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Moore Estates Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

Registration number: 06041395

 

Moore Estates Holdings Limited

Contents

Statement of financial position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Moore Estates Holdings Limited

(Registration number: 06041395)
Statement of financial position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

30,433

47,033

Tangible assets

5

33,245

45,215

 

63,678

92,248

Current assets

 

Debtors

6

9,809

81,660

Cash at bank and in hand

 

154

17,038

 

9,963

98,698

Creditors: Amounts falling due within one year

7

(232,954)

(188,191)

Net current liabilities

 

(222,991)

(89,493)

Total assets less current liabilities

 

(159,313)

2,755

Creditors: Amounts falling due after more than one year

7

(25,031)

(106,857)

Provisions for liabilities

(122)

(783)

Net liabilities

 

(184,466)

(104,885)

Capital and reserves

 

Called up share capital

8

102

102

Retained earnings

(184,568)

(104,987)

Shareholders' deficit

 

(184,466)

(104,885)

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Moore Estates Holdings Limited

(Registration number: 06041395)
Statement of financial position as at 30 June 2024

These financial statements have 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.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

.........................................
Mr N Moore
Director

 

Moore Estates Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
The Old Stables
17 High Street
Storrington
West Sussex
RH20 4DR

These financial statements were authorised for issue by the Board on 24 October 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.

Going concern

The financial statements have been prepared on a going concern basis.

The directors and shareholders have expressed a willingness to support the working cashflow requirements over the ensuing year.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

Moore Estates Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises 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.

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 statement of financial position 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

Furniture, fittings and equipment

20% straight line

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over the economic life of the asset

 

Moore Estates Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 20).

 

Moore Estates Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

232,405

232,405

At 30 June 2024

232,405

232,405

Amortisation

At 1 July 2023

185,372

185,372

Amortisation charge

16,600

16,600

At 30 June 2024

201,972

201,972

Carrying amount

At 30 June 2024

30,433

30,433

At 30 June 2023

47,033

47,033

 

Moore Estates Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

62,928

42,638

105,566

At 30 June 2024

62,928

42,638

105,566

Depreciation

At 1 July 2023

56,798

3,553

60,351

Charge for the year

2,199

9,771

11,970

At 30 June 2024

58,997

13,324

72,321

Carrying amount

At 30 June 2024

3,931

29,314

33,245

At 30 June 2023

6,130

39,085

45,215

6

Debtors

Current

2024
£

2023
£

Trade debtors

4,478

6,074

Other debtors

5,331

75,586

 

9,809

81,660

 

Moore Estates Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

99,107

141,317

Trade creditors

 

18,478

19,372

Taxation and social security

 

19,841

16,574

Accruals and deferred income

 

10,948

9,554

Other creditors

 

84,580

1,374

 

232,954

188,191

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

25,031

106,857

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

102

102

102

102

       
 

Moore Estates Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Repayments by director
£

At 30 June 2024
£

Mr N Moore

2.25% interest payable annually on the loan which has no fixed term of repayment

35,127

(35,127)

-

Mrs C Moore

2.25% interest payable annually on the loan which has no fixed term of repayment

35,127

(35,127)

-

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

Mr N Moore

2.25% interest payable annually on the loan which has no fixed term of repayment

-

35,127

35,127

Mrs C Moore

2.25% interest payable annually on the loan which has no fixed term of repayment

-

35,127

35,127