22 31/08/2024 2024-08-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-09-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 00700937 2023-09-01 2024-08-31 00700937 2024-08-31 00700937 2023-08-31 00700937 2022-09-01 2023-08-31 00700937 2023-08-31 00700937 2022-08-31 00700937 core:Subsidiary1 2023-09-01 2024-08-31 00700937 core:Subsidiary2 2023-09-01 2024-08-31 00700937 core:LandBuildings 2023-09-01 2024-08-31 00700937 core:PlantMachinery 2023-09-01 2024-08-31 00700937 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 00700937 core:MotorVehicles 2023-09-01 2024-08-31 00700937 bus:RegisteredOffice 2023-09-01 2024-08-31 00700937 bus:LeadAgentIfApplicable 2023-09-01 2024-08-31 00700937 bus:Director1 2023-09-01 2024-08-31 00700937 bus:Director2 2023-09-01 2024-08-31 00700937 bus:CompanySecretary1 2023-09-01 2024-08-31 00700937 core:LandBuildings 2023-08-31 00700937 core:PlantMachinery 2023-08-31 00700937 core:FurnitureFittingsToolsEquipment 2023-08-31 00700937 core:MotorVehicles 2023-08-31 00700937 core:LandBuildings 2024-08-31 00700937 core:PlantMachinery 2024-08-31 00700937 core:FurnitureFittingsToolsEquipment 2024-08-31 00700937 core:MotorVehicles 2024-08-31 00700937 core:WithinOneYear 2024-08-31 00700937 core:WithinOneYear 2023-08-31 00700937 core:LandBuildings 2023-08-31 00700937 core:PlantMachinery 2023-08-31 00700937 core:FurnitureFittingsToolsEquipment 2023-08-31 00700937 core:MotorVehicles 2023-08-31 00700937 core:AfterOneYear 2024-08-31 00700937 core:AfterOneYear 2023-08-31 00700937 core:ShareCapital 2024-08-31 00700937 core:ShareCapital 2023-08-31 00700937 core:SharePremium 2024-08-31 00700937 core:SharePremium 2023-08-31 00700937 core:RevaluationReserve 2024-08-31 00700937 core:RevaluationReserve 2023-08-31 00700937 core:RetainedEarningsAccumulatedLosses 2024-08-31 00700937 core:RetainedEarningsAccumulatedLosses 2023-08-31 00700937 core:BetweenOneFiveYears 2023-08-31 00700937 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 00700937 core:Non-currentFinancialInstruments 2024-08-31 00700937 core:Non-currentFinancialInstruments 2023-08-31 00700937 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-08-31 00700937 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-08-31 00700937 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-08-31 00700937 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-08-31 00700937 bus:Director1 2023-08-31 00700937 bus:Director1 2024-08-31 00700937 bus:Director2 2023-08-31 00700937 bus:Director2 2024-08-31 00700937 bus:Director1 2022-08-31 00700937 bus:Director1 2023-08-31 00700937 bus:Director2 2022-08-31 00700937 bus:Director2 2023-08-31 00700937 bus:Director1 2022-09-01 2023-08-31 00700937 bus:Director2 2022-09-01 2023-08-31 00700937 bus:SmallEntities 2023-09-01 2024-08-31 00700937 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 00700937 bus:FullAccounts 2023-09-01 2024-08-31 00700937 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 00700937 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 00700937 1 2023-09-01 2024-08-31
Company registration number: 00700937
L.A. MOORE LIMITED
Unaudited filleted financial statements
31 August 2024
L.A. MOORE LIMITED
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
L.A. MOORE LIMITED
Directors and other information
Directors Mr L A Moore
Mr P A Moore
Secretary Mrs P Schroeder
Company number 00700937
Registered office 68 West Street
Warminster
Wiltshire
BA12 8JW
Business address Old Railway Yard
Haybridge
Wells
Somerset
BA5 1AH
Accountants Robinson Miller
3 Newopaul Way
Warminster Business Park
Warminster
Wiltshire
BA12 8RY
Bankers National Westminster Bank Plc
7 High Street
Wells
Somerset
BA5 2AD
L.A. MOORE LIMITED
Statement of financial position
31st August 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 3 2,192,760 2,095,335
Investments 4 84,587 84,587
_______ _______
2,277,347 2,179,922
Current assets
Stocks 25,500 30,000
Debtors:
Amounts falling due within one year 5 225,028 208,891
Cash at bank and in hand 153,660 24,639
_______ _______
404,188 263,530
Creditors: amounts falling due
within one year 6 ( 383,208) ( 341,173)
_______ _______
Net current assets/(liabilities) 20,980 ( 77,643)
_______ _______
Total assets less current liabilities 2,298,327 2,102,279
Creditors: amounts falling due
after more than one year 7 ( 325,060) ( 344,159)
Provisions for liabilities ( 353,859) ( 267,825)
_______ _______
Net assets 1,619,408 1,490,295
_______ _______
Capital and reserves
Called up share capital 5,002 5,002
Share premium account 718 718
Revaluation reserve 131,602 147,222
Profit and loss account 1,482,086 1,337,353
_______ _______
Shareholders funds 1,619,408 1,490,295
_______ _______
For the year ending 31 August 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 12 December 2024 , and are signed on behalf of the board by:
Mr P A Moore
Director
Company registration number: 00700937
L.A. MOORE LIMITED
Notes to the financial statements
Year ended 31st August 2024
1. 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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 all 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Assets shown at a revalued amount had previously been revalued in 1989. The revaluations had not been updated since that date as the company was taking advantage of the transitional provisions as defined in the Financial Reporting Standard for Smaller Entities (effective January 2005). On transition to FRS 102 these historic revaluations are to be classifed as deemed cost.
