Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr R David 10/06/2021 Mr A Maskalchi 10/06/2021 27 September 2024 The principal activity of the company continued to be that of sales of mobility aids. 13450441 2023-12-31 13450441 bus:Director1 2023-12-31 13450441 bus:Director2 2023-12-31 13450441 2022-12-31 13450441 core:CurrentFinancialInstruments 2023-12-31 13450441 core:CurrentFinancialInstruments 2022-12-31 13450441 core:Non-currentFinancialInstruments 2023-12-31 13450441 core:Non-currentFinancialInstruments 2022-12-31 13450441 core:ShareCapital 2023-12-31 13450441 core:ShareCapital 2022-12-31 13450441 core:RetainedEarningsAccumulatedLosses 2023-12-31 13450441 core:RetainedEarningsAccumulatedLosses 2022-12-31 13450441 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-12-31 13450441 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2022-12-31 13450441 core:CurrentFinancialInstruments 1 2023-12-31 13450441 core:CurrentFinancialInstruments 1 2022-12-31 13450441 2022-06-30 13450441 2023-01-01 2023-12-31 13450441 bus:FilletedAccounts 2023-01-01 2023-12-31 13450441 bus:SmallEntities 2023-01-01 2023-12-31 13450441 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13450441 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13450441 bus:Director1 2023-01-01 2023-12-31 13450441 bus:Director2 2023-01-01 2023-12-31 13450441 2022-07-01 2022-12-31 13450441 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 13450441 (England and Wales)

MOVINGLIFE UK LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

MOVINGLIFE UK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

MOVINGLIFE UK LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
MOVINGLIFE UK LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DIRECTORS Mr R David
Mr A Maskalchi
REGISTERED OFFICE Unit 223 Westwood Hub
Westwood Business Park
Strasbourg Str. Margate
CT9 4JJ
England
United Kingdom
COMPANY NUMBER 13450441 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
MOVINGLIFE UK LTD

BALANCE SHEET

AS AT 31 DECEMBER 2023
MOVINGLIFE UK LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 31.12.2023 31.12.2022
£ £
Current assets
Stocks 4 365,214 419,178
Debtors
- due within one year 5 159,474 267,573
- due after more than one year 5 10,659 0
Cash at bank and in hand 6 43,975 40,207
579,322 726,958
Creditors: amounts falling due within one year 7 ( 585,217) ( 700,875)
Net current (liabilities)/assets (5,895) 26,083
Total assets less current liabilities (5,895) 26,083
Net (liabilities)/assets ( 5,895) 26,083
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 5,995 ) 25,983
Total shareholder's (deficit)/funds ( 5,895) 26,083

For the financial 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.

Directors' responsibilities:

The financial statements of MovingLife UK Ltd (registered number: 13450441) were approved and authorised for issue by the Board of Directors on 27 September 2024. They were signed on its behalf by:

Mr R David
Director
MOVINGLIFE UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
MOVINGLIFE UK LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

MovingLife UK Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 223 Westwood Hub, Westwood Business Park, Strasbourg Str. Margate, CT9 4JJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. The company continues to be supported by its parent company Moving Life Israel Limited.

Reporting period length

The previous financial statements are presented for a period shorter than one year. As such, comparative amounts presented in previous and future financial statements (including the related notes) are not entirely comparable

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

Year ended
31.12.2023
Period from
01.07.2022 to
31.12.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Stocks

31.12.2023 31.12.2022
£ £
Stocks 365,214 419,178

5. Debtors

31.12.2023 31.12.2022
£ £
Debtors: amounts falling due within one year
Trade debtors 156,148 267,296
Amounts owed by connected companies 0 177
Amounts owed by directors 100 100
Other debtors 3,226 0
159,474 267,573
Debtors: amounts falling due after more than one year
Deferred tax asset 10,659 0

6. Cash and cash equivalents

31.12.2023 31.12.2022
£ £
Cash at bank and in hand 43,975 40,207

7. Creditors: amounts falling due within one year

31.12.2023 31.12.2022
£ £
Trade creditors 75,550 61,431
Amounts owed to Group undertakings 484,015 615,148
Amounts owed to connected companies 13,410 4,213
Accruals 7,626 3,000
Taxation and social security 4,616 17,083
585,217 700,875

8. Deferred tax

31.12.2023 31.12.2022
£ £
At the beginning of financial year/period 0 0
Credited to the Profit and Loss Account 10,659 0
At the end of financial year/period 10,659 0

9. Related party transactions

At 31 December 2023 included within creditors there is an amount of £484,015 (£615,148 at 30 December 2022) owed to Moving Life Ltd, the parent company. This amount is interest free and repayable on demand.

10. Ultimate controlling party

The company is a wholly owned subsidiary of Moving Life Ltd , the registered office is Kibbutz Netzer Sereni, Netzer Serini, 7039500, ISRAEL