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Registration number: 09365396

Moyle And Moyle Trading Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Moyle And Moyle Trading Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Moyle And Moyle Trading Group Limited

Company Information

Directors

Mr JD Moyle

Mr DH Moyle

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Moyle And Moyle Trading Group Limited

(Registration number: 09365396)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,006

4,008

Investment property

5

18,630,502

18,630,502

Investments

6

4,000

4,000

 

18,637,508

18,638,510

Current assets

 

Debtors

7

3,439,350

3,241,330

Cash at bank and in hand

 

1,697,366

91,401

 

5,136,716

3,332,731

Creditors: Amounts falling due within one year

8

(2,935,036)

(1,394,432)

Net current assets

 

2,201,680

1,938,299

Total assets less current liabilities

 

20,839,188

20,576,809

Creditors: Amounts falling due after more than one year

8

(7,545,000)

(7,295,000)

Provisions for liabilities

(356,431)

(270,888)

Net assets

 

12,937,757

13,010,921

Capital and reserves

 

Called up share capital

11

2,000

2,000

Share premium reserve

10,599,000

10,599,000

Other reserves

1,250,728

1,336,271

Retained earnings

1,086,029

1,073,650

Shareholders' funds

 

12,937,757

13,010,921

For the financial year ending 31 December 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 year 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Moyle And Moyle Trading Group Limited

(Registration number: 09365396)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 21 August 2024 and signed on its behalf by:



 

.........................................

Mr DH Moyle

Director

 

Moyle And Moyle Trading Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP

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.

Going concern

The company relies on the support of the directors to provide day to day working capital. As the directors do not intend to withdraw this support, they considers it appropriate to prepare the accounts on the basis that the company is a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of investments properties 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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Moyle And Moyle Trading Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Motor vehicles

25% Reducing Balance

Investment property

Investment properties are carried at fair value. Gains are recognised in profit or loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

 

Moyle And Moyle Trading Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Non-distributable reserve

The aggregate fair value adjustments relating to movements in the value of the company's investment properties are transferred at the end of each period, net of deferred tax, from the profit and loss reserve to the non-distributable reserve.

On disposal of investment property the aggregate fair value adjustment is transferred back to profit and loss reserves and the deferred tax provision is transferred to current tax liabilities.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Moyle And Moyle Trading Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

9,500

9,500

At 31 December 2023

9,500

9,500

Depreciation

At 1 January 2023

5,492

5,492

Charge for the year

1,002

1,002

At 31 December 2023

6,494

6,494

Carrying amount

At 31 December 2023

3,006

3,006

At 31 December 2022

4,008

4,008

5

Investment properties

2023
£

At 1 January

18,630,502

At 31 December

18,630,502

6

Investments

2023
£

2022
£

Investments in subsidiaries

4,000

4,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

4,000

Provision

Carrying amount

At 31 December 2023

4,000

At 31 December 2022

4,000

 

Moyle And Moyle Trading Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Intelligent Lettings Ltd

Maria House, 35 Millers Road, Brighton, BN1 5NP

England and Wales

Ordinary

100%

100%

Moyle and Moyle Capital Ltd

Maria House, 35 Millers Road, Brighton, BN1 5NP

England and Wales

Ordinary

100%

100%

J L Faynum Ltd

Maria House, 35 Millers Road, Brighton,BN15NP

England and Wales

Ordinary

100%

100%

J D Moyle Autos Ltd

Maria House, 35 Millers Road, Brighton, BN1 5NP

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

Intelligent Lettings Ltd

The principal activity of Intelligent Lettings Ltd is Letting agent.

Moyle and Moyle Capital Ltd

The principal activity of Moyle and Moyle Capital Ltd is Money lending company.

J L Faynum Ltd

The principal activity of J L Faynum Ltd is Property development.

J D Moyle Autos Ltd

The principal activity of J D Moyle Autos Ltd is Second hand motor traders.

 

Moyle And Moyle Trading Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

debtors

Note

2023
£

2022
£

Trade debtors

 

54,068

55,330

Amounts owed by group undertakings and undertakings in which the company has a participating interest

10

3,346,000

3,186,000

Other debtors

 

39,282

-

 

3,439,350

3,241,330

Current

Note

2023
£

2022
£

Trade debtors

 

54,068

55,330

Amounts owed by related parties

10

3,346,000

3,186,000

Other debtors

 

39,282

-

   

3,439,350

3,241,330

 

Moyle And Moyle Trading Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

802

67,618

Accruals and deferred income

5,322

4,848

Other creditors

2,928,912

1,321,966

2,935,036

1,394,432

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

7,545,000

7,295,000

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

7,545,000

7,295,000

10

Related party transactions

Summary of transactions with subsidiaries

Moyle and Moyle Capital Ltd, wholly owned subsidiary of Moyle and Moyle Trading Group Ltd
 

Loans to related parties

2023

Subsidiary
£

Total
£

At start of period

3,186,000

3,186,000

Advanced

160,000

160,000

At end of period

3,346,000

3,346,000

2022

Subsidiary
£

Total
£

At start of period

1,526,000

1,526,000

Advanced

1,660,000

1,660,000

At end of period

3,186,000

3,186,000

 

Moyle And Moyle Trading Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

11

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

2,000

2,000

2,000

2,000