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:
Land and Buildings - 4 % straight line
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.Government grants are recognised using the accrual model and the performance model.Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.The Government Grant in the accounts relates to the instalation of solar panels. The solar panels are being depreciated at 15% reducing balance and the grant is recognised on the same basis.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2023: 22 ).
3. Tangible assets
Freehold and leasehold properties Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost or valuation
At 1st September 2023 1,626,230 1,067,156 50,279 212,083 2,955,748
Additions - 55,000 - 20,745 75,745
Disposals - ( 55,925) - ( 27,945) ( 83,870)
Revaluation 140,000 - - - 140,000
_______ _______ _______ _______ _______
At 31st August 2024 1,766,230 1,066,231 50,279 204,883 3,087,623
_______ _______ _______ _______ _______
Depreciation
At 1st September 2023 62,525 620,246 42,294 135,348 860,413
Charge for the year 1,494 74,563 1,198 22,637 99,892
Disposals - ( 42,065) - ( 23,377) ( 65,442)
_______ _______ _______ _______ _______
At 31st August 2024 64,019 652,744 43,492 134,608 894,863
_______ _______ _______ _______ _______
Carrying amount
At 31st August 2024 1,702,211 413,487 6,787 70,275 2,192,760
_______ _______ _______ _______ _______
At 31st August 2023 1,563,705 446,910 7,985 76,735 2,095,335
_______ _______ _______ _______ _______
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold and leasehold properties Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
At 31st August 2024
Aggregate cost 566,230 1,066,231 50,279 204,883 1,887,623
Aggregate depreciation (65,585) (652,744) (43,492) (134,608) (896,429)
_______ _______ _______ _______ _______
Carrying amount 500,645 413,487 6,787 70,275 991,194
_______ _______ _______ _______ _______
At 31st August 2023
Aggregate cost 566,230 1,067,156 50,279 212,083 1,895,748
Aggregate depreciation (62,526) (620,246) (42,294) (135,348) (860,414)
_______ _______ _______ _______ _______
Carrying amount 503,704 446,910 7,985 76,735 1,035,334
_______ _______ _______ _______ _______
The investment properties are either let to third parties under operating leases, or are in the process of being refurbished with a view to being let. The investment properties were valued by the directors on the basis of open market value. The historical cost of the investment properties totals £450,653 (2023: £449,453). One property was reclassified as an investment property in the year, to reflect its current utilisation within the company.
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery Motor vehicles
£ £
At 31st August 2024 311,621 33,264
_______ _______
At 31st August 2023 321,137 22,100
_______ _______
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1st September 2023 and 31st August 2024 84,587 84,587
_______ _______
Impairment
At 1st September 2023 and 31st August 2024 - -
_______ _______
Carrying amount
At 31st August 2024 84,587 84,587
_______ _______
At 31st August 2023 84,587 84,587
_______ _______
Investments in group undertakings
Registered office Class of share Percentage of shares held
Subsidiary undertakings
Moore Energy (Wells) Limited 68 West Street, Warminster, Wiltshire, BA12 8JW Ordinary £1 shares 87
Haybridge Park Limited 68 West Street, Warminster, Wiltshire, BA12 8JW Ordinary £1 shares 100
5. Debtors
Debtors falling due within one year are as follows:
2024 2023
£ £
Trade debtors 28,619 33,429
Other debtors 196,409 175,462
_______ _______
225,028 208,891
_______ _______
Included in 'Other Debtors' above is £149,803 (2023: £122,583), in respect of amounts recoverable on long term contracts.
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 62,322 33,338
Trade creditors 145,652 155,579
Amounts owed to group undertakings and undertakings in which the company has a participating interest 602 602
Corporation tax 9,030 -
Social security and other taxes 12,523 9,556
Other creditors 153,079 142,098
_______ _______
383,208 341,173
_______ _______
Hire Purchase liabilities totalling £106,109 (2023:£91,716) are secured on the assets so acquired. Pension Scheme loans of £161,465 (2023:£138,120) and the bank overdraft facility are secured by fixed and floating charges over the assets of the company.An element of these liabilities are due within one year and the remainder greater than one year, as included within notes 7 and 8 to the financial statements.
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 325,060 344,159
_______ _______
Creditors due after more than one year relates to loans from the L A Moore Limited Executive Pension Scheme, hire purchase agreements, loans from members of the Moore family and a small deferred Government Grant.
8. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Later than 1 year and not later than 5 years - 30,000
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr L A Moore ( 61,689) 881 ( 60,808)
Mr P A Moore ( 51,793) 15,225 ( 36,568)
_______ _______ _______
( 113,482) 16,106 ( 97,376)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr L A Moore ( 62,406) 717 ( 61,689)
Mr P A Moore ( 32,036) ( 19,757) ( 51,793)
_______ _______ _______
( 94,442) ( 19,040) ( 113,482)
_______ _______ _______
The above amounts are owed to the directors. Interest is charged on the above loans at 3% pa.
10. Controlling party
The company is controlled by Peter Moore, a director of the company, who holds 51% of the issued A share capital of the company and 50% of the issued B shares .