REGISTERED NUMBER: 07112002 (England and Wales) |
UNAUDITED |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
FOR |
MOORSIDE OFFICE LIMITED |
REGISTERED NUMBER: 07112002 (England and Wales) |
UNAUDITED |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
FOR |
MOORSIDE OFFICE LIMITED |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
Page |
Company Information | 1 |
Consolidated Balance Sheet | 2 |
|
Company Balance Sheet | 3 | ||
Notes to the Consolidated Financial Statements | 4 |
Chartered Accountants Report | 13 |
MOORSIDE OFFICE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Chilworth Point |
1 Chilworth Road |
Southampton |
SO16 7JQ |
BANKERS: | Coutts & Co |
440 Strand |
London |
WC2R 0QS |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
CONSOLIDATED BALANCE SHEET |
30 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 | 302 | 604 |
Tangible assets | 5 | 225,464 | 221,564 |
Investments | 6 | 500 | 500 |
226,266 | 222,668 |
CURRENT ASSETS |
Debtors | 7 | 927,122 | 850,967 |
Cash at bank | 578,301 | 493,875 |
1,505,423 | 1,344,842 |
CREDITORS |
Amounts falling due within one year | 8 | 1,056,559 | 832,948 |
NET CURRENT ASSETS | 448,864 | 511,894 |
TOTAL ASSETS LESS CURRENT LIABILITIES | 675,130 | 734,562 |
CREDITORS |
Amounts falling due after more than one year | 9 | 98,679 | 170,349 |
NET ASSETS | 576,451 | 564,213 |
CAPITAL AND RESERVES |
Called up share capital | 17,775 | 17,775 |
Capital redemption reserve | 11 | 5,725 | 5,725 |
Retained earnings | 11 | 503,000 | 492,596 |
SHAREHOLDERS' FUNDS | 526,500 | 516,096 |
NON-CONTROLLING INTERESTS | 49,951 | 48,117 |
TOTAL EQUITY | 576,451 | 564,213 |
The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2023. |
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The director acknowledges his responsibilities for: |
(a) | ensuring that the group 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 and the group as at the end of each financial year and of the group's profit or loss 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 and the group. |
The financial statements have been prepared 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 Consolidated Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on 1 October 2024 and were signed by: |
Mr C P Burlton - Director |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
COMPANY BALANCE SHEET |
30 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve | 11 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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 profit or loss 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Moorside Office Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The company has claimed exemption from the cash flow statements on the basis of it being a small company. |
BASIS OF CONSOLIDATION |
The consolidated financial statements include the accounts of the individual parent entity, Moorside Office Limited, as well as the trading subsidiary Caboodle Office Supplies Limited, of which Moorside Office Limited owns 82%. |
A number of other subsidiaries detailed in the notes to the accounts have not been included in the consolidation as their combined value is not material. |
All significant intercompany account balances and transactions have been eliminated. |
Business combinations are accounted for using the purchase method of accounting under FRS 102, Section 19 Business Combinations. In the balance sheet, the acquiree’s identifiable assets, liabilities and contingent liabilities are initially recognised at fair value at the date of acquisition (which is the date on which control is passed to the parent). The results of the acquired operations are included in the consolidated profit and loss account from the date of acquisition. Consolidation ceases from the date on which control ceases. |
The company qualifies for Section 399(2A). exemption from consolidation, however the company has chosen not to claim the exception and produce consolidated accounts. |
TURNOVER |
Revenue is the amount derived from the online commercial supply of stationery products, stated after trade discounts and net of VAT. |
Revenue is recognised when the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity. |
GOODWILL |
Goodwill represents the difference between the fair value of the consideration paid on acquisition of a business and the fair value of its separable net assets at the date of acquisition. Goodwill in Caboodle is being amortised evenly over its estimated useful life on an individual basis as determined by the director. |
Monkey Office Ltd was acquired in the year ending 31 December 2010 |
Cartridges 2 U was acquired in the year ending 31 December 2011 |
Paperpunch Limited was acquired in the year ending 31 December 2011 |
Caboodle was acquired in the year ending 31 December 2012 |
INTANGIBLE ASSETS |
