442 Motivation Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07492126 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

442 MOTIVATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W Sowden

Miss C Ross

REGISTERED OFFICE:

Busby Stoop Garage

Busby Stoop

Thirsk

North Yorkshire

YO7 4EQ

REGISTERED NUMBER:

07492126 (England and Wales)

ACCOUNTANTS:

Morrell Middleton

3 Cayley Court

Clifton Moor

York

North Yorkshire

YO30 4WH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

232,174

236,349

232,174

236,349

CURRENT ASSETS

Stocks

8,797

10,563

Debtors

6

134,803

93,419

Cash at bank and in hand

200

100

143,800

104,082

CREDITORS

Amounts falling due within one year

7

269,670

215,674

NET CURRENT LIABILITIES

(125,870

)

(111,592

)

TOTAL ASSETS LESS CURRENT LIABILITIES

106,304

124,757

CREDITORS

Amounts falling due after more than one year

8

(44,535

)

(80,804

)

PROVISIONS FOR LIABILITIES

(42,272

)

(42,941

)

NET ASSETS

19,497

1,012

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

18,497

12

SHAREHOLDERS' FUNDS

19,497

1,012

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 15 January 2021 and were signed on its behalf by:

W Sowden - Director

1.	STATUTORY INFORMATION

442 Motivation 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, excluding discounts, rebates, value added tax and other sales taxes.

Franchise

A franchise was purchased in 2011 and has been amortised over its useful life of 5 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

Fee

£

COST

At 1 February 2019

and 31 January 2020

5,000

AMORTISATION

At 1 February 2019

and 31 January 2020

5,000

NET BOOK VALUE

At 31 January 2020

-

At 31 January 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2019

353,111

Additions

72,934

Disposals

(96,475

)

At 31 January 2020

329,570

DEPRECIATION

At 1 February 2019

116,762

Charge for year

27,709

Eliminated on disposal

(47,075

)

At 31 January 2020

97,396

NET BOOK VALUE

At 31 January 2020

232,174

At 31 January 2019

236,349

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 February 2019

227,575

Additions

25,740

Disposals

(77,624

)

Reclassification/transfer

20,938

At 31 January 2020

196,629

DEPRECIATION

At 1 February 2019

73,781

Charge for year

18,410

Eliminated on disposal

(45,480

)

Reclassification/transfer

(10,500

)

At 31 January 2020

36,211

NET BOOK VALUE

At 31 January 2020

160,418

At 31 January 2019

153,794

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

72,015

30,370

Other debtors

62,788

63,049

134,803

93,419

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

22,789

8,736

Hire purchase contracts

71,998

68,328

Trade creditors

91,722

66,454

Taxation and social security

36,969

25,125

Other creditors

46,192

47,031

269,670

215,674

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

44,535

80,804