Company Registration No. 11886662 (England and Wales)
Move Ai Ltd
Unaudited accounts
for the year ended 31 December 2024
Move Ai Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
38,602
73,831
Cash at bank and in hand
431,887
1,531,084
Creditors: amounts falling due within one year
(436,569)
(221,242)
Net current assets
349,462
1,499,299
Net assets
388,064
1,573,130
Called up share capital
262
261
Share premium
5,962,739
5,952,155
Capital contribution reserve
2,672,381
2,278,285
Profit and loss account
(8,247,318)
(6,657,571)
Shareholders' funds
388,064
1,573,130
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by
Tino Millar
Director
Company Registration No. 11886662
Move Ai Ltd
Notes to the Accounts
for the year ended 31 December 2024
Move Ai Ltd is a private company, limited by shares, registered in England and Wales, registration number 11886662. The registered office is International House, 142 Cromwell Road, London, SW7 4EF.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Patent and licences
Domain names, being amounts paid in connection with the acquisition of domain names and brands in 2019, is being amortised evenly over its estimated useful life.
Registered trademarks, being amounts paid in connection with the registration of a trade mark are being amortised over useful life.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33.33%
Move Ai Ltd
Notes to the Accounts
for the year ended 31 December 2024
Taxation and Deferred tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Expenditure on research and development is written off in the year in which it is incurred.
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
4
Intangible fixed assets
Other
At 31 December 2024
25,074
At 31 December 2024
25,074
Move Ai Ltd
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
11,282
148,958
160,240
Disposals
-
(3,688)
(3,688)
At 31 December 2024
11,282
160,978
172,260
At 1 January 2024
3,134
83,275
86,409
Charge for the year
3,705
46,502
50,207
On disposals
-
(2,958)
(2,958)
At 31 December 2024
6,839
126,819
133,658
At 31 December 2024
4,443
34,159
38,602
At 31 December 2023
8,148
65,683
73,831
Amounts falling due within one year
Trade debtors
329,820
144,723
Accrued income and prepayments
7,824
9,965
Other debtors
16,500
16,500
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
35,504
13,982
Taxes and social security
27,022
52,206
Other creditors
7,204
4,177
Deferred income
349,855
147,596
8
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
66,000
Later than one year and not later than five years
-
16,500
Move Ai Ltd
Notes to the Accounts
for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 19 (2023: 23).