Patents and licenses are initially recognised at cost. After initial recognition, patents and licenses are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Patents and licenses are being amortised over their useful economic life of 5 years. |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
TANGIBLE FIXED ASSETS |
Plant and machinery | - |
Computer equipment | - |
Motor vehicles | - |
Website and software | - |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
The assets' residual values, useful lives and depreciation methods are reviewed and if appropriate are adjusted if there is an indication of a significant change since the last reporting date. |
INVESTMENTS IN SUBSIDIARIES |
Investments in subsidiaries are held at historical cost less any applicable provision for impairment. The company assesses at each reporting date whether there is an indication that an investment may be impaired. If any such indications exist the company makes an estimate of the asset's recoverable amount in order to determine the extent of the impairment loss. |
FINANCIAL INSTRUMENTS |
Financial assets such as cash and debtors are measured at the present value of the amounts receivable, less an allowance for the expected level of doubtful receivables. Financial liabilities such as trade creditors, loans and finance leases are measured at the present value of the obligation. |
TRADE AND OTHER RECEIVABLES |
Trade and other debtors are recognised and carried at the lower of their original value and recoverable amount. Financial assets classified as receivable within one year are not amortised. |
TRADE PAYABLES |
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 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 no amortised. |
TAXATION |
Taxation for the year comprises current tax. Tax is recognised in the Consolidated Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current taxation assets and liabilities are not discounted. |
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 balance sheet date. |
HIRE PURCHASE AND LEASING COMMITMENTS |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
4. | INTANGIBLE FIXED ASSETS |
Group |
Patents |
and |
Goodwill | licences | Totals |
£ | £ | £ |
COST |
At 31 December 2022 |
and 30 December 2023 | 340,653 | 1,511 | 342,164 |
AMORTISATION |
At 31 December 2022 | 340,653 | 907 | 341,560 |
Amortisation for year | - | 302 | 302 |
At 30 December 2023 | 340,653 | 1,209 | 341,862 |
NET BOOK VALUE |
At 30 December 2023 | - | 302 | 302 |
At 30 December 2022 | - | 604 | 604 |
Company |
Goodwill |
£ |
COST |
At 31 December 2022 |
and 30 December 2023 |
AMORTISATION |
At 31 December 2022 |
and 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
5. | TANGIBLE FIXED ASSETS |
Group |
Website |
Plant and | Computer | Motor | and |
machinery | equipment | vehicles | software | Totals |
£ | £ | £ | £ | £ |
COST |
At 31 December 2022 | 38,347 | 8,484 | 189,986 | 346,395 | 583,212 |
Additions | - | 1,128 | 96,650 | 9,120 | 106,898 |
Disposals | - | - | (74,695 | ) | - | (74,695 | ) |
At 30 December 2023 | 38,347 | 9,612 | 211,941 | 355,515 | 615,415 |
DEPRECIATION |
At 31 December 2022 | 36,974 | 6,373 | 109,707 | 208,594 | 361,648 |
Charge for year | 1,175 | 1,048 | 37,073 | 21,163 | 60,459 |
Eliminated on disposal | - | - | (32,156 | ) | - | (32,156 | ) |
At 30 December 2023 | 38,149 | 7,421 | 114,624 | 229,757 | 389,951 |
NET BOOK VALUE |
At 30 December 2023 | 198 | 2,191 | 97,317 | 125,758 | 225,464 |
At 30 December 2022 | 1,373 | 2,111 | 80,279 | 137,801 | 221,564 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 31 December 2022 | 189,986 |
Additions | 96,650 |
Disposals | (74,695 | ) |
At 30 December 2023 | 211,941 |
DEPRECIATION |
At 31 December 2022 | 109,707 |
Charge for year | 37,073 |
Eliminated on disposal | (32,156 | ) |
At 30 December 2023 | 114,624 |
NET BOOK VALUE |
At 30 December 2023 | 97,317 |
At 30 December 2022 | 80,279 |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Company |
Website |
Plant and | Computer | Motor | and |
machinery | equipment | vehicles | software | Totals |
£ | £ | £ | £ | £ |
COST |
At 31 December 2022 |
Additions |
Disposals | ( | ) | ( | ) |
At 30 December 2023 |
DEPRECIATION |
At 31 December 2022 |
Charge for year |
Eliminated on disposal | ( | ) | ( | ) |
At 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 31 December 2022 |
Additions |
Disposals | ( | ) |
At 30 December 2023 |
DEPRECIATION |
At 31 December 2022 |
Charge for year |
Eliminated on disposal | ( | ) |
At 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
6. | FIXED ASSET INVESTMENTS |
Group |
Shares in |
group |
undertakings |
£ |
COST |
At 31 December 2022 |
and 30 December 2023 | 500 |
NET BOOK VALUE |
At 30 December 2023 | 500 |
At 30 December 2022 | 500 |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
6. | FIXED ASSET INVESTMENTS - continued |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 31 December 2022 |
and 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
SUBSIDIARIES |
