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Registration number: 12039075

Moore Perfect Pieces Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Moore Perfect Pieces Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Moore Perfect Pieces Ltd

(Registration number: 12039075)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,615

4,149

Current assets

 

Stocks

5

20,441

11,498

Debtors

6

29

2,117

Cash at bank and in hand

 

4,384

7,069

 

24,854

20,684

Creditors: Amounts falling due within one year

7

(6,798)

(11,894)

Net current assets

 

18,056

8,790

Total assets less current liabilities

 

21,671

12,939

Provisions for liabilities

(687)

(725)

Net assets

 

20,984

12,214

Capital and reserves

 

Called up share capital

2

2

Retained earnings

20,982

12,212

Shareholders' funds

 

20,984

12,214

For the financial year ending 31 May 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

 

Moore Perfect Pieces Ltd

(Registration number: 12039075)
Balance Sheet as at 31 May 2024

.........................................
Mr P Mitchell
Director

.........................................
Mrs R Moore
Company secretary and director

 

Moore Perfect Pieces Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ
England

These financial statements were authorised for issue by the Board on 11 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

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

 

Moore Perfect Pieces Ltd

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

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.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

33% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed on an annual basis and any adjustment is made accordingly through the profit and loss account

 

Moore Perfect Pieces Ltd

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

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.

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 are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Moore Perfect Pieces Ltd

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

4

Tangible assets

Fixtures and Fittings
 £

Total
£

Cost or valuation

At 1 June 2023

10,917

10,917

Additions

894

894

Disposals

(25)

(25)

At 31 May 2024

11,786

11,786

Depreciation

At 1 June 2023

6,768

6,768

Charge for the year

1,416

1,416

Eliminated on disposal

(13)

(13)

At 31 May 2024

8,171

8,171

Carrying amount

At 31 May 2024

3,615

3,615

At 31 May 2023

4,149

4,149

5

Stocks

2024
£

2023
£

Finished goods

20,441

11,498

6

Debtors

Current

2024
£

2023
£

Prepayments

18

-

Other debtors

11

2,117

 

29

2,117

 

Moore Perfect Pieces Ltd

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

647

Taxation and social security

1,374

1,610

Accruals and deferred income

1,250

2

Other creditors

4,174

9,635

6,798

11,894

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

9

Dividends

2024

2023

£

£

Interim dividend of £2,000.00 (2023 - £Nil) per ordinary share

2,000

-

 

 

10

Related party transactions

At the balance sheet date the company owed R Moore £788 (2023: £5,250) and P Mitchell £3,385 (2023: £4,385). These loans are interest free and repayable on demand.

 

Moore Perfect Pieces Ltd

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

11

Ultimate controlling party

The ultimate controlling party is Mr P Mitchell and Mrs R Moore, by virtue of their shareholdings.