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REGISTERED NUMBER: 13416878 (England and Wales)










Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements

for the Year Ended 30 June 2023

for

The Moven Group Limited

The Moven Group Limited (Registered number: 13416878)






Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Consolidated Statement of Comprehensive Income 11

Consolidated Statement of Financial Position 13

Company Statement of Financial Position 14

Consolidated Statement of Changes in Equity 15

Company Statement of Changes in Equity 16

Consolidated Statement of Cash Flows 17

Notes to the Consolidated Statement of Cash Flows 18

Notes to the Consolidated Financial Statements 20


The Moven Group Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: S Copeland
N Copeland





REGISTERED OFFICE: 9 Ramside Park
Co. Durham
DH1 1NS





REGISTERED NUMBER: 13416878 (England and Wales)





AUDITORS: Feltons Chartered Accountants & Statutory Auditor
1, The Green
Richmond
TW9 1PL

The Moven Group Limited (Registered number: 13416878)

Group Strategic Report
for the Year Ended 30 June 2023

Introduction
The directors present their strategic report of the company and the group for the period 01 July 2022 to 30 June 2023.

Principal activities
The principal activity of the group in the period under review was that of helping support low-income households to improve the efficiency of their homes as part of a government initiative to reduce the amount of carbon dioxide in the atmosphere. This is achieved through on site energy projects internally managed.

REVIEW OF BUSINESS
The results for the group show a pre-tax profit of £1,140,623 (2022: £5,395,458) and turnover of £18,773,989 (2022: £22,421,945). Operating profit for the year is £1,101,511 (2022: £5,412,737). Administrative expenses were £4,047,156 (2022: £5,198,667). However, the group will continue to focus on cost monitoring in response to the difficult future market conditions.

The directors believe the effect of the UK leaving the EU, should have limited impact on group based on geographical diversity of it operations. However due to the current uncertainty and changes to UK businesses, the director will continue to review and adapt to the risk of potential changes as result of the UK's exit from the EU.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties facing the group are reviewed in detail by the directors and no material additional risk or uncertainty has been identified other than those detailed below. These risks are broadly accompanied with competitive, operational and financial risks. The directors risk management objectives consist of identifying and monitoring those risks which could have an adverse impact on the company assets, profitability or cash flows.

The group is exposed to financial risks including credit risk, liquidity risk, and market risk, arising from the group's normal business activities. These risks and the group's approach to dealing with them are discussed below.

Competitive risk
The group operates within the ECO industry where we strive to deliver funded home energy upgrades for eligible customers nationwide. The markets remain competitive with price and margin fluctuation, which are dependent on relationships with key suppliers. Additionally, the uncertain surrounding the economy due to the direct result of the United Kingdom's exit remain prominent factors factoring affecting the sector.

Operational risk
The main operational risk relating to the company's operations are through relationships with the customers and quality of products to client specifications. The company's ability to provide products to its customers depends on maintaining relationship. The overall risk is mitigated by ensuring that the orders are delivered to client's specification and quality products to the company to enable operations to grow.

The Moven Group Limited (Registered number: 13416878)

Group Strategic Report
for the Year Ended 30 June 2023


Price risk
The group's exposure to price risk is based on its target to introduce energy efficient measures to British homes. The fluctuation has impact on the company margins and profitability. There is also some exposure product price risk based on its operations. The directors manage exposure based on working with its supplier in and controlling purchasing volumes and providing high level of service to customers. The group directors ensure they review and manage their policies to controls the level of risk through diversification of products' they provide.

Foreign exchange risks
As a matter of policy, the group choose not to currently use financial derivatives or currency hedging to manage its exposure and the directors review exposures to risk and review currency fluctuations on an ongoing basis to ensure any adverse effect limited.

Credit risk
The group's principal financial assets are bank balances, trade and other receivables. The group's credit risk is primarily attributable to its trade receivables and balances from the related parties. The group gives significant attention to credit risk and manages the risk though credit control procedures to ensure that credit risk is at an acceptable level for its future operations.

Liquidity Risk
Liquidity risk is the risk that insufficient working capital will be generated by the group's business activities and that in this event suitable sources of funding may not be available. The group ensures that sufficient cash is available to fund on- going operations and has sufficient cash reserves for its operations. The group controls this risk by maintaining appropriate inventory levels by operating a policy of buying inventory against confirmed customer orders and also exercises effective credit management.

