IRIS Accounts Production v24.2.0.383 12139967 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh121399672022-12-31121399672023-12-31121399672023-01-012023-12-31121399672021-12-31121399672022-01-012022-12-31121399672022-12-3112139967ns15:EnglandWales2023-01-012023-12-3112139967ns14:PoundSterling2023-01-012023-12-3112139967ns10:Director12023-01-012023-12-3112139967ns10:Director22023-01-012023-12-3112139967ns10:CompanyLimitedByGuarantee2023-01-012023-12-3112139967ns10:SmallEntities2023-01-012023-12-3112139967ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3112139967ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3112139967ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3112139967ns10:FullAccounts2023-01-012023-12-311213996712023-01-012023-12-3112139967ns10:EntityHasNeverTraded2023-01-012023-12-3112139967ns10:Director32023-01-012023-12-3112139967ns10:Director42023-01-012023-12-3112139967ns10:Director52023-01-012023-12-3112139967ns10:Director72023-01-012023-12-3112139967ns10:Director82023-01-012023-12-3112139967ns10:Director102023-01-012023-12-3112139967ns10:Director112023-01-012023-12-3112139967ns10:Director122023-01-012023-12-3112139967ns10:Director132023-01-012023-12-3112139967ns10:Director142023-01-012023-12-3112139967ns10:Director152023-01-012023-12-3112139967ns10:CompanySecretary12023-01-012023-12-3112139967ns10:RegisteredOffice2023-01-012023-12-3112139967ns5:CurrentFinancialInstruments2023-12-3112139967ns5:CurrentFinancialInstruments2022-12-3112139967ns5:Non-currentFinancialInstruments2023-12-3112139967ns5:Non-currentFinancialInstruments2022-12-3112139967ns5:RetainedEarningsAccumulatedLosses2023-12-3112139967ns5:RetainedEarningsAccumulatedLosses2022-12-311213996712023-01-012023-12-3112139967ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112139967ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3112139967ns5:ComputerSoftware2022-12-3112139967ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3112139967ns5:ComputerSoftware2023-01-012023-12-3112139967ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3112139967ns5:ComputerSoftware2023-12-3112139967ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3112139967ns5:ComputerSoftware2022-12-3112139967ns5:CostValuation2022-12-3112139967ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3112139967ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3112139967ns5:CurrentFinancialInstruments2023-01-012023-12-3112139967ns5:Non-currentFinancialInstruments2023-01-012023-12-31
REGISTERED NUMBER: 12139967 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MOORE GLOBAL NETWORK LIMITED

MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOORE GLOBAL NETWORK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M J Armanino
M C H Aw
A G Badey
C Liang
C Reid
D J Tomasi
A Armanino
A Colella
Mrs V Muir
M Bick
R Goles Da Silva Filho
P Craninx
B Zacari





SECRETARY: Cornhill Secretaries Limited





REGISTERED OFFICE: 5 Market Yard Mews
194-204 Bermondsey Street
London
SE1 3TQ





REGISTERED NUMBER: 12139967 (England and Wales)





ACCOUNTANTS: AKS Advisers
Fourth & Fifth Floors
14-15 Lower Grosvenor Place
London
SW1W 0EX

MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 473,143 629,580
Investments 5 407 407
473,550 629,987

CURRENT ASSETS
Debtors 6 3,209,138 3,320,745
Cash at bank 7 1,962,379 1,353,349
5,171,517 4,674,094
CREDITORS
Amounts falling due within one year 8 4,340,907 4,241,554
NET CURRENT ASSETS 830,610 432,540
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,304,160

1,062,527

CREDITORS
Amounts falling due after more than one
year

9

136,044

136,044
NET ASSETS 1,168,116 926,483

RESERVES
Income and expenditure account 1,168,116 926,483
1,168,116 926,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:




A Colella - Director



A Armanino - Director


MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

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

These financial statements are presented in Pounds Sterling (GBP), as that is the currency in which the majority of the Company's transactions are denominated. They comprise the financial statements of the Company for the year from 01 January 2023 to 31 December 2023.

The Company has determined that GBP is its functional currency, as this is the currency of the economic environment in which the Company predominantly operates.

The principal activity of the Company is co-ordinating and helping the professional practices of member firms worldwide using the name "Moore" in providing audit, advisory, managerial and consultancy services to companies, individuals and firms.

1.1 GOING CONCERN
The company has reported a surplus for the year of £241,633 (2022: £157,982) and has net reserves amounting to £1,168,116 (2022: £926,483). In addition, the company also has reasonable cash balances at the balance sheet date.

At the time of approving the financial statements, the directors are confident in the resilience of the business and its financial security, supported by a robust cash position, and believe that the company is well placed to manage its business risks successfully and 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.

2. ACCOUNTING POLICIES

2.1 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2.1.2).

The following principal accounting policies have been applied:

2.1.1 Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

2.1.2 Critical accounting judgements & key source of estimation uncertainty
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities.

Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Due to the simplicity of the Company's transaction streams and year-end financial position, the directors consider there to be no critical judgements, estimates or assumptions in the preparation of these financial statements.

2.2 Turnover
Turnover represents subscription and other fees receivable from the network and its member firms, net of value-added tax, rebates and discounts.

2.3 Valuation of investments
Investments in subsidiaries are measured on a fair value basis.

Intangible fixed assets
The company owns private property rights on two seats at a performance venue in London, which was originally granted with a 999 year lease. The box was purchased in 1985 and has not been recognised as an asset of the company historically.

The directors have recognised the asset at an original cost of £4,000. The cost of the asset is amortised over the period of the private property rights.

