Registered number
08410942
Moyler & Son Ltd
Filleted Accounts
29 March 2024
Moyler & Son Ltd
Registered number: 08410942
Balance Sheet
as at 29 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,000 3,000
Tangible assets 4 1,892 2,523
3,892 5,523
Current assets
Debtors 5 7,507 16,500
Cash at bank and in hand 10,929 2,370
18,436 18,870
Creditors: amounts falling due within one year 6 (47,261) (63,918)
Net current liabilities (28,825) (45,048)
Net liabilities (24,933) (39,525)
Capital and reserves
Called up share capital 8 8
Profit and loss account (24,941) (39,533)
Shareholders' funds (24,933) (39,525)
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.
Mr N A Moyler
Director
Approved by the board on 30 December 2024
Moyler & Son Ltd
Notes to the Accounts
for the year ended 29 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.
Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 30 March 2023 10,000
At 29 March 2024 10,000
Amortisation
At 30 March 2023 7,000
Provided during the year 1,000
At 29 March 2024 8,000
Net book value
At 29 March 2024 2,000
At 29 March 2023 3,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 30 March 2023 6,118 8,685 14,803
At 29 March 2024 6,118 8,685 14,803
Depreciation
At 30 March 2023 4,754 7,526 12,280
Charge for the year 341 290 631
At 29 March 2024 5,095 7,816 12,911
Net book value
At 29 March 2024 1,023 869 1,892
At 29 March 2023 1,364 1,159 2,523
5 Debtors 2024 2023
£ £
Other debtors 7,507 16,500
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 20,955 25,753
Other creditors 26,306 38,165
47,261 63,918
7 Other information
Moyler & Son Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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