Registered office: 1st Floor Chilworth Point, 1 Chilworth Road, Southampton, Hampshire, United Kingdom, SO16 7JQ |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Registered office: 1st Floor Chilworth Point, 1 Chilworth Road, Southampton, Hampshire, United Kingdom, SO16 7JQ |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Registered office: 1st Floor Chilworth Point, 1 Chilworth Road, Southampton, Hampshire, United Kingdom, SO16 7JQ |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
6. | FIXED ASSET INVESTMENTS - continued |
Registered office: 1st Floor Chilworth Point, 1 Chilworth Road, Southampton, Hampshire, United Kingdom, SO16 7JQ |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Registered office: 1st Floor Chilworth Point, 1 Chilworth Road, Southampton, Hampshire, United Kingdom, SO16 7JQ |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Registered office: 1st Floor Chilworth Point, 1 Chilworth Road, Southampton, Hampshire, United Kingdom, SO16 7JQ |
Nature of business: |
% |
Class of shares: | holding |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves |
Profit for the year/period |
With the exception of the consolidated trading subsidiary, Caboodle Office Supplies Limited, the subsidiaries shown above have not been included in the consolidation as their combined value is not material. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Trade debtors | 442,763 | 417,789 |
Amounts owed by group undertakings | - | - |
Other debtors | 82,173 | 133,787 |
Loans to associates | 79,668 | 79,701 | - | - |
Directors' current accounts | 47,019 | - |
Tax | 5,932 | 5,932 |
Prepayments and sundry debtors | 269,567 | 213,758 |
927,122 | 850,967 |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans and overdrafts | 52,789 | 50,072 |
Hire purchase contracts (see note 11) | 21,534 | 12,270 |
Trade creditors | 687,704 | 474,190 |
Amounts owed to group undertakings | 30,001 | 30,000 |
Tax | 29,015 | 85,837 |
Social security and other taxes | 16,713 | 8,681 |
VAT | 46,481 | 44,811 |
Other creditors | 20,450 | 14,019 |
Directors' current accounts | - | 38,044 | - | - |
Accrued expenses | 151,872 | 75,024 |
1,056,559 | 832,948 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans - 1-2 years | 56,269 | 52,614 |
Bank loans - 2-5 years | 42,410 | 98,307 |
Hire purchase contracts (see note 11) | - | 19,428 |
98,679 | 170,349 |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year | 21,534 | 12,270 |
Between one and five years | - | 19,428 |
21,534 | 31,698 |
Company |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
MOORSIDE OFFICE LIMITED (REGISTERED NUMBER: 07112002) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 DECEMBER 2023 |
10. | LEASING AGREEMENTS - continued |
Group |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year | 21,550 | 13,860 |
Between one and five years | 25,500 | - |
In more than five years | 74,800 | - |
121,850 | 13,860 |
Company |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
11. | RESERVES |
Retained earnings show the net value of accumulated gains and losses. |
The capital redemption reserve arose on a company purchase of own shares, and is non-distributable. |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the year ended 30 December 2023 and the period ended 30 December 2022: |
2023 | 2022 |
£ | £ |
Mr C P Burlton |
Balance outstanding at start of year | (38,044 | ) | 73,532 |
Amounts advanced | 170,152 | 19,095 |
Amounts repaid | (85,089 | ) | (130,671 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 47,019 | (38,044 | ) |
This balance is unsecured, repayable on demand and interest has been charged. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MOORSIDE OFFICE LIMITED |
The following reproduces the text of the report preapred for the director in respect of the group's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Moorside Office Limited for the year ended 30 December 2023 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet and the related notes from the company's and the group's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Moorside Office Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Moorside Office Limited and state those matters that we have agreed to state to the director of Moorside Office Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moorside Office Limited the company and the group and the company's director for our work or for this report. |
It is your duty to ensure that Moorside Office Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Moorside Office Limited. You consider that Moorside Office Limited 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 financial statements of Moorside Office Limited. 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 financial statements. |
Rothmans LLP |
Chartered Accountants |
Chilworth Point |
1 Chilworth Road |
Southampton |
SO16 7JQ |
Date: ............................................. |