Company Registration No. 09027964 (England and Wales)
MOTIV-8 SW LTD
Unaudited accounts
for the year ended 30 November 2021
MOTIV-8 SW LTD
Unaudited accounts
Contents
MOTIV-8 SW LTD
Company Information
for the year ended 30 November 2021
Directors
P Sampson
S Sampson
Company Number
09027964 (England and Wales)
Registered Office
THE OLD SCHOOL
CLYST HONITON
EXETER
EX5 2LZ
ENGLAND
Accountants
Root2growth Ltd
Pynes Hill
Exeter
Devon
EX2 5JL
MOTIV-8 SW LTD
Statement of financial position
as at
30 November 2021
Intangible assets
3,336
4,483
Tangible assets
44,127
10,205
Cash at bank and in hand
147
-
Creditors: amounts falling due within one year
(321,112)
(150,307)
Net current (liabilities)/assets
(225,567)
60,117
Total assets less current liabilities
(178,104)
74,805
Creditors: amounts falling due after more than one year
(118,878)
(174,907)
Net liabilities
(296,982)
(100,102)
Called up share capital
3
3
Profit and loss account
(296,985)
(100,105)
Shareholders' funds
(296,982)
(100,102)
For the year ending 30 November 2021 the company was entitled to exemption from audit 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2022 and were signed on its behalf by
S Sampson
Director
Company Registration No. 09027964
MOTIV-8 SW LTD
Notes to the Accounts
for the year ended 30 November 2021
MOTIV-8 SW LTD is a private company, limited by shares, registered in England and Wales, registration number 09027964. The registered office is THE OLD SCHOOL, CLYST HONITON, EXETER, EX5 2LZ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets where appropriate.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight line
Computer equipment
20% Straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The accounts have been prepared on a going concern basis on the basis that the directors and shareholders will continue to support the company.
MOTIV-8 SW LTD
Notes to the Accounts
for the year ended 30 November 2021
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Intangible fixed assets
Other
At 30 November 2021
7,300
Charge for the year
1,147
At 30 November 2021
3,964
At 30 November 2021
3,336
At 30 November 2020
4,483
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2020
175
15,013
15,188
Additions
9,773
31,623
41,396
At 30 November 2021
9,948
46,636
56,584
At 1 December 2020
157
4,826
4,983
Charge for the year
995
6,479
7,474
At 30 November 2021
1,152
11,305
12,457
At 30 November 2021
8,796
35,331
44,127
At 30 November 2020
18
10,187
10,205
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Fixtures & fittings
8,796
-
- Computer equipment
24,150
-
MOTIV-8 SW LTD
Notes to the Accounts
for the year ended 30 November 2021
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
49,121
23,328
Amounts due from group undertakings etc.
2,065
1,075
Deferred tax asset
-
22,145
Accrued income and prepayments
35,814
53,789
Other debtors
8,398
110,087
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
48,897
25,223
Obligations under finance leases and hire purchase contracts
18,069
-
Trade creditors
34,634
20,332
Amounts owed to group undertakings and other participating interests
14,251
29,336
Taxes and social security
54,794
32,858
Other creditors
4,152
1,621
Loans from directors
78,995
-
8
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
106,507
174,907
Obligations under finance leases and hire purchase contracts
12,371
-
9
Deferred taxation
2021
2020
Tax losses carried forward
-
(22,145)
Provision at start of year
(22,145)
-
Charged/(credited) to the profit and loss account
22,145
(22,145)
Provision at end of year
-
(22,145)
10
Share capital
2021
2020
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
MOTIV-8 SW LTD
Notes to the Accounts
for the year ended 30 November 2021
At the reporting date the company owed pension contributions amounting to £2,661 (2020: £1,621).
During the period directors repaid a loan that was outstanding. The amount owed by the directors at 30 November 2021 was £nil (2020: £101,509).
13
Average number of employees
During the year the average number of employees was 24 (2020: 12).