Company registration number SC547508 (Scotland)
MOZZY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
MOZZY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MOZZY LTD
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
128
160
Current assets
Debtors
4
9,038
7,038
Cash at bank and in hand
12,392
38,159
21,430
45,197
Creditors: amounts falling due within one year
5
(24,600)
(13,600)
Net current (liabilities)/assets
(3,170)
31,597
Net (liabilities)/assets
(3,042)
31,757
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(3,142)
31,657
Total equity
(3,042)
31,757

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 24 January 2024
Mr E Estelles
Director
Company Registration No. SC547508
MOZZY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

MOZZY Ltd (Formerly IOTSIM Ltd) is a private company limited by shares incorporated in Scotland. The registered office is Titanium 1, King's Inch Place, Renfrew, Renfrewshire, United Kingdom, PA4 8WF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

IT Equipment
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MOZZY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
1
3
Tangible fixed assets
IT Equipment
£
Cost
At 1 July 2022 and 30 June 2023
267
Depreciation and impairment
At 1 July 2022
107
Depreciation charged in the year
32
At 30 June 2023
139
Carrying amount
At 30 June 2023
128
At 30 June 2022
160
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
9,038
7,038
MOZZY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,076
-
0
Taxation and social security
17,283
10,887
Other creditors
3,241
2,713
24,600
13,600
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100

 

7
Related party transactions

Included in debtors is amounts due from Spanishalleycat Ltd, the parent company, of £9,000 (2022: £7,000). The amount is unsecured, interest free and has no fixed terms of repayment.

8
Directors' transactions

Included within creditors is £1,342 (2022: £1,302) owed to the directors. The amount is unsecured, interest free and has no fixed terms of repayment.

9
Parent company

In the opinion of the director, E Estelles is the ultimate controlling party by virtue of his shareholding in the parent company.

 

The parent company of Mozzy Ltd is Spanishalleycat Limited registered at Titanium 1, King's Inch Place, Renfrew, PA4 8WF. The principal place of business is The Mount, Newfield Main Road, Kilmarnock, KA2 9BH.

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