Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Mr D T Moore 11/06/2001 Mrs T T Moore 11/06/2001 31 July 2024 The principal activity of the Company during the financial year was amusement machine sales and operations. 04232070 2023-07-31 04232070 bus:Director1 2023-07-31 04232070 bus:Director2 2023-07-31 04232070 2022-07-31 04232070 core:CurrentFinancialInstruments 2023-07-31 04232070 core:CurrentFinancialInstruments 2022-07-31 04232070 core:Non-currentFinancialInstruments 2023-07-31 04232070 core:Non-currentFinancialInstruments 2022-07-31 04232070 core:ShareCapital 2023-07-31 04232070 core:ShareCapital 2022-07-31 04232070 core:FurtherSpecificReserve1ComponentTotalEquity 2023-07-31 04232070 core:FurtherSpecificReserve1ComponentTotalEquity 2022-07-31 04232070 core:RetainedEarningsAccumulatedLosses 2023-07-31 04232070 core:RetainedEarningsAccumulatedLosses 2022-07-31 04232070 core:PlantMachinery 2022-07-31 04232070 core:Vehicles 2022-07-31 04232070 core:PlantMachinery 2023-07-31 04232070 core:Vehicles 2023-07-31 04232070 2022-08-01 2023-07-31 04232070 bus:FilletedAccounts 2022-08-01 2023-07-31 04232070 bus:SmallEntities 2022-08-01 2023-07-31 04232070 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 04232070 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04232070 bus:Director1 2022-08-01 2023-07-31 04232070 bus:Director2 2022-08-01 2023-07-31 04232070 core:PlantMachinery 2022-08-01 2023-07-31 04232070 core:Vehicles 2022-08-01 2023-07-31 04232070 2021-08-01 2022-07-31 04232070 core:Non-currentFinancialInstruments 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 04232070 (England and Wales)

D T MOORE (SALES) LTD

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

D T MOORE (SALES) LTD

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

D T MOORE (SALES) LTD

BALANCE SHEET

As at 31 July 2023
D T MOORE (SALES) LTD

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 111,924 117,203
Investment property 4 1,300,000 1,550,000
1,411,924 1,667,203
Current assets
Stocks 5 884,301 733,517
Debtors 6 45,079 44,339
Cash at bank and in hand 361,225 70,826
1,290,605 848,682
Creditors: amounts falling due within one year 7 ( 941,394) ( 725,441)
Net current assets 349,211 123,241
Total assets less current liabilities 1,761,135 1,790,444
Creditors: amounts falling due after more than one year 8 ( 155,978) ( 198,862)
Provision for liabilities ( 119,642) ( 130,360)
Net assets 1,485,515 1,461,222
Capital and reserves
Called-up share capital 1,000 1,000
Fair value reserve 304,725 363,364
Profit and loss account 1,179,790 1,096,858
Total shareholders' funds 1,485,515 1,461,222

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of D T Moore (Sales) Ltd (registered number: 04232070) were approved and authorised for issue by the Board of Directors on 31 July 2024. They were signed on its behalf by:

Mr D T Moore
Director
D T MOORE (SALES) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
D T MOORE (SALES) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

D T Moore (Sales) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 5

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 August 2022 277,548 81,830 359,378
Additions 0 22,794 22,794
At 31 July 2023 277,548 104,624 382,172
Accumulated depreciation
At 01 August 2022 196,698 45,477 242,175
Charge for the financial year 17,560 10,513 28,073
At 31 July 2023 214,258 55,990 270,248
Net book value
At 31 July 2023 63,290 48,634 111,924
At 31 July 2022 80,850 36,353 117,203

4. Investment property

Investment property
£
Valuation
As at 01 August 2022 1,550,000
Disposals (250,000)
As at 31 July 2023 1,300,000

Valuation

The fair value of the investment properties class of fixed assets at 31 July 2023 has been estimated by the directors who are internal to the company. The basis of this valuation was open market value.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 1,075,992 1,075,992

5. Stocks

2023 2022
£ £
Stocks 884,301 733,517

6. Debtors

2023 2022
£ £
Other debtors 45,079 44,339

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 51,368 51,219
Trade creditors 47,791 56,487
Taxation and social security 107,598 87,880
Obligations under finance leases and hire purchase contracts 10,480 6,764
Other creditors 724,157 523,091
941,394 725,441

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 132,297 183,199
Obligations under finance leases and hire purchase contracts 23,681 15,663
155,978 198,862

There are no amounts included above in respect of which any security has been given by the small entity.

9. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 August 2022, the balance owed to the directors was £71,839. During the year, £105,326 was advanced to the directors, and £100,487 was repaid by the directors. At 31 July 2023, the balance owed to the directors was £67,000.

At 1 August 2021, the balance owed to the directors was £31,987. During the year, £25,508 was advanced to the directors, and £65,360 was repaid by the directors. At 31 July 2022, the balance owed to the directors was £71,839.