Movinghub Limited 11634183 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of software and technology Digita Accounts Production Advanced 6.30.9574.0 true true 11634183 2022-07-01 2023-06-30 11634183 2023-06-30 11634183 core:RetainedEarningsAccumulatedLosses 2023-06-30 11634183 core:ShareCapital 2023-06-30 11634183 core:CurrentFinancialInstruments 2023-06-30 11634183 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 11634183 core:Non-currentFinancialInstruments 2023-06-30 11634183 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 11634183 core:OfficeEquipment 2023-06-30 11634183 bus:SmallEntities 2022-07-01 2023-06-30 11634183 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 11634183 bus:FilletedAccounts 2022-07-01 2023-06-30 11634183 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 11634183 bus:RegisteredOffice 2022-07-01 2023-06-30 11634183 bus:Director1 2022-07-01 2023-06-30 11634183 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11634183 core:OfficeEquipment 2022-07-01 2023-06-30 11634183 countries:EnglandWales 2022-07-01 2023-06-30 11634183 2022-06-30 11634183 core:OfficeEquipment 2022-06-30 11634183 2021-07-01 2022-06-30 11634183 2022-06-30 11634183 core:RetainedEarningsAccumulatedLosses 2022-06-30 11634183 core:ShareCapital 2022-06-30 11634183 core:CurrentFinancialInstruments 2022-06-30 11634183 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 11634183 core:Non-currentFinancialInstruments 2022-06-30 11634183 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 11634183 core:OfficeEquipment 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 11634183

Movinghub Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Movinghub Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Movinghub Limited

Company Information

Director

Mr MJ Dornan

Registered office

The Panorama
130 Park Street
Ashford
Kent
TN24 8EZ

 

Movinghub Limited

(Registration number: 11634183)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,436

2,000

Current assets

 

Debtors

5

67,081

56,702

Cash at bank and in hand

 

18,125

2,718

 

85,206

59,420

Creditors: Amounts falling due within one year

6

(847,138)

(562,468)

Net current liabilities

 

(761,932)

(503,048)

Total assets less current liabilities

 

(759,496)

(501,048)

Creditors: Amounts falling due after more than one year

6

(6,129)

(8,507)

Net liabilities

 

(765,625)

(509,555)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(765,725)

(509,655)

Shareholders' deficit

 

(765,625)

(509,555)

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 March 2024
 

.........................................
Mr MJ Dornan
Director

   
     
 

Movinghub Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Panorama
130 Park Street
Ashford
Kent
TN24 8EZ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Movinghub Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Movinghub Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2022 - 12).

 

Movinghub Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2022

2,720

2,720

Additions

1,597

1,597

Disposals

(349)

(349)

At 30 June 2023

3,968

3,968

Depreciation

At 1 July 2022

720

720

Charge for the year

812

812

At 30 June 2023

1,532

1,532

Carrying amount

At 30 June 2023

2,436

2,436

At 30 June 2022

2,000

2,000

5

Debtors

Current

2023
£

2022
£

Trade debtors

65,296

52,602

Prepayments

1,639

1,639

Other debtors

146

2,461

 

67,081

56,702

 

Movinghub Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

490,703

350,368

Trade creditors

 

328,557

190,293

Taxation and social security

 

3,003

4,267

Accruals and deferred income

 

14,993

8,106

Other creditors

 

9,882

9,434

 

847,138

562,468

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

6,129

8,507

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

6,129

8,507

Current loans and borrowings

2023
£

2022
£

Bank borrowings

2,400

2,400

Other loans

488,303

347,803

Directors current account

-

165

490,703

350,368