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31/01/2022
2022-01-31
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No description of principal activities is disclosed
2021-02-01
Sage Accounts Production 2020 Update 1 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
13129744
2021-02-01
2022-01-31
13129744
2022-01-31
13129744
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2022-01-31
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13129744
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2021-02-01
2022-01-31
13129744
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2022-01-31
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2021-02-01
2022-01-31
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13129744
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2022-01-31
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2022-01-31
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2022-01-31
13129744
bus:PrivateLimitedCompanyLtd
2021-02-01
2022-01-31
Company registration number:
13129744
Moor Spice Ltd
Trading as
Moor Spice Ltd
Unaudited financial statements
31 January 2022
Moor Spice Ltd
Contents
Directors and other information
Strategic report
Directors report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Statement of cash flows
Notes to the financial statements
Moor Spice Ltd
Directors and other information
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Directors |
Mrs Pragatiben Patel |
(Appointed 4 August 2022) |
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Company number |
13129744 |
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Registered office |
16 Thorn Road |
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Swinton |
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Manchester |
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M27 5GT |
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Business address |
16 Thorn Road |
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Swinton |
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Manchester |
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M27 5GT |
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Accountant |
C and D Accountancy Services |
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16 Thorn Road |
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Swinton |
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Manchester |
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M27 5GT |
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Moor Spice Ltd
Strategic report
Year ended 31 January 2022
This report was approved by the board of directors on 13 September 2022 and signed on behalf of the board by:
Mrs Pragatiben Patel
Director
Moor Spice Ltd
Directors report
Year ended 31 January 2022
The directors present their report and the unaudited financial statements of the company for the year ended 31 January 2022.
Directors
The directors who served the company during the year were as follows:
Dividends
This report was approved by the board of directors on
13 September 2022
and signed on behalf of the board by:
Mrs Pragatiben Patel
Director
Moor Spice Ltd
Statement of comprehensive income
Year ended 31 January 2022
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2022 |
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Note |
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£ |
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Turnover |
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4 |
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50,843 |
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Change in stocks of finished goods and in work in progress |
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(
19,978) |
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_______ |
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30,865 |
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Raw materials |
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(
1,432) |
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Other external charges |
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(
208) |
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Staff costs |
|
6 |
|
(
17,817) |
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Depreciation and other amounts written off tangible and intangible fixed assets |
|
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(
373) |
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Other operating expenses |
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(
14,947) |
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_______ |
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Operating loss |
|
5 |
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(
3,912) |
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_______ |
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Loss before taxation |
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(
3,912) |
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Tax on loss |
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- |
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_______ |
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Loss for the financial year and total comprehensive income |
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(
3,912) |
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_______ |
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All the activities of the company are from continuing operations.
Moor Spice Ltd
Statement of financial position
31 January 2022
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2022 |
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Note |
£ |
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£ |
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Fixed assets |
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Tangible assets |
|
9 |
2,792 |
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_______ |
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2,792 |
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Current assets |
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Cash at bank and in hand |
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194 |
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_______ |
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194 |
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Creditors: amounts falling due |
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within one year |
|
10 |
(
6,898) |
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_______ |
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Net current liabilities |
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(
6,704) |
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_______ |
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Total assets less current liabilities |
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(
3,912) |
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_______ |
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Net liabilities |
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(
3,912) |
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_______ |
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Capital and reserves |
