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2023-07-01
Sage Accounts Production Advanced 2023 - FRS102_2023
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13138962
2023-07-01
2024-06-30
13138962
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13138962
2023-06-30
13138962
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2023-06-30
13138962
2023-06-30
13138962
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13138962
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2024-06-30
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2024-06-30
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13138962
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13138962
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2024-06-30
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13138962
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2024-06-30
COMPANY REGISTRATION NUMBER:
13138962
Wild Moose on the Loose Ltd |
|
Filleted Unaudited Financial Statements |
|
Wild Moose on the Loose Ltd |
|
Year ended 30 June 2024
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Wild Moose on the Loose Ltd |
|
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Wild Moose on the Loose Ltd |
|
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wild Moose on the Loose Ltd for the year ended 30 June 2024, which comprise the statement of financial position and the related notes from the company'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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Wild Moose on the Loose Ltd, as a body, in accordance with the terms of our engagement letter dated 12 August 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Wild Moose on the Loose Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wild Moose on the Loose Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Wild Moose on the Loose Ltd 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 Wild Moose on the Loose Ltd. You consider that Wild Moose on the Loose 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 financial statements of Wild Moose on the Loose 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 financial statements.
HEBBLETHWAITES
Chartered accountants
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
23 October 2024
Wild Moose on the Loose Ltd |
|
Statement of Financial Position |
|
30 June 2024
Fixed assets
Tangible assets |
5 |
16,291 |
267 |
|
|
|
|
Current assets
Stocks |
79,435 |
23,254 |
Debtors |
6 |
500 |
3,560 |
Cash at bank and in hand |
47,217 |
26,161 |
|
--------- |
-------- |
|
127,152 |
52,975 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
87,167 |
52,177 |
|
--------- |
-------- |
Net current assets |
39,985 |
798 |
|
-------- |
------- |
Total assets less current liabilities |
56,276 |
1,065 |
|
|
|
|
Provisions |
4,073 |
– |
|
-------- |
------- |
Net assets |
52,203 |
1,065 |
|
-------- |
------- |
|
|
|
Capital and reserves
Called up share capital |
1 |
1 |
Profit and loss account |
52,202 |
1,064 |
|
-------- |
------- |
Shareholders funds |
52,203 |
1,065 |
|
-------- |
------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Wild Moose on the Loose Ltd |
|
Statement of Financial Position (continued) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
22 October 2024
, and are signed on behalf of the board by:
Company registration number:
13138962
Wild Moose on the Loose Ltd |
|
Notes to the Financial Statements |
|
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 68 Silverdale Road, Sheffield, S11 9JL.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
33% straight line |
|
Motor vehicles |
- |
20% reducing balance |
|
Equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Tangible assets
|
Plant and machinery |
Motor vehicles |
Office and computer equipment |
Total |
|
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
At 1 July 2023 |
646 |
– |
98 |
744 |
Additions |
388 |
16,600 |
229 |
17,217 |
|
------- |
-------- |
---- |
-------- |
At 30 June 2024 |
1,034 |
16,600 |
327 |
17,961 |
|
------- |
-------- |
---- |
-------- |
Depreciation |
|
|
|
|
At 1 July 2023 |
429 |
– |
48 |
477 |
Charge for the year |
292 |
830 |
71 |
1,193 |
|
------- |
-------- |
---- |
-------- |
At 30 June 2024 |
721 |
830 |
119 |
1,670 |
|
------- |
-------- |
---- |
-------- |
Carrying amount |
|
|
|
|
At 30 June 2024 |
313 |
15,770 |
208 |
16,291 |
|
------- |
-------- |
---- |
-------- |
At 30 June 2023 |
217 |
– |
50 |
267 |
|
------- |
-------- |
---- |
-------- |
|
|
|
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
500 |
118 |
Other debtors |
– |
3,442 |
|
---- |
------- |
|
500 |
3,560 |
|
---- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
24,860 |
2,994 |
Corporation tax |
9,323 |
– |
Social security and other taxes |
9,073 |
– |
Other creditors |
43,911 |
49,183 |
|
-------- |
-------- |
|
87,167 |
52,177 |
|
-------- |
-------- |
|
|
|
8.
Related party transactions
At the year end a director was due £42,161 (2023: £47,433) from the company. No Interest was charged on the loan and the loan is repayable on demand.