Company registration number 05373155 (England and Wales)
MOORE AND SMALLEY C.A. LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MOORE AND SMALLEY C.A. LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MOORE AND SMALLEY C.A. LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,502
61,385
Current assets
Debtors
4
362,877
328,742
Cash at bank and in hand
4,603
20,632
367,480
349,374
Creditors: amounts falling due within one year
5
(372,981)
(410,758)
Net current liabilities
(5,501)
(61,384)
Total assets less current liabilities
1
1
Capital and reserves
Called up share capital
6
1
1
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 October 2024 and are signed on its behalf by:
Ms C A Wilson
Mrs D S Wood
Director
Director
Company Registration No. 05373155
MOORE AND SMALLEY C.A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Moore and Smalley C.A. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Richard House, 9 Winckley Square, Preston, PR1 3HP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
On 1 April 2024, the group headed by Moore and Smalley LLP merged in its entirety with MHA Macintyre Hudson (MHA). All activities have been transferred into the MHA group structure and therefore Moore and Smalley C.A. Limited has ceased to trade from this date.
As such, the company is no longer a going concern and the accounts have been prepared on a basis other than going concern. This has not resulted in any adjustment to the amounts reported in the financial statements.
1.3
Turnover
Turnover represents the fair value of the consideration receivable in respect of services provided during the year, excluding value added tax. Where the outcome of a transaction can be estimated reliably, turnover associated with the transaction is recognised in the profit and loss account by reference to the value of the uncompleted work at the balance sheet date, provided that a right to consideration has been obtained through performance.
Fee income in respect of contingent fee assignments is recognised in the period when the contingent event occurs and collectability of the fee is assured.
Unbilled turnover is included in debtors as "Amounts recoverable on contracts".
1.4
Intangible fixed assets - goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the balance sheet and amortised over its estimated useful life of 10 years. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable.
1.5
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.
MOORE AND SMALLEY C.A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Other financial assets
The company has no financial instruments that are classified as other financial assets.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and bank 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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 current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Other financial liabilities
The company has no financial instruments that are classified as other financial liabilities.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
MOORE AND SMALLEY C.A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
1,231,344
Amortisation and impairment
At 1 April 2023
1,169,959
Amortisation charged for the year
55,883
At 31 March 2024
1,225,842
Carrying amount
At 31 March 2024
5,502
At 31 March 2023
61,385
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
316,499
280,828
Other debtors
46,378
47,914
362,877
328,742
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
368,574
399,578
Other creditors
4,407
11,180
372,981
410,758
MOORE AND SMALLEY C.A. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Craig Fishwick FCCA
Statutory Auditor:
Mayes Business Partnership Ltd
8
Events after the reporting date
On 1 April 2024, the group headed by Moore and Smalley LLP merged in its entirety with MHA Macintyre Hudson (MHA). All activities have been transferred into the MHA group structure and therefore Moore and Smalley C.A. Limited has ceased to trade from this date.
As such, the company is no longer a going concern and the accounts have been prepared on a basis other than going concern. This has not resulted in any adjustment to the amounts reported in the financial statements.
9
Related party transactions
The company acts as guarantor for the bank borrowings of its parent, Moore and Smalley LLP. The amount outstanding at 31 March 2024 was £nil (2023: £1,300,004).
The company has taken advantage of the exemption permitted under Section 1AC.35 from disclosing transactions with the parent and fellow subsidiary companies.
10
Parent company
The company is a wholly owned subsidiary of Moore and Smalley LLP whose registered office is Richard House, Winckley Square, Preston, PR1 3HP.
Moore and Smalley LLP heads the only group the accounts are consolidated in. The accounts for Moore and Smalley LLP are available from Companies House, Cardiff.