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Company No: 00645288 (England and Wales)

MOORE'S (HEMEL HEMPSTEAD) LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

MOORE'S (HEMEL HEMPSTEAD) LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

MOORE'S (HEMEL HEMPSTEAD) LTD

COMPANY INFORMATION

For the financial year ended 31 December 2024
MOORE'S (HEMEL HEMPSTEAD) LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
Directors C A Moore
J P Moore
Secretary J P Moore
Registered office The Garage
London Road
Hemel Hempstead
Hertfordshire
HP3 9SX
United Kingdom
Company number 00645288 (England and Wales)
Accountant Kreston Reeves LLP
2nd Floor
168 Shoreditch High Street
London
E1 6RA
MOORE'S (HEMEL HEMPSTEAD) LTD

BALANCE SHEET

As at 31 December 2024
MOORE'S (HEMEL HEMPSTEAD) LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 104,932 116,382
104,932 116,382
Current assets
Stocks 4 281,885 340,674
Debtors 5 2,057 9,780
Cash at bank and in hand 6 115,500 98,245
399,442 448,699
Creditors: amounts falling due within one year 7 ( 315,521) ( 347,343)
Net current assets 83,921 101,356
Total assets less current liabilities 188,853 217,738
Provision for liabilities ( 5,500) ( 12,333)
Net assets 183,353 205,405
Capital and reserves
Called-up share capital 8 7,000 7,000
Profit and loss account 176,353 198,405
Total shareholders' funds 183,353 205,405

For the financial 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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Moore's (Hemel Hempstead) Ltd (registered number: 00645288) were approved and authorised for issue by the Board of Directors on 10 April 2025. They were signed on its behalf by:

C A Moore
Director
MOORE'S (HEMEL HEMPSTEAD) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
MOORE'S (HEMEL HEMPSTEAD) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Moore's (Hemel Hempstead) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Garage, London Road, Hemel Hempstead, Hertfordshire, HP3 9SX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 10 years straight line
Vehicles 5 years straight line
Office equipment 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a
pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately
from the Company in independently administered funds.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 January 2024 98,461 136,129 10,190 3,858 248,638
Disposals 0 ( 5,619) 0 ( 3,641) ( 9,260)
At 31 December 2024 98,461 130,510 10,190 217 239,378
Accumulated depreciation
At 01 January 2024 22,162 102,500 3,736 3,858 132,256
Charge for the financial year 0 8,741 2,038 0 10,779
Disposals 0 ( 4,948) 0 ( 3,641) ( 8,589)
At 31 December 2024 22,162 106,293 5,774 217 134,446
Net book value
At 31 December 2024 76,299 24,217 4,416 0 104,932
At 31 December 2023 76,299 33,629 6,454 0 116,382

4. Stocks

2024 2023
£ £
Stocks 281,885 340,674

5. Debtors

2024 2023
£ £
Trade debtors 2,057 9,780

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 115,500 98,245

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 140,128 191,409
Amounts owed to directors 147,010 115,335
Accruals 3,200 3,940
Taxation and social security 23,035 26,313
Other creditors 2,148 10,346
315,521 347,343

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
7,000 Ordinary shares of £ 1.00 each 7,000 7,000

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the company to the fund and amounted to £67,299 (2023: £78,448). As at 31 December 2024 the company owed £Nil (2023: £Nil) to the pension scheme.

10. Related party transactions

During the year, the company paid rent to B Moore and G J Moore totalling £8,333 (2023: £8,333).

As at the year end the company owed £147,010 (2023: £115,335) to the directors.

11. Ultimate controlling party

The company is controlled by the directors C A Moore and J P Moore as they both control 50% of the issued share capital.