Registered number
02487994
Moremeet Ltd T/A Wales and West All Jumping Show
Unaudited Filleted Accounts
31 December 2023
Moremeet Ltd T/A Wales and West All Jumping Show
Registered number: 02487994
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,242 12,325
11,242 12,325
Current assets
Debtors 4 15,237 40
Cash at bank and in hand 114,618 178,800
129,855 178,840
Creditors: amounts falling due within one year 5 (10,063) (33,052)
Net current assets 119,792 145,788
Total assets less current liabilities 131,034 158,113
Net assets 131,034 158,113
Capital and reserves
Called up share capital 100 100
Profit and loss account 130,934 158,013
Shareholders' funds 131,034 158,113
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D. Broome Esq
Director
Approved by the board on 27.08.2024
Moremeet Ltd T/A Wales and West All Jumping Show
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements over 20 years
Plant and machinery 10% pa on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
Clearance was received from HM Revenue and Customs on 6th September 2011 stating that, due to the non-profit making status of the company, corporation tax does not apply on it's ordinary activities and will only apply if the amount of any interest received exceeds £100.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 28 25
3 Tangible fixed assets
Improvements Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 10,000 60,464 70,464
At 31 December 2023 10,000 60,464 70,464
Depreciation
At 1 January 2023 3,500 54,639 58,139
Charge for the year 500 583 1,083
At 31 December 2023 4,000 55,222 59,222
Net book value
At 31 December 2023 6,000 5,242 11,242
At 31 December 2022 6,500 5,825 12,325
4 Debtors 2023 2022
£ £
Other debtors 15,237 40
15,237 40
Amounts due after more than one year included above - -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 7,003 10,112
Other creditors 3,060 22,940
10,063 33,052
6 Related party transactions
During the year £150,000 (2022 - £150,000) was paid to a company controlled by D M Broome in respect of rent of the facilities, £1,002 in respect of postage (2022 - nil) and £249,196 in respect of show expenses (2022 - £198,847.)
During the year £28,942 was charged to a company controlled by relatives of the Director in respect of wages (2022 - nil) and £5,079 in respect pf show expenses (2022 - nil). At the year end £15,237 was owed from this company in repsect of wages (see note 4) (2022 - nil).
7 Controlling party
The company is controlled by D M Broome Esq.
8 Other information
Moremeet Ltd T/A Wales and West All Jumping Show is a private company limited by shares and incorporated in England. Its registered office is:
Mount Ballan Manor
Crick
Gwent
NP26 5XP
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