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Registered number: 01722280
Motive Components Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 30 April 2025
Adam Parker Limited
Motive Components Limited
Contents
Contents

| Page
--- | ---
Strategic Report | 1
Directors' Report | 2
Independent Auditor's Report | 3—5
Profit and Loss Account | 6
Balance Sheet | 7
Statement of Changes in Equity | 8
Statement of Cash Flows | 9
Notes to the Statement of Cash Flows | 10
Notes to the Financial Statements | 11—16

Page 1
Motive Components Limited
Strategic Report
For The Year Ended 30 April 2025
Strategic Report
The directors present their strategic report for the year ended 30 April 2025.
Principal Activity
The company's principal activity continues to be that of warehousing, distribution and sale of replacement motor vehicle parts and accessories.
Review of the Business
The director report that of company has performed well in the year to 30 April 2025.
With our industry knowledge and focused management direction, we are confident that the company will be able to sustain its business throughout at least the next year.
During the year, the company relocated its UK headquarters and warehouse to a new facility. The Directors considered this to be a necessary move to maximise the Group’s ability to service its customers in anticipation of the business's future growth.
The Directors consider the company to be in a strong position to capitalise on the UK and European automotive aftermarket for motor parts.
We aim to present a balanced and comprehensive review of the company's development and performance during the year, as well as its position at year-end. Our review is consistent with the size and non-complex nature of the company and is written in the context of the risks and uncertainties we face.
We consider the key performance indicators for the group to be those that communicate the financial performance and strength of the group as a whole, these being turnover and gross margin.

| 2025 |  | 2024
| £ |  | £
Turnover | 10,433,400 |  | 10,568,771
Gross margin | 4,133,656 |  | 4,335,184

Principal Risks and Uncertainties
The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to Board approval and ongoing review by management. Compliance with regulations, legal and ethical standards is a priority for the company. The directors are responsible for satisfying itself that a proper internal control framework exists to manage financial risks and that controls operate effectively.
On behalf of the board

Mr Dudley Cotton Director | Mr Brett Cotton Director
28/10/2025

Page 1
Page 2
Motive Components Limited
Company No. 01722280
Directors' Report For The Year Ended 30 April 2025
Directors' Report
The directors present their report and the financial statements for the year ended 30 April 2025.
Dividends
The value of dividends paid amounted to £2,769,629 .
The directors recommended a final dividend of £NIL .
Directors
The directors who held office during the year were as follows:

Mr Dudley Cotton
Mr Brett Cotton
Mr Anthony Hartley
Mrs Jennifer Cotton

Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). 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 of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:

- so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
- they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors
The auditors, Adam Parker Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board

Mr Dudley Cotton Director | Mr Brett Cotton Director
28/10/2025

Page 2
Page 3
Independent Auditor's Report
to the Members of
Motive Components Limited
Independent Auditor's Report
Opinion
We have audited the financial statements of Motive Components Limited for the year ended 30 April 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its profit/(loss) 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and Directors' Report 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records or 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.

Page 3
Page 4
Independent Auditor's Report (continued)
to the Members of
Motive Components Limited
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.
Auditor's 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 an auditor's report 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:
The engagement partner ensured that the engagement team had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• we identified the laws and regulations applicable to the company through discussions with directors and other management;
• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, employment environmental and health and safety legislation;
• we assessed the extent of compliance with the laws and regulations identified above;
• we communicated identified laws and regulations within the audit team who remained alert to instances of non-compliance.
We assessed the susceptibility of the company's financial statements to material misstatement including obtaining an understanding of how fraud might occur, by;
• making enquiries of management as to whether they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
• understanding the design of the company's remuneration policies.
To address the risk of fraud through management bias and override of controls, we;
• performed analytical procedures to identify any unusual or unexpected relationships;
• tested journal entries to identify unusual transactions;
In response to the risk of non-compliance with laws and regulations, we designed procedures which included, but were not limited to;
• agreeing financial statement disclosures to underlying supporting documentation;
• enquiring of management as to actual and potential litigation and claims; and
• reviewing correspondence with HMRC and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Other matters which we are required to address
The comparatives for the financial year ended 30 April 2024 were not audited, as the company was audit-exempt for this period.
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 that we are required to state to them in an auditor's report 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.
Page 4
Page 5
Independent Auditor's Report (continued)
to the Members of
Motive Components Limited

