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Company Registration No. 11886662 (England and Wales)
Move Ai Ltd Unaudited accounts for the year ended 31 December 2023
Move Ai Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
4,430 
Tangible assets
73,831 
93,913 
73,831 
98,343 
Current assets
Debtors
189,457 
137,581 
Cash at bank and in hand
1,531,084 
2,001,215 
1,720,541 
2,138,796 
Creditors: amounts falling due within one year
(221,242)
(194,474)
Net current assets
1,499,299 
1,944,322 
Net assets
1,573,130 
2,042,665 
Capital and reserves
Called up share capital
261 
261 
Share premium
5,952,155 
5,952,155 
Capital contribution reserve
2,278,285 
- 
Profit and loss account
(6,657,571)
(3,909,751)
Shareholders' funds
1,573,130 
2,042,665 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by
Tino Millar Director Company Registration No. 11886662
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Move Ai Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Move Ai Ltd is a private company, limited by shares, registered in England and Wales, registration number 11886662. The registered office is International House, 142 Cromwell Road, London, SW7 4EF.
2
Compliance with accounting standards
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets
Patent and licences Domain names, being amounts paid in connection with the acquisition of domain names and brands in 2019, is being amortised evenly over its estimated useful life. Registered trademarks, being amounts paid in connection with the registration of a trade mark are being amortised over useful life.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33.33%
Computer equipment
33.33%
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Move Ai Ltd Notes to the Accounts for the year ended 31 December 2023
Taxation and Deferred tax
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. 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Pension costs
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.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 January 2023
25,074 
At 31 December 2023
25,074 
Amortisation
At 1 January 2023
20,644 
Charge for the year
4,430 
At 31 December 2023
25,074 
Net book value
At 31 December 2023
- 
At 31 December 2022
4,430 
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Move Ai Ltd Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
132,228 
Additions
28,776 
Disposals
(764)
At 31 December 2023
160,240 
Depreciation
At 1 January 2023
38,315 
Charge for the year
48,094 
At 31 December 2023
86,409 
Net book value
At 31 December 2023
73,831 
At 31 December 2022
93,913 
6
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
66,000 
66,000 
Later than one year and not later than five years
16,500 
82,500 
82,500 
148,500 
7
Controlling party
As there is no majority shareholder the company is controlled by the Board.
8
Average number of employees
During the year the average number of employees was 23 (2022: 23).
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