Registered number
10006844
The Moon 2016 Limited
Unaudited Filleted Accounts
For the Year Ended
31 January 2023
The Moon 2016 Limited
Registered number: 10006844
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 50,000 50,000
Tangible assets 4 27,653 30,182
77,653 80,182
Current assets
Stocks 684 3,500
Debtors 5 739 985
Cash at bank and in hand 12,776 38,569
14,199 43,054
Creditors: amounts falling due within one year 6 (85,273) (77,979)
Net current liabilities (71,074) (34,925)
Total assets less current liabilities 6,579 45,257
Creditors: amounts falling due after more than one year 7 (52,369) (62,477)
Net liabilities (45,790) (17,220)
Capital and reserves
Called up share capital 2 2
Profit and loss account (45,792) (17,222)
Shareholders' funds (45,790) (17,220)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The 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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H W Whitehead
Director
Approved by the board on 4 October 2023
The Moon 2016 Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Computer equipment over 3 years
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company, including Directors. 5 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 50,000
At 31 January 2023 50,000
Amortisation
At 31 January 2023 -
Net book value
At 31 January 2023 50,000
At 31 January 2022 50,000
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 3,078 41,926 14,318 59,322
Additions - 902 - 902
At 31 January 2023 3,078 42,828 14,318 60,224
Depreciation
At 1 February 2022 - 18,219 10,921 29,140
Charge for the year - 2,582 849 3,431
At 31 January 2023 - 20,801 11,770 32,571
Net book value
At 31 January 2023 3,078 22,027 2,548 27,653
At 31 January 2022 3,078 23,707 3,397 30,182
5 Debtors 2023 2022
£ £
Other debtors 739 985
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,388 5,388
Obligations under finance lease and hire purchase contracts 2,436 2,436
Trade creditors 5,102 8,366
Other taxes and social security costs 38,782 24,519
Other creditors 33,565 37,270
85,273 77,979
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 40,285 45,138
Obligations under finance lease and hire purchase contracts 2,563 2,970
Other creditors 9,521 14,369
52,369 62,477
8 Other information
The Moon 2016 Limited is a private company limited by shares and incorporated in England. Its registered office is:
30 Beck Nook
Staveley
Kendal
Cumbria
LA8 9ND
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