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Filleted
Registration number: 10162338

Mobile Sheep Services Limited

trading as Made at Moithan

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Mobile Sheep Services Limited

trading as Made at Moithan

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 10

 

Mobile Sheep Services Limited

trading as Made at Moithan

Company Information

Director

Mrs A R W Watts

Registered office

Moithan Fields
Martletwy
Narberth
SA67 8BA

Accountants

LHP Haverfordwest
Chartered Certified Accountants1st Floor
Agriculture House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

 

Mobile Sheep Services Limited

trading as Made at Moithan

Director's Report for the Year Ended 31 March 2024

The director presents her report and the financial statements for the year ended 31 March 2024.

Director of the company

The director who held office during the year was as follows:

Mrs A R W Watts

Principal activity

The principal activity of the company is Support activities for animal production

Small companies provision statement

This report has 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.

Approved by the director on 20 December 2024 and signed on its behalf by:

.........................................
Mrs A R W Watts
Director

   
     
 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mobile Sheep Services Limited

trading as Made at Moithan
for the 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 accounts of Mobile Sheep Services Limited for the year ended 31 March 2024 as set out on pages 4 to 10 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 (ACCA), we are subject to its ethical and other professional requirements which are disclosed and available at the following website https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.

This report is made solely to the Board of Directors of Mobile Sheep Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Mobile Sheep Services Limited and state those matters that we have agreed to state to the Board of Directors of Mobile Sheep Services Limited, as a body, in this report in accordance with the requirements of the ACCA as detailed at the following website http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mobile Sheep Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mobile Sheep Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mobile Sheep Services Limited. You consider that Mobile Sheep Services 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 accounts of Mobile Sheep Services 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 accounts.

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

LHP Haverfordwest
Chartered Certified Accountants
1st Floor
Agriculture House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

20 December 2024

 

Mobile Sheep Services Limited

trading as Made at Moithan

(Registration number: 10162338)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

7,934

8,819

Current assets

 

Stocks

5

1,646

500

Debtors

6

22,743

4,366

Cash at bank and in hand

 

2,216

721

 

26,605

5,587

Creditors: Amounts falling due within one year

7

(35,130)

(17,953)

Net current liabilities

 

(8,525)

(12,366)

Total assets less current liabilities

 

(591)

(3,547)

Provisions for liabilities

(1,507)

-

Net liabilities

 

(2,098)

(3,547)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(2,100)

(3,549)

Shareholders' deficit

 

(2,098)

(3,547)

For the financial 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.

Director's 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 director acknowledges her 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account and Director's Report.

Approved and authorised by the director on 20 December 2024
 

.........................................
Mrs A R W Watts
Director

   
     
 

Mobile Sheep Services Limited

trading as Made at Moithan

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Moithan Fields
Martletwy
Narberth
SA67 8BA

These financial statements were authorised for issue by the director on 20 December 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 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 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 sales/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 current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mobile Sheep Services Limited

trading as Made at Moithan

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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.

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

Plant and machinery

15% reducing balance

Motor vehicles

20% reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Mobile Sheep Services Limited

trading as Made at Moithan

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

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 the director) during the year, was 1 (2023 - 2).

 

Mobile Sheep Services Limited

trading as Made at Moithan

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

8,427

7,482

15,909

Additions

655

-

655

At 31 March 2024

9,082

7,482

16,564

Depreciation

At 1 April 2023

2,876

4,214

7,090

Charge for the year

887

653

1,540

At 31 March 2024

3,763

4,867

8,630

Carrying amount

At 31 March 2024

5,319

2,615

7,934

At 31 March 2023

5,551

3,268

8,819

5

Stocks

2024
£

2023
£

Work in progress

1,146

-

Other inventories

500

500

1,646

500

6

Debtors

Current

2024
£

2023
£

Trade debtors

188

-

Other debtors

22,555

4,366

 

22,743

4,366

 

Mobile Sheep Services Limited

trading as Made at Moithan

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

2,017

1,040

Other creditors

 

26,770

14,725

Corporation tax liability

 

6,343

2,188

 

35,130

17,953

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Mobile Sheep Services Limited

trading as Made at Moithan

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Mrs A R W Watts

Interest free loan with no fixed payment term

3,965

12,202

16,167

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mrs A R W Watts

Interest free loan with no fixed payment term

-

10,480

(6,515)

3,965

Mr L E W Watts

Interest free loan with no fixed payment term

-

3,960

(3,960)

-