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Reports Dated : 20/08/2024 Registered Number: 14909763
England and Wales

 

 

 

MOY SERVICES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 30 June 2024
Directors Adedamola Sunday ALABI
Adenike Igbayilola ALABI
Registered Number 14909763
Registered Office 26 SHARPLEY ROAD
LOUGHBOROUGH ENGLAND
LE11 4PN
Accountants Just in Time Accountants Ltd
10 HAMPTON CLOSE
Coalville
Leicestershire
LE67 4DH
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 June 2024.
Principal activities
Principal activity of the company during the financial period was of ...
Directors
The directors who served the company throughout the period were as follows:
Adedamola Sunday ALABI
Adenike Igbayilola ALABI
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Adedamola Sunday ALABI
Director

Date approved: 20 August 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of MOY SERVICES LTD for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MOY SERVICES LTD for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of MOY SERVICES LTD , as a body, in accordance with the terms of our engagement letter dated 20 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of MOY SERVICES LTD and state those matters that we have agreed to state to the Board of Directors of MOY SERVICES LTD , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MOY SERVICES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MOY SERVICES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MOY SERVICES LTD . You consider that MOY SERVICES LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of MOY SERVICES LTD . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 June 2024


Just in Time Accountants Ltd
10 HAMPTON CLOSE
Coalville
Leicestershire
LE67 4DH
20 August 2024
3
 
 
Notes
 
30/06/2024
£
Turnover 43,325 
Cost of sales (26,041)
Gross profit 17,284 
Selling and distribution costs (280)
Administrative expenses (13,770)
Other operating income (700)
Operating profit 2,534 
Profit/(Loss) on ordinary activities before taxation 2,534 
Tax on profit on ordinary activities (709)
Profit/(Loss) for the financial period 1,825 
 
4
 
 
Notes
 
30/06/2024
£
Fixed assets    
Tangible fixed assets 3 4,157 
4,157 
Current assets    
Debtors 4 800 
Cash at bank and in hand 1,405 
2,205 
Creditors: amount falling due within one year 5 (190)
Net current assets 2,015 
 
Total assets less current liabilities 6,172 
Creditors: amount falling due after more than one year 6 (500)
Provisions for liabilities 7 (709)
Net assets 4,963 
 

Capital and reserves
   
Called up share capital 8 3,138 
Profit and loss account 1,825 
Shareholders' funds 4,963 
 


For the period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 August 2024 and were signed on its behalf by:


-------------------------------
Adedamola Sunday ALABI
Director
5
  Equity share capital   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £
At 01 June 2023 3,138  3,138 
Profit for the period 1,825  1,825 
Total comprehensive income for the period 1,825  1,825 
Total investments by and distributions to owners
At 30 June 2024 3,138  1,825  4,963 
6
General Information
MOY SERVICES LTD is a private company, limited by shares, registered in England and Wales, registration number 14909763, registration address 26 SHARPLEY ROAD, LOUGHBOROUGH ENGLAND, LE11 4PN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 20% Straight Line
Fixtures and Fittings 25% Straight Line
Motor Vehicles 25% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 June 2023 3,000    750    650    4,400 
Additions     250    250 
Disposals      
At 30 June 2024 3,000    750    900    4,650 
Depreciation
At 01 June 2023      
Charge for period 125    188    180    493 
On disposals      
At 30 June 2024 125    188    180    493 
Net book values
Closing balance as at 30 June 2024 2,875    562    720    4,157 
Opening balance as at 01 June 2023 3,000    750    650    4,400 


4.

Debtors: amounts falling due within one year

30/06/2024
£
Amounts Recoverable on Contracts 800 
800 

5.

Creditors: amount falling due within one year

30/06/2024
£
Directors' Current Accounts 190 
190 

6.

Creditors: amount falling due after more than one year

30/06/2024
£
Accrued Expenses 500 
500 

7.

Provisions for liabilities

30/06/2024
£
Charged to Profit & Loss 709 
709 

8.

Share Capital

Allotted, called up and fully paid
30/06/2024
£
1 Class A share of £1.00 each

7