Company Registration No. 07456948 (England and Wales)
MOORE NORTHERN HOME COUNTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
MOORE NORTHERN HOME COUNTIES LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
MOORE NORTHERN HOME COUNTIES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
375,000
Property, plant and equipment
5
159,900
32,843
Investments
6
100,049
100,049
634,949
132,892
Current assets
Trade and other receivables
7
1,092,271
1,041,952
Cash and cash equivalents
604,020
337,589
1,696,291
1,379,541
Current liabilities
8
(1,419,145)
(878,333)
Net current assets
277,146
501,208
Total assets less current liabilities
912,095
634,100
Non-current liabilities
9
(182,850)
(235,000)
Provisions for liabilities
(39,975)
Net assets
689,270
399,100
Equity
Called up share capital
180
180
Capital redemption reserve
260
260
Retained earnings
688,830
398,660
Total equity
689,270
399,100
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MOORE NORTHERN HOME COUNTIES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
F Corbishley
Director
Company Registration No. 07456948
MOORE NORTHERN HOME COUNTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Moore Northern Home Counties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Nicholas House, River Front, Enfield, Middlesex, EN1 3FG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet 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 foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Revenue
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Leasehold improvements
20% straight line
Fixtures, fittings & equipment
25% straight line
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Investments
Fixed asset investments are stated at cost less provision for dimunition in value.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.8
Deferred tax
The tax expense represents the sum of the tax currently payable and deferred tax.
MOORE NORTHERN HOME COUNTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
47
43
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023
195,349
Additions
375,000
At 30 April 2024
570,349
Amortisation and impairment
At 1 May 2023 and 30 April 2024
195,349
Carrying amount
At 30 April 2024
375,000
At 30 April 2023
MOORE NORTHERN HOME COUNTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
5
Property, plant and equipment
Land and buildings
Fixtures, fittings and equipment
Total
£
£
£
Cost
At 1 May 2023
170,241
170,241
Additions
62,689
97,487
160,176
Disposals
(26,237)
(26,237)
At 30 April 2024
62,689
241,491
304,180
Depreciation and impairment
At 1 May 2023
137,398
137,398
Depreciation charged in the year
13,442
13,442
Eliminated in respect of disposals
(6,560)
(6,560)
At 30 April 2024
144,280
144,280
Carrying amount
At 30 April 2024
62,689
97,211
159,900
At 30 April 2023
32,843
32,843
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100,049
100,049
The company holds 100% of the share capital of Moore NHC Trust Corporation Limited, a company incorporated in England and Wales. Moore NHC Trust Corporation Limited is currently not trading and therefore the results of the company have not been disclosed as they are not considered to be material.
The company holds 49% of the share capital in Moore NHC Audit Limited. As at 30 April 2024 the net assets of this company were £74,541 (2023: £117,088).
7
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
1,024,850
980,780
Amounts owed by group undertakings
485
Other receivables
66,936
61,172
1,092,271
1,041,952
MOORE NORTHERN HOME COUNTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
8
Current liabilities
2024
2023
£
£
Trade payables
107,209
57,955
Amounts due to group undertakings
100,000
110,016
Corporation tax
162,508
166,292
Taxation and social security
96,127
112,569
Other payables
953,301
431,501
1,419,145
878,333
9
Non-current liabilities
2024
2023
£
£
Other payables
182,850
235,000
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
314,000
49,000