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Company registration number: 14407554
Moores Auto Engineering Limited
Unaudited filleted financial statements
31 March 2024
Moores Auto Engineering Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Moores Auto Engineering Limited
Directors and other information
Director Mr Anthony Moore (Appointed 10 October 2022)
Company number 14407554
Registered office 32-33 Gosfield Street
London
W1W 6HL
Moores Auto Engineering Limited
Statement of financial position
31 March 2024
31/03/24
Note £ £
Current assets
Stocks 375,000
Debtors 5 1
Cash at bank and in hand 2,735
_______
377,736
Creditors: amounts falling due
within one year 6 ( 2,000)
_______
Net current assets 375,736
_______
Total assets less current liabilities 375,736
Creditors: amounts falling due
after more than one year 7 ( 415,510)
_______
Net liabilities ( 39,774)
_______
Capital and reserves
Called up share capital 8 1
Profit and loss account ( 39,775)
_______
Shareholder deficit ( 39,774)
_______
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mr Anthony Moore
Director
Company registration number: 14407554
Moores Auto Engineering Limited
Notes to the financial statements
Period ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Second Floor, 32-33 Gosfield Street, London, W1W 6HL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Although the balance sheet is negative, the director has indicated his intention to support the company for the foreseeable future, a period not expected to be less than one year.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1
5. Debtors
31/03/24
£
Other debtors 1
_______
6. Creditors: amounts falling due within one year
31/03/24
£
Other creditors 2,000
_______
7. Creditors: amounts falling due after more than one year
31/03/24
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest 415,510
_______
8. Called up share capital
Issued, called up and fully paid
31/03/24
No £
Amounts presented in liabilities:
Ordinary shares shares of £ 1.00 each 1 1
_______ _______
Share movements
No £
At 10 October 2022 - -
Issue of shares 1 1
_______ _______
At 31 March 2024 - -
_______ _______
9. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value Balance owed by /(owed to)
Period Period
ended ended
31/03/24 31/03/24
£ £
Michael Moore Property Developments Ltd ( 415,510) ( 415,510)
_______ _______
The Director Mr M Moore is a Director and Shareholder in Michael Moore Property Developments Ltd