KEY PERFORMANCE INDICATORS
The directors of the group use a variety of financial performance indicators, including turnover, total operating profit, profit after tax, shareholders fund and average employees. These are reviewed and assessed quarterly by the board and appropriate action taken to ensure growth targets are being achieved.

The group's key financial and non-performance indicator for the year are as follows:

£
Turnover 18,773,989 (2022: £22,421,945)
Operating Profit 1,101,511 (2022: £5,412,737)
Profit after tax 915,594 (2022: £4,387,027)
Shareholders' Funds 11,082,550 (2022: £11,388,786)
Average employees 37 (2022: 37)


The Moven Group Limited (Registered number: 13416878)

Group Strategic Report
for the Year Ended 30 June 2023

FINANCIAL INSTRUMENTS
The group has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are conducted in sterling and foreign currency for which company minimise exposure to exchange rate volatility through its internal management processes.The group does not enter into any formally designated hedging arrangements.

ON BEHALF OF THE BOARD:





S Copeland - Director


2 September 2024

The Moven Group Limited (Registered number: 13416878)

Report of the Directors
for the Year Ended 30 June 2023

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of helping support low-income households to improve the efficiency of their homes as part of a government initiative to reduce the amount of carbon dioxide in the atmosphere. This is achieved through on site energy projects internally managed.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2023 will be £ 1,143,100 .

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

S Copeland
N Copeland

GOING CONCERN
The directors have, at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The directors have made this assessment for a period of at least one year from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

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 (United Kingdom Accounting Standards and applicable law). 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 group and of the profit or loss of the group 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;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Moven Group Limited (Registered number: 13416878)

Report of the Directors
for the Year Ended 30 June 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Feltons Chartered Accountants & Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S Copeland - Director


2 September 2024

Report of the Independent Auditors to the Members of
The Moven Group Limited

Opinion
We have audited the financial statements of The Moven Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2023 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
The Moven Group Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
The Moven Group Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures inline with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

. We assessed the risk of material misstatement of the financial statements, including the risk of material
misstatement due to fraud and how it might occur, by holding discussions with management and those
charged with governance.

. We obtained an understanding of laws and regulations that could reasonably be expected to have a
material effect on the financial statements through discussion with management and those charged with
governance, including financial reporting and taxation legislation. We considered that extent of compliance
with those laws and regulations as part of our procedures on the related financial statement items.

. We inquired of management and those charged with governance as to any known instances of noncompliance
or suspected non-compliance with laws and regulations. We remained alert to any indications
of non-compliance throughout the audit.


. We addressed the risk of fraud through management override by reviewing the appropriateness of a
sample of journal entries and other adjustments; assessing whether the judgements made in making key
accounting estimates are indicative of a potential bias; and evaluating the business rationale of any
significant transactions that are unusual or outside the normal course of business that we come across
throughout the audit.

However, the primary responsibility for the prevention and detection of fraud rests with both management and those
charged with governance of the company. Our examination should not be relied upon to disclose all such material
misstatements or frauds, errors or instances of non-compliance as may exist.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases
the more that compliance with a law or regulation is removed from the events and transactions reflected in
the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also
greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.



A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
The Moven Group Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Rhodes (Senior Statutory Auditor)
for and on behalf of Feltons Chartered Accountants & Statutory Auditor
1, The Green
Richmond
TW9 1PL

3 September 2024

The Moven Group Limited (Registered number: 13416878)

Consolidated
Statement of Comprehensive
Income
for the Year Ended 30 June 2023

Period
24.5.21
Year ended to
30.6.23 30.6.22
Notes £    £   

TURNOVER 18,773,989 22,421,945

Cost of sales (13,625,322 ) (11,810,541 )
GROSS PROFIT 5,148,667 10,611,404

Administrative expenses (4,047,156 ) (5,198,667 )
OPERATING PROFIT 4 1,101,511 5,412,737

Interest receivable and similar income 65,925 5
1,167,436 5,412,742

Interest payable and similar expenses 6 (26,813 ) (17,284 )
PROFIT BEFORE TAXATION 1,140,623 5,395,458

Tax on profit 7 (225,029 ) (1,008,431 )
PROFIT FOR THE FINANCIAL YEAR 915,594 4,387,027

OTHER COMPREHENSIVE INCOME
Reserves movements - 696,106
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

696,106
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

915,594

5,083,133

Profit attributable to:
Owners of the parent 836,864 4,330,513
Non-controlling interests 78,730 56,514
915,594 4,387,027

Total comprehensive income attributable to:
Owners of the parent 836,864 5,026,619
Non-controlling interests 78,730 56,514

