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Registration number: 10841573

Moore-Wilson Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Moore-Wilson Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Moore-Wilson Limited

Company Information

Director

Mr SC Wilson

Company secretary

Mrs Coralie Wilson

Registered office

The Portway Centre, 1 Old Sarum Park
Old Sarum
Salisbury
SP4 6EB

Accountants

Grant Sellers Limited
Bank Court
Manor Road
Verwood
Dorset
BH31 6DY

 

Moore-Wilson Limited

(Registration number: 10841573)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

20,217

-

Investments

5

2,023,343

1,507,505

 

2,043,560

1,507,505

Current assets

 

Debtors

6

4,649

-

Cash at bank and in hand

 

12,113

2

 

16,762

2

Creditors: Amounts falling due within one year

7

(623,025)

(66,005)

Net current liabilities

 

(606,263)

(66,003)

Total assets less current liabilities

 

1,437,297

1,441,502

Creditors: Amounts falling due after more than one year

7

(187,500)

(237,500)

Net assets

 

1,249,797

1,204,002

Capital and reserves

 

Called up share capital

120

120

Other reserves

999,882

999,882

Retained earnings

249,795

204,000

Shareholders' funds

 

1,249,797

1,204,002

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 and the option not to file the Profit and Loss Account has been taken.

 

Moore-Wilson Limited

(Registration number: 10841573)
Balance Sheet as at 30 June 2023 (continued)

Approved and authorised by the director on 9 February 2024
 

.........................................
Mr SC Wilson
Director

 

Moore-Wilson 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 Portway Centre, 1 Old Sarum Park
Old Sarum
Salisbury
SP4 6EB

These financial statements were authorised for issue by the director on 9 February 2024.

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.

The presentation currency of the financial statements is the Pound Sterling (£) and is rounded to the nearest £1.

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

Fixtures and fittings

25% on reducing balance

Office equipment

25% on reducing balance

Investments

Investments in subsidiary undertakings are recognised at cost less impairment.

 

Moore-Wilson Limited

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

2

Accounting policies (continued)

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Moore-Wilson Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

Additions

147

20,070

20,217

At 30 June 2023

147

20,070

20,217

Depreciation

Carrying amount

At 30 June 2023

147

20,070

20,217

5

Investments

2023
£

2022
£

Investments in subsidiaries

2,023,343

1,507,505

Subsidiaries

£

Cost or valuation

At 1 July 2022

1,507,505

Additions

515,838

At 30 June 2023

2,023,343

Provision

Carrying amount

At 30 June 2023

2,023,343

At 30 June 2022

1,507,505

On 30 December 2022, the company acquired all the issued share capital of Design Incorporated (UK) Limited from an unconnected party for a consideration of £515,678.
On 30 June 2023 the shares in Moore-Wilson New Media Limited were acquired at book cost from SWCW Limited, a subsidiary company.

 

Moore-Wilson Limited

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

6

Debtors

Current

2023
£

2022
£

Other debtors

4,649

-

 

Moore-Wilson Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

97,840

58,500

Trade creditors

 

3,574

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

394,716

7,505

Taxation and social security

 

64,524

-

Accruals and deferred income

 

10,145

-

Other creditors

 

52,226

-

 

623,025

66,005

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

187,500

237,500

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

187,500

237,500

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

13,340

-

Other borrowings

84,500

58,500

97,840

58,500

 

Moore-Wilson Limited

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

9

On 30 June 2023 SWCW Limited, a subsidiary company, transferred its trade and net assets to the company at book value.