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REGISTERED NUMBER: 00930382 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Moseley Distributors Limited

Moseley Distributors Limited (Registered number: 00930382)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Moseley Distributors Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr James Tweedie





SECRETARY: Mr James Tweedie





REGISTERED OFFICE: First Floor Templeback
10 Templeback
Bristol
BS1 6FL





REGISTERED NUMBER: 00930382 (England and Wales)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Moseley Distributors Limited (Registered number: 00930382)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,661,206 1,700,194
Investments 5 5,000 5,000
1,666,206 1,705,194

CURRENT ASSETS
Stock - 144,243
Debtors 6 329,962 474,684
Cash at bank and in hand 9,879,014 9,910,931
10,208,976 10,529,858
CREDITORS
Amounts falling due within one year 7 28,712 232,252
NET CURRENT ASSETS 10,180,264 10,297,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,846,470

12,002,800

PROVISIONS FOR LIABILITIES 8 189,761 189,761
NET ASSETS 11,656,709 11,813,039

CAPITAL AND RESERVES
Called up share capital 9 20,000 20,000
Revaluation reserve 10 802,934 802,934
Retained earnings 10,833,775 10,990,105
SHAREHOLDERS' FUNDS 11,656,709 11,813,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Moseley Distributors Limited (Registered number: 00930382)

Balance Sheet - continued
30 June 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 March 2024 and were signed by:





Mr James Tweedie - Director


Moseley Distributors Limited (Registered number: 00930382)

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

1. STATUTORY INFORMATION

Moseley Distributors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company in the year under review was that of motor coach distribution.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The Director intends that the company will cease trading within the next 12 months and therefore the financial statements have been prepared on a basis other than that of going concern. No adjustments are required as a result of ceasing to adopt the going concern basis of accounting. The financial statements do not include any provision for the future costs of the winding up of the company as none were committed at the balance sheet date.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Changes in accounting policies
In the prior year, the freehold property of the company was held at cost less depreciation, however the policy is now to hold freehold property at cost or valuation, less impairment, reflecting both the results of an independent valuation carried out in the year and the Director's intent to sell the property in the near future. The effect of this change in policy has been to increase the carrying value of the freehold property by £1,070,579.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has 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.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be measured reliably. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Moseley Distributors Limited (Registered number: 00930382)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets, except for Freehold Property, are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery- Between 10% and 33.33% per annum on cost
Motor vehicles- 25% reducing balance

Freehold Property is accounted for under the revaluation model, with any gains taken to the revaluation reserve, except when reversing any losses previously taken to the Income Statement.

Investments in subsidiaries
Investments in subsidiary undertakings are initially recognised at cost and are subsequently stated at cost less any accumulated impairment losses.

Stocks
New vehicles and parts - Valued at the lower of cost and net realisable value. For parts, cost is computed on a weighted average basis.

Used vehicles - Valued at the lower of cost and net realisable value. In respect of vehicles acquired by part exchange, cost is the lower of part exchange value or open market value at the date of acquisition.

Work in progress - Valued at the lower of cost and net realisable value. Cost includes direct materials and labour plus direct overheads in bringing each contract to its present location and condition.

Net realisable value is based upon an estimated selling price less selling costs and, in the case of work in progress, less estimated costs to completion.

Financial instruments
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Moseley Distributors Limited (Registered number: 00930382)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

Impairment
At each reporting date, assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Provisions
Provisions are recognised when the entity has a present obligation (legal or constructive) as a result of a past event, it is probable that the entity will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Moseley Distributors Limited (Registered number: 00930382)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the income statement over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2022 1,650,000 364,552 135,329 2,149,881
Disposals - (42,520 ) (135,329 ) (177,849 )
At 30 June 2023 1,650,000 322,032 - 1,972,032
DEPRECIATION
At 1 July 2022 - 346,076 103,611 449,687
Eliminated on disposal - (35,250 ) (103,611 ) (138,861 )
At 30 June 2023 - 310,826 - 310,826
NET BOOK VALUE
At 30 June 2023 1,650,000 11,206 - 1,661,206
At 30 June 2022 1,650,000 18,476 31,718 1,700,194

Cost or valuation at 30 June 2023 is represented by:

Freehold Plant and
property machinery Totals
£    £    £   
Valuation in 2022 621,288 - 621,288
Cost 1,028,712 322,032 1,350,744
1,650,000 322,032 1,972,032

Moseley Distributors Limited (Registered number: 00930382)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,028,712 1,028,712
Aggregate depreciation 449,291 449,291

Value of land in freehold land and buildings 47,356 47,356

Freehold property was valued on an open market basis on 31 March 2022 by a firm of chartered surveyors .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 5,000
NET BOOK VALUE
At 30 June 2023 5,000
At 30 June 2022 5,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 83,037
Amounts owed by group undertakings 329,252 329,252
VAT debtor 710 -
Prepayments and accrued income - 62,395
329,962 474,684

Amounts owed by group undertakings are interest free and repayable on demand.

Moseley Distributors Limited (Registered number: 00930382)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 25,712 124,426
Social security and other taxes - 88,690
Accrued charges & deferred
income 3,000 19,136
28,712 232,252

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 189,761 189,761

Deferred
tax
£   
Balance at 1 July 2022 189,761
Balance at 30 June 2023 189,761

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20,000 Ordinary £1 20,000 20,000

10. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 802,934

Retained earnings represent the cumulative undistributed profits of the company since incorporation.

Revaluation reserve represents the cumulative unrealised gains, net of any deferred tax effects, on revaluation of property held by the company.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr James Tweedie.