Registered number
10611214
Moosty Limited
Filleted Accounts
29 February 2024
Moosty Limited
Registered number: 10611214
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 74,000 74,000
Tangible assets 4 27,626 34,083
101,626 108,083
Current assets
Stocks 95,000 80,000
Debtors 5 - 4,256
Cash at bank and in hand 1,001 48
96,001 84,304
Creditors: amounts falling due within one year 6 (210,721) (207,759)
Net current liabilities (114,720) (123,455)
Net liabilities (13,094) (15,372)
Capital and reserves
Called up share capital 100 100
Profit and loss account (13,194) (15,472)
Shareholder's funds (13,094) (15,372)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mustafa KUCUK
Director
Approved by the board on 31 July 2024
Moosty Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 74,000
At 29 February 2024 74,000
Amortisation
At 29 February 2024 -
Net book value
At 29 February 2024 74,000
At 28 February 2023 74,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 1,800 42,948 11,233 55,981
At 29 February 2024 1,800 42,948 11,233 55,981
Depreciation
At 1 March 2023 - 15,814 6,084 21,898
Charge for the year - 5,427 1,030 6,457
At 29 February 2024 - 21,241 7,114 28,355
Net book value
At 29 February 2024 1,800 21,707 4,119 27,626
At 28 February 2023 1,800 27,134 5,149 34,083
5 Debtors 2024 2023
£ £
Other debtors - 4,256
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 25,754 20,457
Trade creditors 546 12,495
Taxation and social security costs 2,301 122
Other creditors 182,120 174,685
210,721 207,759
7 Controlling party
Mustafa KUCUK, a company director controls the company by virtue of holding 100% of the issued share capital.
8 Other information
Moosty Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Clock House Parade
North Circular Road
London
N13 6 BG
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