The Moven Group Limited (Registered number: 13416878)

Consolidated
Statement of Comprehensive
Income
for the Year Ended 30 June 2023

Period
24.5.21
Year ended to
30.6.23 30.6.22
£    £   
915,594 5,083,133

The Moven Group Limited (Registered number: 13416878)

Consolidated Statement of Financial Position
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 10 127,168 22,500
Tangible assets 11 983,041 726,417
Investments 12 - -
1,110,209 748,917

CURRENT ASSETS
Debtors 13 1,032,878 489,391
Cash at bank 13,282,496 14,115,430
14,315,374 14,604,821
CREDITORS
Amounts falling due within one year 14 (4,506,287 ) (3,897,825 )
NET CURRENT ASSETS 9,809,087 10,706,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,919,296

11,455,913

CREDITORS
Amounts falling due after more than one year 15 - (10,613 )
NET ASSETS 10,919,296 11,445,300

CAPITAL AND RESERVES
Called up share capital 17 10 10
Capital reserves 18 6,937,157 6,937,157
Retained earnings 18 4,145,383 4,451,619
SHAREHOLDERS' FUNDS 11,082,550 11,388,786

NON-CONTROLLING INTERESTS 19 (163,254 ) 56,514
TOTAL EQUITY 10,919,296 11,445,300

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





S Copeland - Director


The Moven Group Limited (Registered number: 13416878)

Company Statement of Financial Position
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 10 10
10 10

CURRENT ASSETS
Debtors 13 10 10
Cash at bank 10,065,906 -
10,065,916 10
CREDITORS
Amounts falling due within one year 14 (303,547 ) (10 )
NET CURRENT ASSETS 9,762,369 -
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,762,379

10

CAPITAL AND RESERVES
Called up share capital 17 10 10
Retained earnings 18 9,762,369 -
SHAREHOLDERS' FUNDS 9,762,379 10

Company's profit for the financial year 10,052,969 575,000

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





S Copeland - Director


The Moven Group Limited (Registered number: 13416878)

Consolidated Statement of Changes in Equity
for the Year Ended 30 June 2023

Called up
share Retained Capital
capital earnings reserves
£    £    £   

Changes in equity
Issue of share capital 10 - -
Dividends - (575,000 ) -
Total comprehensive income - 5,026,619 6,937,157
Balance at 30 June 2022 10 4,451,619 6,937,157

Changes in equity
Dividends - (1,143,100 ) -
Total comprehensive income - 836,864 -
Balance at 30 June 2023 10 4,145,383 6,937,157
Non-controlling Total
Total interests equity
£    £    £   

Changes in equity
Issue of share capital 10 - 10
Dividends (575,000 ) - (575,000 )
Total comprehensive income 11,963,776 56,514 12,020,290
Balance at 30 June 2022 11,388,786 56,514 11,445,300

Changes in equity
Dividends (1,143,100 ) (298,498 ) (1,441,598 )
Total comprehensive income 836,864 78,730 915,594
Balance at 30 June 2023 11,082,550 (163,254 ) 10,919,296

The Moven Group Limited (Registered number: 13416878)

Company Statement of Changes in Equity
for the Year Ended 30 June 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 10 - 10
Dividends - (575,000 ) (575,000 )
Total comprehensive income - 575,000 575,000
Balance at 30 June 2022 10 - 10

Changes in equity
Dividends - (290,600 ) (290,600 )
Total comprehensive income - 10,052,969 10,052,969
Balance at 30 June 2023 10 9,762,369 9,762,379

The Moven Group Limited (Registered number: 13416878)

Consolidated Statement of Cash Flows
for the Year Ended 30 June 2023

Period
24.5.21
Year ended to
30.6.23 30.6.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,150,598 15,616,050
Interest paid - (15,903 )
Interest element of hire purchase payments
paid

(2,221

)

(1,381

)
Finance costs paid (24,592 ) -
Tax paid (1,422,974 ) -
Net cash from operating activities 700,811 15,598,766

Cash flows from investing activities
Purchase of intangible fixed assets (122,300 ) (30,000 )
Purchase of tangible fixed assets (459,651 ) (412,833 )
Assets on acquisition of subsidiary - (495,262 )
Interest received 65,925 5
Net cash from investing activities (516,026 ) (938,090 )

