

6. Stocks

	2025	2024
	£	£
Stock	50,000	190,000

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	14,021	5,957
Amounts owed by associates	108,094	61,616

	122,115	67,573

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	31,063	62,571
Bank loans and overdrafts	51,949	29,208
Corporation tax	15,261	8,329
Other taxes and social security	8,412	7,565
VAT	48,610	44,868

...CONTINUED

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Motornuts Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

Other creditors	-	26,862
Accruals and deferred income	3,900	2,250
Amounts owed to associates	-	33,522

	159,195	215,175

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	28,143	47,917

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	8	8

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		20,807		27,744
Tangible Assets	5		12,162		14,538

			32,969		42,282
CURRENT ASSETS
Stocks	6	50,000		190,000
Debtors	7	122,115		67,573
Cash at bank and in hand		1,024		1,619

		173,139		259,192
Creditors: Amounts Falling Due Within One Year	8	(159,195 )		(215,175 )

NET CURRENT ASSETS (LIABILITIES)			13,944		44,017

TOTAL ASSETS LESS CURRENT LIABILITIES			46,913		86,299

Creditors: Amounts Falling Due After More Than One Year	9		(28,143 )		(47,917 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,311 )		(3,634 )

NET ASSETS			16,459		34,748

CAPITAL AND RESERVES
Called up share capital	10		8		8
Profit and Loss Account			16,451		34,740

SHAREHOLDERS' FUNDS			16,459		34,748