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Registration number: 12009232

MooAva Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2024

 

MooAva Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

MooAva Limited

Company Information

Directors

Ms R Bedgood

Mr GC Jones

Registered office

The Screening House
Cwm Cynon Business Park
Mountain Ash
CF45 4ER

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

MooAva Limited

(Registration number: 12009232)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,481,123

1,804,877

Investments

5

750

-

 

2,481,873

1,804,877

Current assets

 

Debtors

510,796

2,037

Cash at bank and in hand

 

8,787

193,715

 

519,583

195,752

Creditors: Amounts falling due within one year

(79)

(600)

Net current assets

 

519,504

195,152

Total assets less current liabilities

 

3,001,377

2,000,029

Creditors: Amounts falling due after more than one year

6.1

(2,664,750)

(1,658,918)

Provisions for liabilities

(78,853)

(72,201)

Accruals and deferred income

 

(1,980)

(1,800)

Net assets

 

255,794

267,110

Capital and reserves

 

Called up share capital

7

100

100

Revaluation reserve

8

262,598

283,605

Retained earnings

(6,904)

(16,595)

Shareholders' funds

 

255,794

267,110

 

MooAva Limited

(Registration number: 12009232)
Abridged Balance Sheet as at 31 May 2024

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

.........................................

Ms R Bedgood
Director

 

MooAva Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 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 Screening House
Cwm Cynon Business Park
Mountain Ash
CF45 4ER
Wales

These financial statements were authorised for issue by the Board on 25 November 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 abridged 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 abridged 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.

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 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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

MooAva Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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

Furniture and fittings

20% Straight line

Land and buildings

No depreciation

New additions to property are not depreciated in the year of purchase, additions to property are depreciated in the subsequent year.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

MooAva Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 directors) during the year, was 2 (2023 - 2).

 

MooAva Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Land and buildings
£

Furniture and fittings
 £

Total
£

Cost or valuation

At 1 June 2023

1,775,000

45,889

1,820,889

Additions

684,720

813

685,533

At 31 May 2024

2,459,720

46,702

2,506,422

Depreciation

At 1 June 2023

-

16,012

16,012

Charge for the year

-

9,287

9,287

At 31 May 2024

-

25,299

25,299

Carrying amount

At 31 May 2024

2,459,720

21,403

2,481,123

At 31 May 2023

1,775,000

29,877

1,804,877

Included within the net book value of land and buildings above is £2,459,720 (2023 - £1,775,000) in respect of freehold land and buildings.
 

 

MooAva Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

5

Investments

Total
£

Cost or valuation

Additions

750

Provision

Carrying amount

At 31 May 2024

750

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Escapade 42 Limited

The Screening House,
Cwm Cynon Business Park,
Mountain Ash, Wales,
CF45 4ER

England and Wales

Ordinary shares

100%

0%

Subsidiary undertakings

Escapade 42 Limited

The principal activity of Escapade 42 Limited is that of the development of building projects.

6

Creditors

Creditors: amounts falling due after more than one year

Creditors include bank loans, secured against property within the accounts, repayable by instalments. The amount due after more than five years is £1,228,314 (2023: £763,237).

 

MooAva Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(21,007)

(21,007)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

283,605

283,605

9

Related party transactions

Other transactions with directors

During the year the directors made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the amount owed to the directors was £525,636 (2023: £254,251).

Summary of transactions with subsidiaries

Escapade 42 Limited
 During the year MooAva Limited paid expenses on behalf of Escapade 42 Limited totalling £510,796. At the balance sheet date the the amount owed to MooAva Limited was £510,796 (2023: £Nil).
 

Summary of transactions with other related parties

Complete Background Screening Limited
 During the year Complete Background Screening Limited, a company which Ms R Bedgood and Mr G Jones are also directors' and shareholders, loaned the company £269,370. At the balance sheet date the amount owed to Complete Background Screening Limited was £910,800 (2023: £641,430).