Cash flows from financing activities
Loans on acquisition of subsidiary - 26,923
Capital repayments in year (19,004 ) -
Amount introduced by directors 768,647 -
Amount withdrawn by directors (624,262 ) 2,821
Share issue - 10
Equity dividends paid (1,143,100 ) (575,000 )
Net cash from financing activities (1,017,719 ) (545,246 )

(Decrease)/increase in cash and cash equivalents (832,934 ) 14,115,430
Cash and cash equivalents at beginning of
year

2

14,115,430

-

Cash and cash equivalents at end of year 2 13,282,496 14,115,430

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 30 June 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
Period
24.5.21
Year ended to
30.6.23 30.6.22
£    £   
Profit before taxation 1,140,623 5,395,458
Depreciation charges 220,660 134,665
Profit acquired from subsidiary - 9,962,878
Dividend paid to non-controlling (298,498 ) (618,410 )
Interest expense 24,478 -
Finance costs 26,813 17,284
Finance income (65,925 ) (5 )
1,048,151 14,891,870
Increase in trade and other debtors (543,489 ) (489,391 )
Increase in trade and other creditors 1,645,936 1,213,571
Cash generated from operations 2,150,598 15,616,050

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 13,282,496 14,115,430
Period ended 30 June 2022
30.6.22 24.5.21
£    £   
Cash and cash equivalents 14,115,430 -


The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 30 June 2023

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank 14,115,430 (832,934 ) 13,282,496
14,115,430 (832,934 ) 13,282,496
Debt
Finance leases (26,923 ) 19,004 (7,919 )
(26,923 ) 19,004 (7,919 )
Total 14,088,507 (813,930 ) 13,274,577

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

The Moven Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:
(a) Disclosures in respect of each class of share capital have not been presented.
(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(d) No disclosure has been given for the aggregate remuneration of key management personnel.

BASIS OF CONSOLIDATION
The consolidated financial statements present the results of the company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between the group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combination using the purchase method. In the balance sheet, the acquiree's identifiable assets and liabilities are recognised at the book value at the acquisition date. The result of the acquired operations are included in the consolidated income statement from the date control is obtained.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the installation of energy efficient devices and related construction work as specified in the strategic report is recognised when all the following conditions are satisfied:
- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the company; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation

Asset classDepreciation method and rate

Office equipment
25% on RB Method, 33% on SL Method and 10%
on SL Method
Motor vehicle25% on RB Method
Computer equipment33% on SL Method

At each balance sheet date, the company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.


The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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 recognized 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.

GOING CONCERN
The Financial Statements of the company have been prepared on a going concern basis. The Group made a profit in the year of £915,594 (2022: £4,387,027), has net current assets of £9,809,087 (2022: £10,706,996), has net assets of £10,919,296 (2022: 11,445,300) and has cash at Bank and in hand of £13,282,496 (2022: £14,115,430).

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the company's accounting policies, which are described in note 2, management is required to make judgments, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees by undertakings that were proportionately consolidated during the period was 37 (2022: 37).

Period
24.5.21
Year ended to
30.6.23 30.6.22
£    £   
Directors' remuneration 6,534 6,000

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
24.5.21
Year ended to
30.6.23 30.6.22
£    £   
Hire of plant and machinery 66,123 50,260
Other operating leases 105,966 119,085
Depreciation - owned assets 203,027 127,166
Computer software amortisation 17,632 7,500

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

5. AUDITORS' REMUNERATION

Fees payable to the auditors for the audit of the group's financial statements is £22,000.

Fees payable to the auditors for the audit of the company's financial statements is £4,000.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
24.5.21
Year ended to
30.6.23 30.6.22
£    £   
Interest on PAYE 114 -
Interest on late tax 24,478 15,903
Hire purchase 2,221 1,381
26,813 17,284

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
24.5.21
Year ended to
30.6.23 30.6.22
£    £   
Current tax:
UK corporation tax 225,029 1,008,431
Tax on profit 225,029 1,008,431

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

7. TAXATION - continued

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period
24.5.21
Year ended to
30.6.23 30.6.22
£    £   
Profit before tax 1,140,623 5,395,458
Profit multiplied by the standard rate of corporation tax in the UK of 20.614
% (2022 - 15.681 %)

235,128

846,062

Effects of:
Expenses not deductible for tax purposes 45,230 3,858
Capital allowances in excess of depreciation (55,329 ) -
Depreciation in excess of capital allowances - 158,511
Total tax charge 225,029 1,008,431

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30 June 2023.

