Mood Living Design Limited 14252995 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is online ecommerce sales Digita Accounts Production Advanced 6.30.9574.0 true true 14252995 2023-08-01 2024-07-31 14252995 2024-07-31 14252995 core:CurrentFinancialInstruments 2024-07-31 14252995 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 14252995 core:FurnitureFittingsToolsEquipment 2024-07-31 14252995 bus:SmallEntities 2023-08-01 2024-07-31 14252995 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 14252995 bus:FullAccounts 2023-08-01 2024-07-31 14252995 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 14252995 bus:RegisteredOffice 2023-08-01 2024-07-31 14252995 bus:Director1 2023-08-01 2024-07-31 14252995 bus:Director2 2023-08-01 2024-07-31 14252995 bus:Director3 2023-08-01 2024-07-31 14252995 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14252995 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 14252995 countries:UnitedKingdom 2023-08-01 2024-07-31 14252995 2023-07-31 14252995 core:FurnitureFittingsToolsEquipment 2023-07-31 14252995 2022-07-25 2023-07-31 14252995 2023-07-31 14252995 core:CurrentFinancialInstruments 2023-07-31 14252995 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 14252995 core:FurnitureFittingsToolsEquipment 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 14252995

Mood Living Design Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Mood Living Design Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Mood Living Design Limited

(Registration number: 14252995)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

256

389

Current assets

 

Stocks

6

74,286

20,000

Debtors

7

8,085

6,782

Cash at bank and in hand

 

32,085

26,979

 

114,456

53,761

Creditors: Amounts falling due within one year

8

(113,718)

(51,820)

Net current assets

 

738

1,941

Total assets less current liabilities

 

994

2,330

Provisions for liabilities

(49)

(74)

Net assets

 

945

2,256

Capital and reserves

 

Called up share capital

12

12

Retained earnings

933

2,244

Shareholders' funds

 

945

2,256

For the financial year ending 31 July 2024 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.

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

Mr R T Atkins
Director

Mr A N Baker
Director

Mr A P Donoghue
Director

     
 

Mood Living Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
1 Victoria Avenue
Harrogate
HG1 1EQ

These financial statements were authorised for issue by the Board on 10 September 2024.

2

Accounting policies

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 financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

Mood Living Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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:

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Mood Living Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

133

12

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

400

400

At 31 July 2024

400

400

Depreciation

At 1 August 2023

11

11

Charge for the year

133

133

At 31 July 2024

144

144

Carrying amount

At 31 July 2024

256

256

At 31 July 2023

389

389

6

Stocks

2024
£

2023
£

Other inventories

74,286

20,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

2,522

6,770

Other debtors

5,563

12

 

8,085

6,782

 

Mood Living Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

21,262

-

Taxation and social security

 

4,526

1,116

Accruals and deferred income

 

8,044

1,000

Other creditors

 

79,886

49,704

 

113,718

51,820

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

21,262

-