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Registration number: 09500090


D & J Moseley Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

D & J Moseley Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

D & J Moseley Limited

Company Information

Director

Mr D H Moseley

Registered office

B Holding
Roughcote Lane
Caverswall
Stoke-on-Trent
Staffordshire
ST11 9ES

Accountants

Howsons (Stoke) Limited
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

D & J Moseley Limited

(Registration number: 09500090)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

461,884

463,262

Current assets

 

Stocks

5

238,119

246,929

Debtors

6

30,573

34,893

Cash at bank and in hand

 

-

1,188

 

268,692

283,010

Creditors: Amounts falling due within one year

7

(678,558)

(659,264)

Net current liabilities

 

(409,866)

(376,254)

Total assets less current liabilities

 

52,018

87,008

Creditors: Amounts falling due after more than one year

7

(43,692)

(29,140)

Provisions for liabilities

(62,000)

(71,000)

Net liabilities

 

(53,674)

(13,132)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(53,684)

(13,142)

Shareholders' deficit

 

(53,674)

(13,132)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

D & J Moseley Limited

(Registration number: 09500090)
Balance Sheet as at 31 March 2024

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 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 October 2024
 

.........................................
Mr D H Moseley
Director

 

D & J Moseley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
B Holding
Roughcote Lane
Caverswall
Stoke-on-Trent
Staffordshire
ST11 9ES

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

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

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:

 

D & J Moseley Limited

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

Asset class

Depreciation method and rate

Plant and machinery

10% reducing balance basis

Tractors

10% reducing balance basis

Motor vehicles

20% reducing balance basis

Short leasehold property

leasehold property is not considered to be a depreciating asset and is therefore shown at cost price in order to show a true and fair view

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, 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 receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

 

D & J Moseley Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

4

Tangible assets

Short leasehold property
£

Motor vehicles and tractors
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

87,770

376,334

245,678

709,782

Additions

-

37,950

59,983

97,933

Disposals

-

(64,790)

(8,166)

(72,956)

At 31 March 2024

87,770

349,494

297,495

734,759

Depreciation

At 1 April 2023

-

161,544

84,976

246,520

Charge for the year

-

16,012

18,773

34,785

Eliminated on disposal

-

(3,779)

(4,651)

(8,430)

At 31 March 2024

-

173,777

99,098

272,875

Carrying amount

At 31 March 2024

87,770

175,717

198,397

461,884

At 31 March 2023

87,770

214,790

160,702

463,262

5

Stocks

2024
£

2023
£

Other inventories

238,119

246,929

6

Debtors

2024
£

2023
£

Trade debtors

20,098

24,559

Prepayments

500

2,842

Other debtors

9,975

7,492

 

30,573

34,893

 

D & J Moseley Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

16,415

-

Trade creditors

 

46,723

19,620

Taxation and social security

 

-

1,507

Other creditors

 

3,700

3,475

Other borrowings

8

33,880

35,132

Directors' loan account

 

577,840

599,530

 

678,558

659,264

Due after one year

 

Loans and borrowings

8

43,692

29,140

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase

43,692

29,140

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

16,415

-

Hire purchase

33,880

35,132

50,295

35,132