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Profit and loss account |
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(
3,912) |
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_______ |
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Shareholders deficit |
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(
3,912) |
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_______ |
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For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the
board of directors
and authorised for issue on
13 September 2022
, and are signed on behalf of the board by:
Mrs Pragatiben Patel
Director
Company registration number:
13129744
Moor Spice Ltd
Statement of changes in equity
Year ended 31 January 2022
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Profit and loss account |
Total |
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£ |
£ |
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At 1 February 2021 |
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- |
- |
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Loss for the year |
|
(
3,912) |
(
3,912) |
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_______ |
_______ |
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Total comprehensive income for the year |
|
(
3,912) |
(
3,912) |
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_______ |
_______ |
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At 31 January 2022 |
|
(
3,912) |
(
3,912) |
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_______ |
_______ |
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Moor Spice Ltd
Statement of cash flows
Year ended 31 January 2022
|
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2022 |
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£ |
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|
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Cash flows from operating activities |
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Loss for the financial year |
|
(
3,912) |
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|
|
|
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|
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Adjustments for: |
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Depreciation of tangible assets |
|
373 |
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|
|
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Changes in: |
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Trade and other creditors |
|
2,897 |
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_______ |
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Cash generated from operations |
|
(
642) |
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_______ |
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Net cash (used in)/from operating activities |
|
(
642) |
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|
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|
_______ |
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Cash flows from investing activities |
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Purchase of tangible assets |
|
(
3,165) |
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|
_______ |
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Net cash (used in)/from investing activities |
|
(
3,165) |
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_______ |
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Cash flows from financing activities |
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Proceeds from borrowings |
|
4,001 |
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|
_______ |
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Net cash from financing activities |
|
4,001 |
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|
_______ |
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Net increase/(decrease) in cash and cash equivalents |
|
194 |
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Cash and cash equivalents at beginning of year |
|
- |
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|
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|
_______ |
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Cash and cash equivalents at end of year |
|
194 |
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_______ |
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Moor Spice Ltd
Notes to the financial statements
Year ended 31 January 2022
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Moor Spice Ltd, 16 Thorn Road, Swinton, Manchester, M27 5GT.
2.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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 or 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.
4.
Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5.
Operating loss
Operating loss is stated after charging/(crediting):
|
|
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|
2022 |
|
|
|
|
|
£ |
|
|
Depreciation of tangible assets |
|
|
373 |
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
6.
Staff costs
The aggregate payroll costs incurred during the year were:
|
|
|
2022 |
|
|
|
|
£ |
|
|
Wages and salaries |
|
17,817 |
|
|
|
|
_______ |
|
|
|
|
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|
7.
Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:
|
|
|
2022 |
|
|
|
|
£ |
|
|
Remuneration |
|
10,848 |
|
|
|
|
_______ |
|
|
|
|
|
|
8.
Earnings per share
Basic earnings/(loss) per share
The earnings/(loss) and weighted average number of shares used in the calculation of basic earnings/(loss) per share are as follows:
|
|
|
2022 |
|
|
|
|
£ |
|
|
Loss for the year attributable to the owners of the company |
|
(
3,912) |
|
|
|
|
_______ |
|
|
|
|
|
|
Diluted earnings/(loss) per share
The earnings/(loss) and weighted average number of shares used in the calculation of diluted earnings/(loss) per share are as follows:
|
|
|
2022 |
|
|
|
|
£ |
|
|
Earnings/(loss) used in calculation of basic earnings/(loss) per share |
|
(
3,912) |
|
|
|
|
_______ |
|
|
|
|
|
|
9.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 February 2021 |
- |
- |
- |
|
|
|
|
|
Additions |
1,120 |
2,045 |
3,165 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 January 2022 |
1,120 |
2,045 |
3,165 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 February 2021 |
- |
- |
- |
|
|
|
|
|
Charge for the year |
168 |
205 |
373 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 January 2022 |
168 |
205 |
373 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 January 2022 |
952 |
1,840 |
2,792 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
10.
Creditors: amounts falling due within one year
|
|
|
2022 |
|
|
|
|
£ |
|
|
Trade creditors |
|
2,897 |
|
|
Director loan accounts |
|
4,001 |
|
|
|
|
_______ |
|
|
|
|
6,898 |
|
|
|
|
_______ |
|
|
|
|
|
|
11.
Analysis of changes in net debt
|
|
At 1 February 2021 |
Cash flows |
At 31 January 2022 |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Cash and cash equivalents |
- |
194 |
194 |
|
|
|
|
Debt due within one year |
- |
(4,001) |
(4,001) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
- |
(
3,807) |
(
3,807) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
12.
Directors advances, credits and guarantees