WESTON MURRAY & MOORE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2022
Company Registration Number: 02317026
WESTON MURRAY & MOORE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 10
WESTON MURRAY & MOORE LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022
DIRECTORS
B Knight
resigned 11 August 2023
A J Knight
resigned 11 August 2023
S Evans
appointed 11 August 2023
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
1 Bell Yard
London
WC2A 2JR
COMPANY REGISTRATION NUMBER
02317026 England and Wales
WESTON MURRAY & MOORE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
Notes 2022 2021
£ £
FIXED ASSETS
Tangible assets 5 70,093 121,494
CURRENT ASSETS
Debtors 6 97,457 113,307
Investments 46,120 49,923
Cash at bank and in hand 115,774 166,088
259,351 329,318
CREDITORS: Amounts falling due within one year 7 100,383 81,793
NET CURRENT ASSETS 158,968 247,525
TOTAL ASSETS LESS CURRENT LIABILITIES 229,061 369,019
CREDITORS: Amounts falling due after more than one year 8 60,237 104,885
Provisions for liabilities and charges 13,849 17,287
NET ASSETS 154,975 246,847
CAPITAL AND RESERVES
Called up share capital 55,026 55,026
Distributable profit and loss account 99,949 191,821
SHAREHOLDER'S FUNDS 154,975 246,847
WESTON MURRAY & MOORE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
S Evans
Director
Date approved by the board: 27 September 2023
WESTON MURRAY & MOORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1 GENERAL INFORMATION
Weston Murray & Moore Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
1 Bell Yard The Stableblock
London Castle Farm
WC2A 2JR Clifton Road
Deddington
Oxon
OX15 0TP
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of financial services as soon as there is a right to consideration and is determined by reference to the value of the work performed.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Improvements to leasehold Straight line basis at 10% per annum
Fixtures, fittings and computer equipment Straight line basis at 33% per annum
Motor vehicles Reducing balance basis at 25% per annum
Buildings Straight line basis at 6% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
WESTON MURRAY & MOORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
WESTON MURRAY & MOORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Assets held under finance leases are recognised in accordance with the company's policy for tangible fixed assets. The corresponding obligations to lessors under finance leases are treated in the balance sheet as a liability. The assets and liabilities under finance leases are recognised at amounts equal to the fair value of the assets, or if lower, the present value of minimum lease payments, determined at the inception of the lease.
Minimum lease payments are apportioned between finance charges and the reduction in the outstanding liabilities using the effective interest method. The finance charge is allocated to each period during the lease so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in the profit and loss account.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
WESTON MURRAY & MOORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2022 2021
Average number of employees 7 7
WESTON MURRAY & MOORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
5 TANGIBLE ASSETS
Improvements to leasehold Fixtures, fittings and computer equipment Motor vehicles Buildings Total
£ £ £ £ £
Cost
At 1 January 2022 3,667 56,642 120,845 36,631 217,785
Additions - 4,965 - - 4,965
Disposals - (10,984) - (36,631) (47,615)
At 31 December 2022 3,667 50,623 120,845 - 175,135
Accumulated depreciation
At 1 January 2022 1,682 49,454 38,244 6,911 96,291
Charge for year 367 4,304 20,650 - 25,321
Disposals - (9,659) - (6,911) (16,570)
At 31 December 2022 2,049 44,099 58,894 - 105,042
Net book value
At 1 January 2022 1,985 7,188 82,601 29,720 121,494
At 31 December 2022 1,618 6,524 61,951 - 70,093
6 DEBTORS
2022 2021
£ £
Trade debtors 1,458 6,696
Prepayments and accrued income 21,367 32,649
Other debtors 74,632 73,962
97,457 113,307
WESTON MURRAY & MOORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
7 CREDITORS: Amounts falling due within one year
2022 2021
£ £
Trade creditors 7,825 6,328
Taxation and social security 16,722 26,882
Hire purchase contracts and finance leases 34,819 14,789
Accruals and deferred income 4,317 2,293
Other creditors 36,700 31,501
100,383 81,793
8 CREDITORS: Amounts falling due after more than one year
2022 2021
£ £
Bank loans and overdrafts 27,442 37,271
Hire purchase contracts and finance leases 32,795 67,614
60,237 104,885
9 SECURED DEBTS
The hire purchase contracts and finance leases are secured on the assets concerned.
10 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2022 2021
£ £
In less than one year 1,254 15,058
In more than one but less than five years - 1,254
1,254 16,312
WESTON MURRAY & MOORE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
11 DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The following director's advances, credits and guarantees took place during the year
Balance at 1 January 2022 Amounts advanced Amounts repaid Balance at 31 December 2022
£ £ £ £
B & A J Knight 33,096 1,015 4,586 29,525
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.
12 POST BALANCE SHEET EVENTS
A three-year lease was entered into on the 5th January 2023. The lease amount is £51,696 per annum commencing on 1st February 2023.
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