In 2022, the company capitalised an internally generated software platform which will be used by the company and its members.

Initial recognition - Costs associated with internally generated intangible fixed assets are capitalised where it is probable that expected future economic benefits that are attributable to the asset will flow to the entity and the cost of the asset can be measured reliably FRS 102 Section 18 paragraph 18.4.

Subsequent recognition - As there is no active market for the asset it is not permitted to carry it at fair value (FRS 18.18B) thus the asset is carried at cost less amortisation and impairment.

Amortisation - The software platform is amortised over its useful economic life, in accordance with FRS 18.23a its residual value has assumed to be zero.

The directors reassess the asset's useful economic life annually, and where necessary amend the amortisation charge by spreading the net book value as at the time of the reassessment evenly over the remaining useful economic life.

The current economic life is deemed to be 5 years.

MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

2.4 Financial instruments
Financial instruments are recognised in the Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument. Financial instruments are initially measured at transaction price unless the arrangement constitutes a financing transaction which includes transaction costs for financial instruments not subsequently measured at fair value.

Subsequent to initial recognition, they are measured as set out below. A financing transaction is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Classification
Financial instruments are classified as either ‘basic’ or ‘other’ in accordance with Chapter 11 of FRS 102.

Subsequent measurement
Loans and receivables are measured at amortised cost, using the effective interest method. Trade debtors and trade payables are recognised at the undiscounted amount owed by the customer or to the supplier, which is normally the invoice amount.

2.5 Taxation
Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 in the countries where the company operates and generates income.

Factors affecting tax charge for the year
There was no UK corporation tax charge on the surplus for the year or the prior year.

Factors that may affect future tax charges
The company is considered for tax purposes as a "mutual trader" such that it is not subject to corporation tax on the basis that its costs are met by its members each year. Accordingly, no taxation (other than on interest income) or deferred taxation is accounted for.

2.6 Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange gains and losses are recognised in profit and loss account.

MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

2.7 Pensions
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due.

Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.8 Debtors
Short term debtors are measured at transaction price, less any impairment.


2.9 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.

2.10 Creditors
Short term creditors are measured at the transaction price.

2.11Revenue recognition
The Company recognises revenues from subscriptions and other fees receivable when earned and collection is reasonably assured. Deferred revenues are recorded for subscriptions received that have not yet been earned. Upfront fees are recognised over the estimated period that the related services are performed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Private
Property Computer
Rights software Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 4,000 782,164 786,164
AMORTISATION
At 1 January 2023 152 156,432 156,584
Amortisation for year 4 156,433 156,437
At 31 December 2023 156 312,865 313,021
NET BOOK VALUE
At 31 December 2023 3,844 469,299 473,143
At 31 December 2022 3,848 625,732 629,580

MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS - continued

The company owns private property rights on two seats at a performance venue in London, which was originally granted with a 999 year lease. The box was purchased in 1985 and has not been recognised as an asset of the company historically.

The directors have recognised the asset at an original cost of £4,000. The cost of the asset is amortised over the period of the private property rights.

In 2022, the company has capitalised an internal generate software platform which will be used by the company and its members.

Initial recognition - Costs associated with internally generated intangible fixed assets are capitalised where it is probable that expected future economic benefits that are attributable to the asset will flow to the entity and the cost of the asset can be measured reliably FRS 102 Section 18 paragraph 18.4.

Subsequent recognition - As there is no active market for the asset it is not permitted to carry it at fair value (FRS 18.18B) thus the asset is carried at cost less amortisation and impairment.

Amortisation - The software platform is amortised over its useful economic life, in accordance with FRS 18.23a its residual value has assumed to be zero.

The directors reassess the asset's useful economic life annually, and where necessary amend the amortisation charge by spreading the net book value as at the time of the reassessment evenly over the remaining useful economic life.

The current economic life is deemed to be 5 years.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 407
NET BOOK VALUE
At 31 December 2023 407
At 31 December 2022 407

Following investments held at the year end:-


Name of Company
Price per
share £

Total £
Moore Stephen Int. Lic. Ltd. 1 100
Moore Stephens Europe Ltd. 5 270
Moore Stephens International Ltd. 5 35
Moore Stephens Ltd. 1 1
Moore Quality Management Solutions Ltd. 1 1
407

MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 2,631,711 2,821,801
Amounts owed by group undertakings 1,859 159,494
Other debtors 575,568 339,450
3,209,138 3,320,745

Included in Group undertakings are amounts owed by Moore Stephens International Limited (£363) and Moore Stephens Latin America Limited (£1,496).

7. CASH AT BANK

31.12.2023 31.12.2022
£ £

Cash at bank and in hand 1,962,379 1,353,349

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 305,635 217,791
Amounts owed to group undertakings 90,445 92,516
Taxation and social security 79,782 178,678
Other creditors 3,865,045 3,752,569
4,340,907 4,241,554

Included in Group undertakings are amounts owed to Moore Stephens Europe Limited (£90,445).

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 136,044 136,044

Included in Group undertakings are amounts owed to Moore Stephens International Limited (£136,044).

10. FINANCIAL INSTRUMENTS

31.12.2023 31.12.2022
Financial assets £ £

Financial assets measured at fair value through profit or loss 1,962,379 1,353,349


Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

MOORE GLOBAL NETWORK LIMITED (REGISTERED NUMBER: 12139967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. RELATED PARTY DISCLOSURES

The Company derives all its income and certain of its expenditure from member and correspondent firms.

12. ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling parties of the company.