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Registered number: 07075553
Mowbray Indigo 157 Limited
Unaudited Financial Statements
For the Period 1 November 2022 to 31 January 2024
Wilkinson Accounting Solutions Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07075553
31 January 2024 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,520,000 -
Tangible Assets 5 2,699,265 2,742,053
4,219,265 2,742,053
CURRENT ASSETS
Stocks 6 389,540 389,540
Debtors 7 176,000 1,816,170
Investments 8 400,000 400,000
Cash at bank and in hand 24,265 36,720
989,805 2,642,430
Creditors: Amounts Falling Due Within One Year 9 (227,302 ) (110,688 )
NET CURRENT ASSETS (LIABILITIES) 762,503 2,531,742
TOTAL ASSETS LESS CURRENT LIABILITIES 4,981,768 5,273,795
Creditors: Amounts Falling Due After More Than One Year 10 (2,754,969 ) (2,903,528 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (46,096 ) (46,096 )
NET ASSETS 2,180,703 2,324,171
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 2,180,603 2,324,071
SHAREHOLDERS' FUNDS 2,180,703 2,324,171
Page 1
Page 2
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Sprinz
Director
31/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mowbray Indigo 157 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07075553 . The registered office is Stuart House, East Wing, St John's Street, Peterborough, PE1 5DD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18% on reducing balance
Fixtures & Fittings 18% on reducing balance
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9.
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 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1 (2022: 1)
1 1
4. Intangible Assets
Goodwill Dentmech investment Total
£ £ £
Cost
As at 1 November 2022 346,304 - 346,304
Additions - 1,520,000 1,520,000
As at 31 January 2024 346,304 1,520,000 1,866,304
Amortisation
As at 1 November 2022 346,304 - 346,304
As at 31 January 2024 346,304 - 346,304
...CONTINUED
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Page 5
Net Book Value
As at 31 January 2024 - 1,520,000 1,520,000
As at 1 November 2022 - - -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2022 2,430,110 565,922 10,939 3,006,971
Additions 10,203 14,898 7,292 32,393
As at 31 January 2024 2,440,313 580,820 18,231 3,039,364
Depreciation
As at 1 November 2022 - 261,844 3,074 264,918
Provided during the period - 71,770 3,411 75,181
As at 31 January 2024 - 333,614 6,485 340,099
Net Book Value
As at 31 January 2024 2,440,313 247,206 11,746 2,699,265
As at 1 November 2022 2,430,110 304,078 7,865 2,742,053
6. Stocks
31 January 2024 31 October 2022
£ £
Stock 389,540 389,540
7. Debtors
31 January 2024 31 October 2022
£ £
Due within one year
Trade debtors 96,900 96,900
Other debtors 18,814 1,714,365
VAT 27,253 4,905
Director's loan account 33,033 -
176,000 1,816,170
8. Current Asset Investments
31 January 2024 31 October 2022
£ £
Unlisted investments 400,000 400,000
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9. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 October 2022
£ £
Trade creditors 220,878 104,264
Corporation tax 1,750 1,750
Accruals 4,674 4,674
227,302 110,688
10. Creditors: Amounts Falling Due After More Than One Year
31 January 2024 31 October 2022
£ £
Intercompany Loan - CG Sprinz Ltd 849,362 421,127
Creditors : Long Term LOANS 1,061,748 1,147,384
Novuna Business Loan 56,247 61,305
Intercompany Loan - Bristol Soap 99,446 94,946
Intercompany Loan - HVE 70,351 125,851
Intercompany Loan - Bushfield Surgery (69,978 ) (159,878 )
Intercompany Loan - Servisdent (75,000 ) (75,000 )
Intercompany Loan - MI Ltd 762,793 1,287,793
2,754,969 2,903,528
11. Share Capital
31 January 2024 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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