Movement Industries Limited 14266681 false 2022-08-01 2023-08-31 2023-08-31 The principal activity of the company is the provision of a campaign mangement platform. Digita Accounts Production Advanced 6.30.9574.0 true 14266681 2022-08-01 2023-08-31 14266681 2023-08-31 14266681 bus:OrdinaryShareClass1 2023-08-31 14266681 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:CurrentFinancialInstruments 2023-08-31 14266681 core:CurrentFinancialInstruments 2023-08-31 14266681 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 14266681 core:Non-currentFinancialInstruments 2023-08-31 14266681 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 14266681 core:OtherPropertyPlantEquipment 2023-08-31 14266681 bus:SmallEntities 2022-08-01 2023-08-31 14266681 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-08-31 14266681 bus:FullAccounts 2022-08-01 2023-08-31 14266681 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-08-31 14266681 bus:RegisteredOffice 2022-08-01 2023-08-31 14266681 bus:Director1 2022-08-01 2023-08-31 14266681 bus:Director2 2022-08-01 2023-08-31 14266681 bus:Director3 2022-08-01 2023-08-31 14266681 bus:OrdinaryShareClass1 2022-08-01 2023-08-31 14266681 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-08-31 14266681 core:OtherPropertyPlantEquipment 2022-08-01 2023-08-31 14266681 core:PlantMachinery 2022-08-01 2023-08-31 14266681 1 2022-08-01 2023-08-31 14266681 countries:AllCountries 2022-08-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14266681

Movement Industries Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 August 2022 to 31 August 2023

 

Movement Industries Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Movement Industries Limited

Company Information

Directors

J M Carrington

J Rees

R S J Shakespeare

Registered office

483 Green Lanes
London
N13 4BS

 

Movement Industries Limited

(Registration number: 14266681)
Balance Sheet as at 31 August 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

2,832

Current assets

 

Debtors

6

131,635

Other financial assets

5

19,195

Cash at bank and in hand

 

618,745

 

769,575

Creditors: Amounts falling due within one year

7

(492,462)

Net current assets

 

277,113

Total assets less current liabilities

 

279,945

Creditors: Amounts falling due after more than one year

7

(85,909)

Net assets

 

194,036

Capital and reserves

 

Called up share capital

100

Retained earnings

193,936

Shareholders' funds

 

194,036

For the financial period ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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.

Approved and authorised by the Board on 1 May 2024 and signed on its behalf by:
 

.........................................
J Rees
Director

 

Movement Industries Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 August 2023

1

General information

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

The address of its registered office is:
483 Green Lanes
London
N13 4BS
United Kingdom

These financial statements were authorised for issue by the Board on 1 May 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.

Disclosure of long or short period

These financial statements have been prepared covering a period of 13 months, from the date of incorporation to 31st August 2023.

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.

 

Movement Industries Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 August 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Plant and machinery

25% on cost

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.


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

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.

 

Movement Industries Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 August 2023


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

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 directors) during the period, was 3.

 

Movement Industries Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 August 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

2,945

2,945

At 31 August 2023

2,945

2,945

Depreciation

Charge for the period

113

113

At 31 August 2023

113

113

Carrying amount

At 31 August 2023

2,832

2,832

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

Additions

19,195

19,195

At 31 August 2023

19,195

19,195

Impairment

Carrying amount

At 31 August 2023

19,195

19,195

Current financial assets consists of an investment in an index tracking fund, administered by Wise Bank. The Company has instant access to the invested balance.

6

Debtors

Current

2023
£

Trade debtors

105,953

Other debtors

25,682

 

131,635

 

Movement Industries Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 August 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

3,945

Taxation and social security

356,080

Accruals and deferred income

105,975

Other creditors

26,462

492,462

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

85,909

8

Loans and borrowings

2023
£

Non-current loans and borrowings

Convertible debt

85,909

During the year to Company issued convertible loan notes totalling US$100,000, paying an annualised interest rate of 8%. At 31 August 2023 the convertible loans, including accrued interest totalled US$108,795. Based on the exchange rate at the balance sheet date, the £ equivalent was £85,909.

9

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £0.01 each

10,000

100.00

     
 

Movement Industries Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 August 2023

10

Control

There is no controlling party.