Motor Move (UK) Limited - Period Ending 2016-10-31

Registration number: 01581786

Motor Move (UK) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Lennards
Chartered Accountants
The Vicarage
31 Great King Street
Macclesfield
Cheshire
SK11 6PL

Motor Move (UK) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Motor Move (UK) Limited
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Motor Move (UK) Limited for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Motor Move (UK) Limited, as a body, in accordance with the terms of our engagement letterdated 29 July 2015. Our work has been undertaken solely to prepare for your approval the accounts of Motor Move (UK) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Motor Move (UK) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Motor Move (UK) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Motor Move (UK) Limited. You consider that Motor Move (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Motor Move (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Lennards
Chartered Accountants
The Vicarage
31 Great King Street
Macclesfield
Cheshire
SK11 6PL

16 March 2017

Page 1

Motor Move (UK) Limited
(Registration number: 01581786)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					243,288			279,659
Current assets
Stocks					12,500			18,400
Debtors					110,645			113,468
Cash at bank and in hand					3,800			5,420
					126,945			137,288
Creditors: Amounts falling due within one year					(188,710)			(201,139)
Net current liabilities					(61,765)			(63,851)
Total assets less current liabilities					181,523			215,808
Creditors: Amounts falling due after more than one year					(7,000)			(49,000)
Net assets					174,523			166,808
Capital and reserves
Called up share capital		3			150			150
Profit and loss account					174,373			166,658
Shareholders' funds					174,523			166,808

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Motor Move (UK) Limited
(Registration number: 01581786)
Abbreviated Balance Sheet at 31 October 2016
......... continued

For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 16 March 2017

.........................................
Philip J Taylor
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Motor Move (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

The company's turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year. The whole of the company's turnover was generated from its main activity and arose in the U.K.

Depreciation

Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Asset class	Depreciation method and rate
Short Leasehold (landlords improvements)	Apportioned over the term of the lease
Motor vehicles	20% per annum of cost
Plant and machinery	25% per annum of cost

Stock

Stocks and work in progress have been valued at the lower of cost and net realisable value; in respect of work in progress and finished goods cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may crystallise.

Hire purchase and leasing

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Page 4

Motor Move (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2015		582,223			582,223
Additions		3,594			3,594
At 31 October 2016		585,817			585,817
Depreciation
At 1 November 2015		302,564			302,564
Charge for the year		39,965			39,965
At 31 October 2016		342,529			342,529
Net book value
At 31 October 2016		243,288			243,288
At 31 October 2015		279,659			279,659

Page 5

Motor Move (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		150			150			150			150

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Philip J Taylor
Rent receivable from the company - Stanley Street, Stockport	18,000	-	18,000	-
Rent receivable from the company - Thomas Stockport	12,000	-	12,000	-
	30,000	-	30,000	-

Director's guarantee

During the year the company entered into the following guarantee on behalf of the director:

The director has provided a personal guarntee to the company's bankers in respect of the overdraft facility. on behalf of Philip J Taylor. The maximum liability that may be incurred by the company is £120,000 (2015 - £120,000).

Page 6