Wajih Khan- FCCA (Senior Statutory Auditor) for and on behalf of Adam Parker Limited , Statutory Auditor
28/10/2025
Adam Parker Limited 590-598 Elder Gate Milton Keynes MK9 1LR

Page 5
Page 6
Motive Components Limited
Profit and Loss Account
For The Year Ended 30 April 2025
Profit and Loss Account

| 2025 |  | 2024
--- | --- | --- | ---
| Notes | £ |  | £
TURNOVER | 3 | 10,433,400 |  | 10,568,771
Cost of sales |  | (6,299,744 ) |  | (6,233,587 )
GROSS PROFIT |  | 4,133,656 |  | 4,335,184
Administrative expenses |  | (2,690,925 ) |  | (2,293,707 )
OPERATING PROFIT | 4 | 1,442,731 |  | 2,041,477
Loss on disposal of fixed assets |  | (1,556 ) |  | (7,995 )
Other interest receivable and similar income | 9 | 15,679 |  | 103,997
PROFIT BEFORE TAXATION |  | 1,456,854 |  | 2,137,479
Tax on Profit | 10 | (130,558 ) |  | (475,407 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |  | 1,326,296 |  | 1,662,072

The notes on pages 10 to 16 form part of these financial statements.
Page 6
Page 7
Motive Components Limited
Balance Sheet
As At 30 April 2025
Balance Sheet
Registered number: 01722280

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 11 |  | 200,614 |  | 254,566
|  |  | 200,614 |  | 254,566
CURRENT ASSETS
Stocks | 12 | 2,216,447 |  | 1,257,074 |
Debtors | 13 | 2,455,380 |  | 2,841,435 |
Cash at bank and in hand |  | 1,356,112 |  | 3,252,604 |
|  | 6,027,939 |  | 7,351,113 |
Creditors: Amounts Falling Due Within One Year | 14 | (1,033,746 ) |  | (963,165 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 4,994,193 |  | 6,387,948
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 5,194,807 |  | 6,642,514
PROVISIONS FOR LIABILITIES
Deferred Taxation | 15 |  | (22,797 ) |  | (27,171 )
NET ASSETS |  |  | 5,172,010 |  | 6,615,343
CAPITAL AND RESERVES
Called up share capital | 17 |  | 10,000 |  | 10,000
Profit and Loss Account |  |  | 5,162,010 |  | 6,605,343
SHAREHOLDERS' FUNDS |  |  | 5,172,010 |  | 6,615,343

On behalf of the board

Mr Dudley Cotton Director | Mr Brett Cotton Director
28/10/2025

The notes on pages 10 to 16 form part of these financial statements.
Page 7
Page 8
Motive Components Limited
Statement of Changes in Equity
For The Year Ended 30 April 2025
Statement of Changes in Equity

| Share Capital | Profit and Loss Account | Total
--- | --- | --- | ---
| £ | £ | £
As at 1 May 2023 | 10,000 | 7,580,603 | 7,590,603
Profit for the year and total comprehensive income | - | 1,662,072 | 1,662,072
Dividends paid | - | (2,637,332) | (2,637,332)
As at 30 April 2024 and 1 May 2024 | 10,000 | 6,605,343 | 6,615,343
Profit for the year and total comprehensive income | - | 1,326,296 | 1,326,296
Dividends paid | - | (2,769,629) | (2,769,629)
As at 30 April 2025 | 10,000 | 5,162,010 | 5,172,010

