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Company No: 00884771 (England and Wales)

MOULD GROWTH CONSULTANTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

MOULD GROWTH CONSULTANTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

MOULD GROWTH CONSULTANTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
MOULD GROWTH CONSULTANTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 47,858 67,695
47,858 67,695
Current assets
Stocks 4 187,956 86,702
Debtors 5 485,614 199,271
Cash at bank and in hand 6 629,973 44,604
1,303,543 330,577
Creditors: amounts falling due within one year 7 ( 655,056) ( 275,783)
Net current assets 648,487 54,794
Total assets less current liabilities 696,345 122,489
Creditors: amounts falling due after more than one year 8 ( 80,990) ( 29,027)
Net assets 615,355 93,462
Capital and reserves
Called-up share capital 9 300 300
Profit and loss account 615,055 93,162
Total shareholders' funds 615,355 93,462

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Mould Growth Consultants Limited (registered number: 00884771) were approved and authorised for issue by the Director. They were signed on its behalf by:

P Munnion
Director

24 October 2023

MOULD GROWTH CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
MOULD GROWTH CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mould Growth Consultants Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 15 years straight line
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 10 % reducing balance
Computer equipment 33.33 % reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 14

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 July 2022 29,742 27,594 54,000 74,869 66,002 252,207
Additions 0 3,193 0 1,874 1,723 6,790
Disposals 0 0 ( 54,000) 0 0 ( 54,000)
At 30 June 2023 29,742 30,787 0 76,743 67,725 204,997
Accumulated depreciation
At 01 July 2022 13,863 26,416 35,785 53,208 55,240 184,512
Charge for the financial year 1,980 257 0 2,213 3,962 8,412
Disposals 0 0 ( 35,785) 0 0 ( 35,785)
At 30 June 2023 15,843 26,673 0 55,421 59,202 157,139
Net book value
At 30 June 2023 13,899 4,114 0 21,322 8,523 47,858
At 30 June 2022 15,879 1,178 18,215 21,661 10,762 67,695

4. Stocks

2023 2022
£ £
Stocks 187,956 86,702

5. Debtors

2023 2022
£ £
Trade debtors 429,029 145,374
Other debtors 56,585 53,897
485,614 199,271

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 10,113 10,100
Short-term deposits 619,860 34,504
629,973 44,604

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 54,151 10,648
Trade creditors 150,234 87,340
Taxation and social security 331,119 72,562
Other creditors 119,552 105,233
655,056 275,783

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 80,990 29,027

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
300 Ordinary shares of £ 1.00 each 300 300

10. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 3,367 1,284