Company Registration No. 12399159 (England and Wales)
The Mvmt Room Ltd
Unaudited accounts
for the year ended 31 January 2024
The Mvmt Room Ltd
Company Information
for the year ended 31 January 2024
Directors
Caddick, Samuel John
Higham, Alex Jordan Pascal
Company Number
12399159 (England and Wales)
Registered Office
Gate 2 Marina
Lymm
WA13 0SW
England
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
The Mvmt Room Ltd
Accountants' report
Accountants' report to the board of directors of The Mvmt Room Ltd on the preparation of the unaudited statutory accounts for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
The Mvmt Room Ltd for the year ended
31 January 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of The Mvmt Room Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of The Mvmt Room Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Mvmt Room Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Mvmt Room Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Mvmt Room Ltd. You consider that The Mvmt Room Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Mvmt Room Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
1 October 2024
The Mvmt Room Ltd
Statement of financial position
as at 31 January 2024
Intangible assets
896
1,344
Tangible assets
6,495
7,795
Cash at bank and in hand
5,462
3,240
Creditors: amounts falling due within one year
(16,184)
(17,466)
Net current liabilities
(9,672)
(13,176)
Total assets less current liabilities
(2,281)
(4,037)
Creditors: amounts falling due after more than one year
(7,084)
(12,083)
Net liabilities
(9,365)
(16,120)
Called up share capital
2
2
Profit and loss account
(9,367)
(16,122)
Shareholders' funds
(9,365)
(16,120)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by
Caddick, Samuel John
Director
Company Registration No. 12399159
The Mvmt Room Ltd
Notes to the Accounts
for the year ended 31 January 2024
The Mvmt Room Ltd is a private company, limited by shares, registered in England and Wales, registration number 12399159. The registered office is Gate 2 Marina, Lymm, WA13 0SW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line Basis
Fixtures & fittings
25% Straight Line Basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation on a 20% Straight Line Basis
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The company is starting to take on new paying members with new marketing strategies and any loss is happily to be funded by the directors of the company as they continue to grow the business.
Short term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Mvmt Room Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company’s tangible and intangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty
Tangible fixed assets (see note 4)
Tangible fixed assets, other than investment properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Intangible fixed assets
Other
The Mvmt Room Ltd
Notes to the Accounts
for the year ended 31 January 2024
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2023
11,779
4,904
16,683
At 31 January 2024
13,784
5,354
19,138
At 1 February 2023
6,417
2,471
8,888
Charge for the year
3,001
754
3,755
At 31 January 2024
9,418
3,225
12,643
At 31 January 2024
4,366
2,129
6,495
At 31 January 2023
5,362
2,433
7,795
Amounts falling due within one year
Accrued income and prepayments
1,050
1,050
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,000
5,000
Taxes and social security
80
-
Loans from directors
11,104
12,466
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).