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Company registration number: 11120459
Move It Max Limited
Unaudited filleted financial statements
31 March 2023
Move It Max Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Move It Max Limited
Directors and other information
Directors Max Vuarnoz
Jean-Pierre Vuarnoz
Company number 11120459
Registered office St James's House
Austenwood Common
Gerrards Cross
Buckinghamshire
SL9 8SG
Accountants Nicholsons
St James's House
Austenwood Common
Gerrards Cross
Buckinghamshire
SL9 8SG
Bankers Handelsbanken
Independent House
William Street
Windsor
SL4 1BA
Move It Max Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Move It Max Limited
Year ended 31 March 2023
As described on the Statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2023, as set out on pages 3 to 8.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Nicholsons
St James's House
Austenwood Common
Gerrards Cross
Buckinghamshire
SL9 8SG
27 November 2023
Move It Max Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 10,841 18,800
_______ _______
10,841 18,800
Current assets
Debtors 6 570 562
Cash at bank and in hand 3,295 6,707
_______ _______
3,865 7,269
Creditors: amounts falling due
within one year 7 ( 56,862) ( 35,060)
_______ _______
Net current liabilities ( 52,997) ( 27,791)
_______ _______
Total assets less current liabilities ( 42,156) ( 8,991)
Creditors: amounts falling due
after more than one year 8 ( 9,109) ( 14,650)
_______ _______
Net liabilities ( 51,265) ( 23,641)
_______ _______
Capital and reserves
Called up share capital 100 100
Loan Capital 34,792 34,792
Profit and loss account ( 86,157) ( 58,533)
_______ _______
Shareholders deficit ( 51,265) ( 23,641)
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
Max Vuarnoz
Director
Company registration number: 11120459
Move It Max Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is St James's House, Austenwood Common, Gerrards Cross, Buckinghamshire, SL9 8SG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis 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 and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 25,026 25,000
Social security costs 2,310 2,230
_______ _______
27,336 27,230
_______ _______
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 April 2022 and 31 March 2023 1,206 39,650 40,856
_______ _______ _______
Depreciation
At 1 April 2022 1,177 20,879 22,056
Charge for the year 29 7,930 7,959
_______ _______ _______
At 31 March 2023 1,206 28,809 30,015
_______ _______ _______
Carrying amount
At 31 March 2023 - 10,841 10,841
_______ _______ _______
At 31 March 2022 29 18,771 18,800
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 570 562
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 4,951 4,800
Social security and other taxes 6,033 3,747
Other creditors 45,878 26,513
_______ _______
56,862 35,060
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 3,809 9,350
Other creditors 5,300 5,300
_______ _______
9,109 14,650
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Max Vuarnoz ( 5,540) ( 2,081) ( 7,621)
Jean-Pierre Vuarnoz ( 3,703) ( 15,968) ( 19,671)
_______ _______ _______
( 9,243) ( 18,049) ( 27,292)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Max Vuarnoz 3,874 ( 8,014) (4,140)
Jean-Pierre Vuarnoz - ( 3,703) ( 3,703)
_______ _______ _______
3,874 ( 11,717) (7,843)
_______ _______ _______