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Registration number: 14203446

Moody Cow Enterprises Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Moody Cow Enterprises Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Moody Cow Enterprises Limited

Company Information

Director

Mr R E Kitching

Registered office

The Hour House
32 High Street
Rickmansworth
Hertfordshire
WD3 1ER

 

Moody Cow Enterprises Limited

(Registration number: 14203446)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed Assets

 

Intangible assets

4

40,000

-

Tangible Assets

5

74,289

60,384

 

114,289

60,384

Current assets

 

Stocks

6

10,467

7,066

Debtors

7

19,573

3,112

Cash at bank and in hand

 

22,144

3,589

 

52,184

13,767

Creditors: Amounts falling due within one year

8

(218,675)

(75,033)

Net current liabilities

 

(166,491)

(61,266)

Net liabilities

 

(52,202)

(882)

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

(52,203)

(883)

Shareholders' deficit

 

(52,202)

(882)

For the financial 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.

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.

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.

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 25 October 2024
 

.........................................
Mr R E Kitching
Director

 

Moody Cow Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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:
The Hour House
32 High Street
Rickmansworth
Hertfordshire
WD3 1ER

These financial statements were authorised for issue by the director on 25 October 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

 

Moody Cow Enterprises Limited

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Moody Cow Enterprises Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

50,000

50,000

At 31 January 2024

50,000

50,000

Amortisation

Amortisation charge

10,000

10,000

At 31 January 2024

10,000

10,000

Carrying amount

At 31 January 2024

40,000

40,000

5

Tangible Assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

60,384

60,384

Additions

32,305

32,305

At 31 January 2024

92,689

92,689

Depreciation

Charge for the year

18,400

18,400

At 31 January 2024

18,400

18,400

Carrying amount

At 31 January 2024

74,289

74,289

At 31 January 2023

60,384

60,384

6

Stocks

2024
£

2023
£

Other inventories

10,467

7,066

7

Debtors

Current

2024
£

2023
£

Trade debtors

7,983

2,934

Prepayments

340

178

Other debtors

11,250

-

 

19,573

3,112

 

Moody Cow Enterprises Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

12,715

4,968

Taxation and social security

-

65

Other creditors

205,960

70,000

218,675

75,033

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

10

Related party transactions

Included within creditors is an amount of £15,960 due to the Director, and £81,000 (2023: £70,000) and £44,000 due to Thirstee Business Southern Limited and Swim farms Limited respectively which are companies controlled by the Director.