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COMPANY REGISTRATION NUMBER: 08568908
MOORLAW LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2023
MOORLAW LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
£
CURRENT ASSETS
Debtors
5
9,776
3,770
Cash at bank and in hand
54
6
--------
--------
9,830
3,776
CREDITORS: amounts falling due within one year
6
8,467
2,438
--------
--------
NET CURRENT ASSETS
1,363
1,338
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,363
1,338
--------
--------
NET ASSETS
1,363
1,338
--------
--------
MOORLAW LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
1,362
1,337
--------
--------
SHAREHOLDERS FUNDS
1,363
1,338
--------
--------
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 income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 March 2024 , and are signed on behalf of the board by:
Mrs J Hart
Director
Company registration number: 08568908
MOORLAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Far Slack Farm, Back Lane, Stanbury, Keighley, BD22 0HL, West Yorkshire.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Current and deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exception: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Office Equipment
-
25% straight line
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 1 July 2022 and 30 June 2023
2,250
2,250
--------
--------
Depreciation
At 1 July 2022 and 30 June 2023
2,250
2,250
--------
--------
Carrying amount
At 30 June 2023
--------
--------
At 30 June 2022
--------
--------
5. DEBTORS
2023
2022
£
£
Trade debtors
1,347
Other debtors
8,429
3,770
--------
--------
9,776
3,770
--------
--------
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
7,747
770
Other creditors
720
1,668
--------
--------
8,467
2,438
--------
--------
7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year Mrs J Hart had unsecured loans from the company which were interest free and repayable on demand. The maximum amount outstanding during the year was £41,927 . The balance owing to the company from Mrs J Hart as at 30 June 2023 was £8,429 (2022 - £3,769), which was repaid after the year end.