Page 8
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Motive Components Limited
Statement of Cash Flows
For The Year Ended 30 April 2025
Statement of Cash Flows

| 2025 |  | 2024
| Notes | £ |  | £
Cash flows from operating activities
Net cash generated from operations | 1 | 1,497,748 |  | 2,394,475
Tax paid |  | (502,239 ) |  | (269,617 )
Loss on disposal of tangible assets |  | (1,556) |  | (7,996)
Net cash generated from operating activities |  | 993,953 |  | 2,116,862
Cash flows from investing activities
Proceeds from disposal of intangible assets |  | 1,556 |  | 7,996
Purchase of tangible assets |  | (56,961 ) |  | (91,689 )
Proceeds from disposal of tangible assets |  | 34,902 |  | 70,008
Interest received |  | 15,679 |  | 103,997
Net cash (used in)/generated from investing activities |  | (4,824 ) |  | 90,312
Cash flows from financing activities
Equity dividends paid |  | (2,769,629 ) |  | (2,637,332 )
Decrease in cash and cash equivalents |  | (1,780,500 ) |  | (430,158 )
Cash and cash equivalents at beginning of year | 2 | 3,252,604 |  | 3,710,017
Foreign exchange losses on cash and cash equivalents |  | (115,992 ) |  | (27,255 )
Cash and cash equivalents at end of year | 2 | 1,356,112 |  | 3,252,604

Page 9
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Motive Components Limited
Notes to the Statement of Cash Flows
For The Year Ended 30 April 2025
Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Profit for the financial year | 1,326,296 |  | 1,662,072
Adjustments for:
Tax on profit | 130,558 |  | 475,407
Interest income | (15,679 ) |  | (103,997 )
Depreciation of tangible assets | 74,455 |  | 83,924
Loss on disposal of tangible assets | 1,556 |  | 7,995
Foreign exchange losses | 115,992 |  | 27,255
Movements in working capital:
(Increase)/decrease in stocks | (959,373 ) |  | 282,888
Decrease/(increase) in trade and other debtors | 386,055 |  | (170,674 )
Increase in trade and other creditors | 437,888 |  | 129,605
Net cash generated from operations | 1,497,748 |  | 2,394,475

2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Cash at bank and in hand | 1,356,112 |  | 3,252,604

3. Analysis of changes in net funds

| As at 1 May 2024 | Cash flows | As at 30 April 2025
--- | --- | --- | ---
| £ | £ | £
Cash at bank and in hand | 3,252,604 | (1,896,492) | 1,356,112

Page 10
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Motive Components Limited
Notes to the Financial Statements
For The Year Ended 30 April 2025
Notes to the Financial Statements
1. General Information
Motive Components Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01722280 . The registered office is Mk55 Bramley Road, Bletchley, Milton Keynes, Buckinghamshire, MK1 1PT.
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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Significant judgements and estimations
In the application of the company’s accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognised in period in which the estimate is revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
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. 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:

Plant & Machinery | 25% on reducing balance
Motor Vehicles | 25% on reducing balance
Fixtures & Fittings | 25% on cost
Computer Equipment | 33% on cost

2.5. 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 is determined using the first-in, first-out method. 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.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
Page 11
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Motive Components Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Turnover
Analysis of turnover by geographical market is as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
United Kingdom | 3,109,471 |  | 3,208,720
Europe | 6,602,863 |  | 6,627,062
Rest of the world | 721,066 |  | 732,989
| 10,433,400 |  | 10,568,771

4. Operating Profit
The operating profit is stated after charging:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bad debts | 4,831 |  | 24,109
Depreciation of tangible fixed assets | 74,455 |  | 83,924

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Motive Components Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Audit Services
Audit of the company's financial statements | 7,000 |  | -

6. Staff Costs
Staff costs, including directors' remuneration, were as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Wages and salaries | 1,546,085 |  | 1,395,955
Social security costs | 165,479 |  | 155,661
Other pension costs | 73,015 |  | 54,695
| 1,784,579 |  | 1,606,311

7. Average Number of Employees
Average number of employees, including directors, during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
Office and administration | 35 |  | 32
| 35 |  | 32

8. Directors' remuneration

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Emoluments | 138,649 |  | 121,222
Company contributions to money purchase pension schemes | 3,656 |  | 3,637
| 142,305 |  | 124,859

9. Interest Receivable and Similar Income

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank interest receivable | 15,679 |  | 103,997

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Motive Components Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
10. Tax on Profit

