0 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1 1 1 350,000 350,000 350,000 xbrli:pure xbrli:shares iso4217:GBP 04128640 2022-04-01 2023-09-30 04128640 2023-09-30 04128640 2022-03-31 04128640 2022-03-31 04128640 core:NetGoodwill 2022-04-01 2023-09-30 04128640 bus:Director3 2022-04-01 2023-09-30 04128640 core:WithinOneYear 2022-03-31 04128640 core:LandBuildings 2022-04-01 2023-09-30 04128640 core:ShareCapital 2023-09-30 04128640 core:ShareCapital 2022-03-31 04128640 core:RevaluationReserve 2022-03-31 04128640 core:RetainedEarningsAccumulatedLosses 2023-09-30 04128640 core:RetainedEarningsAccumulatedLosses 2022-03-31 04128640 core:NetGoodwill 2022-03-31 04128640 core:NetGoodwill 2022-03-31 04128640 core:LandBuildings 2022-03-31 04128640 core:LandBuildings 2022-03-31 04128640 bus:SmallEntities 2022-04-01 2023-09-30 04128640 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-09-30 04128640 bus:FullAccounts 2022-04-01 2023-09-30 04128640 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-09-30 04128640 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-09-30
COMPANY REGISTRATION NUMBER: 04128640
Moonware Limited
Filleted Unaudited Financial Statements
30 September 2023
Moonware Limited
Financial Statements
Period from 1 April 2022 to 30 September 2023
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 6
Moonware Limited
Balance Sheet
30 September 2023
30 Sep 23
31 Mar 22
Note
£
£
Fixed assets
Intangible assets
4
1
Tangible assets
5
350,000
----
---------
350,001
Current assets
Debtors
6
506,779
Creditors: amounts falling due within one year
7
2,612
---------
-------
Net current assets/(liabilities)
506,779
( 2,612)
---------
---------
Total assets less current liabilities
506,779
347,389
Provisions
Taxation including deferred tax
8,811
---------
---------
Net assets
506,779
338,578
---------
---------
Capital and reserves
Called up share capital
237,272
237,272
Fair value reserve
181,464
Profit and loss account
269,507
( 80,158)
---------
---------
Shareholders funds
506,779
338,578
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss has not been delivered.
For the period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Moonware Limited
Balance Sheet (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 2 October 2023 , and are signed on behalf of the board by:
Mr M D Goodwin
Director
Company registration number: 04128640
Moonware Limited
Notes to the Financial Statements
Period from 1 April 2022 to 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Vicarage, Madeley nr Crewe, Cheshire, CW3 9PQ. The company registration number is 04128640 .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year for the rental of property and equipment.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 material 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.
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.
4. Intangible assets
Goodwill
£
Cost
At 1 April 2022
1
Additions
Other movements
( 1)
----
At 30 September 2023
----
Amortisation
At 1 April 2022 and 30 September 2023
----
Carrying amount
At 30 September 2023
----
At 31 March 2022
1
----
5. Tangible assets
Investment Property
£
Cost
At 1 April 2022
350,000
Disposals
( 350,000)
---------
At 30 September 2023
---------
Carrying amount
At 30 September 2023
---------
At 31 March 2022
350,000
---------
6. Debtors
30 Sep 23
31 Mar 22
£
£
Other debtors
506,779
---------
----
7. Creditors: amounts falling due within one year
30 Sep 23
31 Mar 22
£
£
Corporation tax
500
Other creditors
2,112
----
-------
2,612
----
-------
8. Director's advances, credits and guarantees
During the year, the director maintained a current account with the company. The balances at the start of the year totalled £312 (2022 - £nil) and were included within current liabilities. Total advances during the year were £611,236 (2022 - £nil). Total repayments during the year were £103,696 (2022 - £312). The balances at the end of the year totalled £507,228 (2022 - £312 included within creditors) and are included within debtors. All advances were made on an interest free basis.
9. Employee numbers
The average number of persons employed by the company during the year amounted to nil (2022: nil).