Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Intangible assets | 4 |
|
|
|
Tangible assets | 5 |
|
|
|
Investment property | 6 |
|
|
|
Investments | 7 |
|
|
|
768,463 | 139,386 | |||
Current assets | ||||
Debtors | 8 |
|
|
|
Investments | 9 |
|
|
|
Cash at bank and in hand |
|
|
||
714,832 | 734,625 | |||
Creditors: amounts falling due within one year | 10 | (
|
(
|
|
Net current assets | 706,970 | 661,811 | ||
Total assets less current liabilities | 1,475,433 | 801,197 | ||
Creditors: amounts falling due after more than one year | 11 | (
|
(
|
|
Provision for liabilities | (
|
(
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 12 |
|
|
|
Revaluation reserve |
|
(
|
||
Fair value reserve |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Director's responsibilities:
The financial statements of Moor Holdings Limited (registered number:
Mr R C Short
Director |
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.
Moor Holdings Limited (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 Francis Clark LLP, Chartered Accountants, Melville Building East, Royal William Yard , Plymouth, PL1 3RP, 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 £.
As described in the Intangible Assets policy, the accounting for cryptocurrency has changed this year to reflect the emerging consensus in accounting for these assets. As a result, the prior year comparatives have been restated. The impact of this has been to show unrealised gains on these assets in a Revaluation reserve, and to show movements in the assets in Other Comprehensive Income.
Adjustment for Revaluations on Cryptocurrencies held by the company.
Re-statement of Crypto currencies from investments to intangible assets and further adjustments for the revaluations through the retained earnings and revaluations reserves.
These are shown in note 2.
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.
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.
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 average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
The cryptocurrency is measured at a revalued amount, which in practice means it is measured at market value each year end. Changes in value are recognised in Other Comprehensive Income and accumulate in a Revaluation Reserve.
Changes in value will eventually be taxed if/when the cryptocurrency is sold, and therefore a deferred tax liability arises on them. Changes in this liability are also recognised in Other Comprehensive Income and also accumulate in the Revaluation Reserve.
This treatment is a change from previous years to reflect the emerging consensus in accounting, and as a result, the prior year comparatives have also been restated.
Other intangible assets | not amortised |
Plant and machinery |
|
Vehicles |
|
Fixtures and fittings |
|
Office equipment |
|
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
As previously reported | Adjustment | As restated | ||||
Year ended 30 April 2023 | £ | £ | £ | |||
Investments | 25,000 | (25,000) | 0 | |||
Intangible assets | 0 | 25,000 | 25,000 | |||
Retained earnings | (773,589) | (398,000) | (1,171,589) | |||
Revaluation reserve | 0 | 398,000 | 398,000 |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
|
|
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 01 May 2023 |
|
|
|
Additions |
|
|
|
Revaluation |
|
|
|
At 30 April 2024 |
|
|
|
Accumulated amortisation | |||
At 01 May 2023 |
|
|
|
At 30 April 2024 |
|
|
|
Net book value | |||
At 30 April 2024 |
|
|
|
At 30 April 2023 |
|
|
Plant and machinery | Vehicles | Fixtures and fittings | Office equipment | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 May 2023 |
|
|
|
|
|
||||
Additions |
|
|
|
|
|
||||
At 30 April 2024 |
|
|
|
|
|
||||
Accumulated depreciation | |||||||||
At 01 May 2023 |
|
|
|
|
|
||||
Charge for the financial year |
|
|
|
|
|
||||
At 30 April 2024 |
|
|
|
|
|
||||
Net book value | |||||||||
At 30 April 2024 |
|
|
|
|
|
||||
At 30 April 2023 |
|
|
|
|
|
Investment property | |
£ | |
Valuation | |
As at 01 May 2023 |
|
Fair value movement | 35,557 |
As at 30 April 2024 |
|
Investments in subsidiaries
2024 | |
£ | |
Cost | |
At 01 May 2023 |
|
At 30 April 2024 |
|
Carrying value at 30 April 2024 |
|
Carrying value at 30 April 2023 |
|
2024 | 2023 | ||
£ | £ | ||
Amounts owed by Group undertakings |
|
|
|
Amounts owed by director |
|
|
|
Prepayments |
|
|
|
VAT recoverable |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Other investments – at cost less impairment |
|
|
|
Fair value movement |
|
(
|
|
Additions |
|
|
|
812,907 | 257,232 |
The investments have not been valued by an independent party.
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
|
Trade creditors |
|
|
|
Amounts owed to Group undertakings |
|
|
|
Amounts owed to director |
|
|
|
Accruals |
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
|
Obligations under finance leases and hire purchase contracts (secured) |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
|
|
|
|
102 | 102 |