Registered number
07980540
Mojo Active Limited
Filleted Accounts
31 March 2024
Mojo Active Limited
Registered number: 07980540
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 341,076 295,999
Current assets
Stocks 1,098 500
Debtors 4 27,432 9,780
Cash at bank and in hand 47,888 61,875
76,418 72,155
Creditors: amounts falling due within one year 5 (67,049) (51,847)
Net current assets 9,369 20,308
Total assets less current liabilities 350,445 316,307
Creditors: amounts falling due after more than one year 6 (87,918) (45,142)
Provisions for liabilities (50,795) (45,220)
Net assets 211,732 225,945
Capital and reserves
Called up share capital 4 4
Profit and loss account 211,728 225,941
Shareholders' funds 211,732 225,945
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M S Johnson
Director
Approved by the board on 2 December 2024
Mojo Active Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 15% and 25% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 19 19
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 518,877
Additions 103,441
At 31 March 2024 622,318
Depreciation
At 1 April 2023 222,878
Charge for the year 58,364
At 31 March 2024 281,242
Net book value
At 31 March 2024 341,076
At 31 March 2023 295,999
4 Debtors 2024 2023
£ £
Trade debtors 25,522 7,872
Other debtors 1,910 1,908
27,432 9,780
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Obligations under finance lease and hire purchase contracts 21,965 8,863
Trade creditors 8,890 10,877
Taxation and social security costs 24,290 19,284
Other creditors 1,256 2,175
67,049 51,847
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,750 21,707
Obligations under finance lease and hire purchase contracts 76,168 23,435
87,918 45,142
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases - 891
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr M S Johnson
Loan - 153 - 153
- 153 - 153
9 Controlling party
The company is controlled by Mr B McConnell by virtue of his majority shareholding.
10 Other information
Mojo Active Limited is a private company limited by shares and incorporated in England. Its registered office is:
Over Court Farm
Over Lane
Almondsbury
Bristol
BS32 4DF
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