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Company registration number: 02042664
Moussa Direct Limited
Trading as Moussa Direct Limited
Unaudited filleted financial statements
31 March 2024
Moussa Direct Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Moussa Direct Limited
Directors and other information
Directors Brian Eberhardie
Kendal Martyn
Mina Eberhardie
Secretary Mina Eberhardie
Company number 02042664
Registered office 31 Coldhams Road
Cambridge
Cambridgeshire
CB1 3EW
Business address 31 Coldhams Road
Cambridge
Cambridgeshire
CB1 3EW
Accountants i-Accounting Solutions Ltd
The Enterprise Centre
University of East Anglia
Norwich
Norfolk
NR4 7TJ
Bankers National Westminster Bank Plc
23 Market Street
Cambridge
CB2 3PA
Moussa Direct Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Moussa Direct Limited
Year ended 31 March 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 Moussa Direct Limited for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Moussa Direct Limited, as a body, in accordance with the terms of our engagement letter dated 14 November 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Moussa Direct Limited and state those matters that we have agreed to state to the board of directors of Moussa Direct Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moussa Direct Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Moussa Direct Limited 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 Moussa Direct Limited. You consider that Moussa Direct Limited 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 Moussa Direct Limited. 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.
i-Accounting Solutions Ltd
Chartered Certified Accountants
The Enterprise Centre
University of East Anglia
Norwich
Norfolk
NR4 7TJ
2 December 2024
Moussa Direct Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 89,590 105,122
_______ _______
89,590 105,122
Current assets
Stocks 835,258 756,464
Debtors 6 254,663 267,720
Cash at bank and in hand 310,677 229,086
_______ _______
1,400,598 1,253,270
Creditors: amounts falling due
within one year 7 ( 186,913) ( 153,060)
_______ _______
Net current assets 1,213,685 1,100,210
_______ _______
Total assets less current liabilities 1,303,275 1,205,332
Provisions for liabilities ( 11,206) ( 9,901)
_______ _______
Net assets 1,292,069 1,195,431
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,291,969 1,195,331
_______ _______
Shareholders funds 1,292,069 1,195,431
_______ _______
For the year ending 31 March 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Brian Eberhardie Mina Eberhardie
Director Director
Company registration number: 02042664
Moussa Direct Limited
Notes to the financial statements
Year ended 31 March 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 Moussa Direct Limited, 31 Coldhams Road, Cambridge, Cambridgeshire, CB1 3EW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 capital allowance 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 are 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.
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:
Freehold property - 4 % straight line
Plant and machinery - 15% and 33% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their 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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price. This includes Trade Debtors, Trade Creditors, Other creditors, Other debtors, Accruals and Payments in Advance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 15 ).
5. Tangible assets
Freehold property Plant and machinery Total
£ £ £
Cost
At 1 April 2023 206,194 191,689 397,883
Additions - 7,800 7,800
_______ _______ _______
At 31 March 2024 206,194 199,489 405,683
_______ _______ _______
Depreciation
At 1 April 2023 153,182 139,579 292,761
Charge for the year 8,248 15,084 23,332
_______ _______ _______
At 31 March 2024 161,430 154,663 316,093
_______ _______ _______
Carrying amount
At 31 March 2024 44,764 44,826 89,590
_______ _______ _______
At 31 March 2023 53,012 52,110 105,122
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 109,104 181,470
Other debtors 145,559 86,250
_______ _______
254,663 267,720
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 18,929 18,660
Corporation tax 46,915 60,538
Social security and other taxes 60,071 53,713
Other creditors 60,998 20,149
_______ _______
186,913 153,060
_______ _______