24.5.21 to 30.6.22
Gross Tax Net
£    £    £   
Profit and loss account 696,106 - 696,106
Capital reserves 6,937,157 - 6,937,157
7,633,263 - 7,633,263

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
Period
24.5.21
Year ended to
30.6.23 30.6.22
£    £   
Final 1,143,100 575,000

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

10. INTANGIBLE FIXED ASSETS

Group
Computer
software
£   
COST
At 1 July 2022 30,000
Additions 122,300
At 30 June 2023 152,300
AMORTISATION
At 1 July 2022 7,500
Amortisation for year 17,632
At 30 June 2023 25,132
NET BOOK VALUE
At 30 June 2023 127,168
At 30 June 2022 22,500

11. TANGIBLE FIXED ASSETS

Group
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 625,726 223,190 59,179 908,095
Additions 145,437 261,324 52,890 459,651
At 30 June 2023 771,163 484,514 112,069 1,367,746
DEPRECIATION
At 1 July 2022 104,732 54,626 22,320 181,678
Charge for year 106,864 73,087 23,076 203,027
At 30 June 2023 211,596 127,713 45,396 384,705
NET BOOK VALUE
At 30 June 2023 559,567 356,801 66,673 983,041
At 30 June 2022 520,994 168,564 36,859 726,417

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

12. FIXED ASSET INVESTMENTS

2023 2022
£ £
Shares in subsidiaries 10 10


The group's investments at the Statement of Financial Position date in the share capital of companies include the following:

SFA Consult Limited
Registered office: 9 Ramside Park, Durham, England, DH1 1NS
Nature of business: Environmental consultancy

Class of shares: Holding
Ordinary share capital 100.00 %


UK Energy Management (NE) Limited
Registered office: 9 Ramside Park, Durham, England, DH1 1NS
Nature of business: Support low-income households to improve efficiency of their homes and reduce amount of carbon dioxide in the atmosphere

Class of shares: Holding
Ordinary share capital 91.00 % by SFA Consult Limited

Results of both the above entity are included in the group accounts.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 426,258 90,578 - -
Other debtors 606,620 398,813 10 10
1,032,878 489,391 10 10

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Hire purchase contracts (see note 16) 7,919 16,310 - -
Trade creditors 1,308,866 223,548 - -
Amounts owed to associates - - 145,300 -
Corporation tax 1,491,656 2,665,124 12,792 -
Social security and other tax 91,018 22,725 - -
VAT 929,918 711,816 - -
Other creditors 6,885 4,796 10 10
Directors' current accounts 147,205 2,820 145,445 -
Accruals 522,820 250,686 - -
4,506,287 3,897,825 303,547 10

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2023 2022
£    £   
Hire purchase contracts (see note 16) - 10,613

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 7,919 16,310
Between one and five years - 10,613
7,919 26,923

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary Shares 1 10 10

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

18. RESERVES

Group
Retained Capital
earnings reserves Totals
£    £    £   

At 1 July 2022 4,451,619 6,937,157 11,388,776
Profit for the year 836,864 836,864
Dividends (1,143,100 ) (1,143,100 )
At 30 June 2023 4,145,383 6,937,157 11,082,540

Company
Retained
earnings
£   

Profit for the year 10,052,969
Dividends (290,600 )
At 30 June 2023 9,762,369


19. NON-CONTROLLING INTERESTS

CS Project Services Ltd who holds 90 Ordinary B shares in UK Energy Management (NE) Limited holds the non-controlling interests.

20. OTHER FINANCIAL COMMITMENTS

The total of future minimum lease payments under non-cancellable operating leases as at 30 June 2023 are as below:
- Not later than one year: £210,073 (2022: £218,583).
- Later than one year and not later than five years: £31,868 (2022: £9,902)

21. RELATED PARTY DISCLOSURES

As at the balance sheet date the total amount due from Moven 17 Ltd, a company related by way of sharing a director, was £556,609 (2022: £243,652). This loan is interest free and repayable on demand.

As at the balance date, the total amount due to the director S Copeland was £147,130 (2022: £2,820) and to N Copeland £73 (2022: Nil).

During the year, company paid dividend of £ 1,143,100 (2022: £575,000) to the shareholders.

22. POST BALANCE SHEET EVENTS

The 9,100 ordinary shares held by SFA Consult Limited in UK Energy Management (NE) Limited were
transferred to The Moven Group Limited in April 2024.

The Moven Group Limited (Registered number: 13416878)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

23. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Steven Copeland and Nina Copeland who owns the entire share capital of The Moven Group Limited.