Registered number
12121112
Moreissh Ltd
Filleted Accounts
31 July 2022
Moreissh Ltd
Registered number: 12121112
Balance Sheet
as at 31 July 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 2,400 3,600
Tangible assets 4 2,208 80
4,608 3,680
Current assets
Stocks 78,520 69,115
Debtors 5 995 -
Cash at bank and in hand 10,791 2,474
90,306 71,589
Creditors: amounts falling due within one year 6 (71,556) (62,102)
Net current assets 18,750 9,487
Total assets less current liabilities 23,358 13,167
Creditors: amounts falling due after more than one year 7 (40,655) (44,561)
Net liabilities (17,297) (31,394)
Capital and reserves
Called up share capital 1 1
Profit and loss account (17,298) (31,395)
Shareholder's funds (17,297) (31,394)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs Nikiben Bharatkumar Shah
Director
Approved by the board on 18 October 2023
Moreissh Ltd
Notes to the Accounts
for the year ended 31 July 2022
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:
Fixtures and fittings 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2021 6,000
At 31 July 2022 6,000
Amortisation
At 1 August 2021 2,400
Provided during the year 1,200
At 31 July 2022 3,600
Net book value
At 31 July 2022 2,400
At 31 July 2021 3,600
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Fixtures & Fittings
£
Cost
At 1 August 2021 142
Additions 2,518
At 31 July 2022 2,660
Depreciation
At 1 August 2021 62
Charge for the year 390
At 31 July 2022 452
Net book value
At 31 July 2022 2,208
At 31 July 2021 80
5 Debtors 2022 2021
£ £
Trade debtors 995 -
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 33,331 43,317
Trade creditors 31,437 18,078
Taxation and social security costs 3,719 (893)
Other creditors 3,069 1,600
71,556 62,102
7 Creditors: amounts falling due after one year 2022 2021
£ £
Director's Loan Account ** 40,655 44,561
** The Company enjoys full support from the Director, who has no intention of making any substantial withdrawal from the loan to it, and as such these accounts have been prepared on the basis of there being no going concern issues.
8 Other information
Moreissh Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Main Street
Huthwaite
Sutton-in-Ashfield
NG17 2QW
Moreissh Ltd 12121112 false 2021-08-01 2022-07-31 2022-07-31 VT Final Accounts October 2023 Mrs Nikiben Bharatkumar Shah No description of principal activity 12121112 2020-08-01 2021-07-31 12121112 core:WithinOneYear 2021-07-31 12121112 core:AfterOneYear 2021-07-31 12121112 core:ShareCapital 2021-07-31 12121112 core:RetainedEarningsAccumulatedLosses 2021-07-31 12121112 2021-08-01 2022-07-31 12121112 bus:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 12121112 bus:AuditExemptWithAccountantsReport 2021-08-01 2022-07-31 12121112 bus:Director40 2021-08-01 2022-07-31 12121112 1 2021-08-01 2022-07-31 12121112 2 2021-08-01 2022-07-31 12121112 core:Goodwill 2021-08-01 2022-07-31 12121112 core:PlantMachinery 2021-08-01 2022-07-31 12121112 countries:England 2021-08-01 2022-07-31 12121112 bus:FRS102 2021-08-01 2022-07-31 12121112 bus:FullAccounts 2021-08-01 2022-07-31 12121112 2022-07-31 12121112 core:WithinOneYear 2022-07-31 12121112 core:AfterOneYear 2022-07-31 12121112 core:ShareCapital 2022-07-31 12121112 core:RetainedEarningsAccumulatedLosses 2022-07-31 12121112 core:Goodwill 2022-07-31 12121112 core:PlantMachinery 2022-07-31 12121112 2021-07-31 12121112 core:Goodwill 2021-07-31 12121112 core:PlantMachinery 2021-07-31 iso4217:GBP xbrli:pure