0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 841,794 841,794 841,794 xbrli:pure xbrli:shares iso4217:GBP 04095875 2023-01-01 2023-12-31 04095875 2023-12-31 04095875 2022-12-31 04095875 2022-01-01 2022-12-31 04095875 2022-12-31 04095875 2021-12-31 04095875 bus:Director1 2023-01-01 2023-12-31 04095875 core:WithinOneYear 2023-12-31 04095875 core:WithinOneYear 2022-12-31 04095875 core:ShareCapital 2023-12-31 04095875 core:ShareCapital 2022-12-31 04095875 core:RetainedEarningsAccumulatedLosses 2023-12-31 04095875 core:RetainedEarningsAccumulatedLosses 2022-12-31 04095875 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 04095875 core:Non-currentFinancialInstruments 2023-12-31 04095875 core:Non-currentFinancialInstruments 2022-12-31 04095875 bus:SmallEntities 2023-01-01 2023-12-31 04095875 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04095875 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04095875 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04095875 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 04095875
Moorings No. 1 Ltd
Filleted Unaudited Financial Statements
31 December 2023
Moorings No. 1 Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
841,794
841,794
Current assets
Debtors
5
49,681
26,120
Cash at bank and in hand
365,561
369,289
---------
---------
415,242
395,409
Creditors: amounts falling due within one year
6
5,002
3,263
---------
---------
Net current assets
410,240
392,146
------------
------------
Total assets less current liabilities
1,252,034
1,233,940
------------
------------
Net assets
1,252,034
1,233,940
------------
------------
Capital and reserves
Called up share capital
809,256
809,256
Profit and loss account
442,778
424,684
------------
------------
Shareholder funds
1,252,034
1,233,940
------------
------------
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 income and retained earnings has not been delivered.
For the year ending 31 December 2023 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 year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Moorings No. 1 Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
Mr E Wittouck
Director
Company registration number: 04095875
Moorings No. 1 Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5th Floor,, Halo, Counterslip, Bristol, BS1 6AJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Investments
Other investments other than loans
£
Cost
At 1 January 2023 and 31 December 2023
841,794
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
841,794
---------
At 31 December 2022
841,794
---------
The investment brought forward consisted of 9,062 shares a minority holding in Societe du Port de Plaisance de Cap d'Ail SA, a company registered in France with a book cost of €1,160,169. This has been revalued at the year end exchange rate in the year of investment.
5. Debtors
2023
2022
£
£
Other debtors
49,681
26,120
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,099
150
Other creditors
2,903
3,113
-------
-------
5,002
3,263
-------
-------
7. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRSSE.
8. Controlling party
The company was owned throughout the current year by Mr E Wittouck ,1 BIS,rue des Giroflees, Monaco, Monaco 98000.