The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 |  | 2024
--- | --- | --- | --- | ---
| 2025 | 2024 | £ |  | £
Current tax
UK Corporation Tax | 25.0% | 25.0% | 299,063 |  | 552,106
Prior period adjustment | (164,131 ) |  | (72,956 )
| 134,932 |  | 479,150
Deferred Tax
Deferred taxation | (4,374 ) |  | (3,743 )
Total tax charge for the period | 130,558 |  | 475,407
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 |  | 2024
| £ |  | £
Profit before tax | 1,456,854 |  | 2,137,479
Tax on profit at 25% (UK standard rate) | 364,213 |  | 534,370
Goodwill/depreciation not allowed for tax | 18,615 |  | 20,981
Expenses not deductible for tax purposes | 389 |  | 1,999
Capital allowances | (8,669 ) |  | (5,244 )
Short term timing differences | (4,374 ) |  | (3,743 )
Prior period adjustment | (164,131 ) |  | (72,956 )
Group relief | (75,485 ) |  | -
Total tax charge for the period | 130,558 |  | 475,407

11. Tangible Assets

| Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Cost
As at 1 May 2024 | 284,650 | 243,854 | 12,474 | 86,835 | 627,813
Additions | 10,700 | 29,995 | 4,915 | 11,351 | 56,961
Disposals | - | (53,750 ) | - | - | (53,750 )
As at 30 April 2025 | 295,350 | 220,099 | 17,389 | 98,186 | 631,024
Depreciation
As at 1 May 2024 | 213,682 | 75,138 | 11,261 | 73,166 | 373,247
Provided during the period | 19,875 | 39,080 | 2,604 | 12,896 | 74,455
Disposals | - | (17,292 ) | - | - | (17,292 )
As at 30 April 2025 | 233,557 | 96,926 | 13,865 | 86,062 | 430,410
Net Book Value
As at 30 April 2025 | 61,793 | 123,173 | 3,524 | 12,124 | 200,614
As at 1 May 2024 | 70,968 | 168,716 | 1,213 | 13,669 | 254,566

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Motive Components Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
12. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Finished goods | 2,216,447 |  | 1,257,074

13. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 1,726,555 |  | 2,019,014
Amounts owed by group undertakings | 3,453 |  | 13,534
Other debtors | 725,372 |  | 808,887
| 2,455,380 |  | 2,841,435

14. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 114,692 |  | 188,344
Other creditors | 17,950 |  | 10,144
Corporation tax | 161,063 |  | 528,370
Taxation and social security | 95,578 |  | 96,779
Accruals and deferred income | 644,463 |  | 139,528
| 1,033,746 |  | 963,165

15. Deferred Taxation
The provision for deferred tax is made up as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 22,797 |  | 27,171

16. Provisions for Liabilities

| Deferred Tax | Total
--- | --- | ---
| £ | £
As at 1 May 2024 | 27,171 | 27,171
Reversals | (4,374 ) | (4,374)
Balance at 30 April 2025 | 22,797 | 22,797

17. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up but not fully paid | £ |  | £
10,000 Ordinary Shares of £ 1.00 each | 10,000 |  | 10,000

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Motive Components Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
18. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 190,000 |  | 106,259
Later than one year and not later than five years | 665,000 |  | 212,518
| 855,000 |  | 318,777

19. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £73,015 (2024: £54,695).
At the balance sheet date contributions of £9,604 (2024: £10,144) were due to the fund and are included in creditors.
20. Dividends

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
On equity shares:
Final dividend paid | 2,769,629 |  | 2,637,332

21. Related Party Disclosures
During the year, sales of £444,844 (2024- £341,141) and purchases of £855,342 (2024- £797,821) were made to and from Autopumps UK a trading subsidiary of the group. At the Balance Sheet date, the net amount of £3,453 (2024- £13,534) is due from Autopumps UK. The company also paid rent of £148,125 (2024- £106,250) to Auto Motive Pumps Holdings Limited in the year.
The bank facilities held by Auto Motive Pumps Holdings Limited are secured by a debenture on the company's assets and those of other group members.
22. Controlling Parties
The company's ultimate controlling party is Auto Motive Pumps Holdings Limited by virtue of their interest in the share capital of the company.
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