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Registration number: 02402975

Moor Storage Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Moor Storage Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Moor Storage Limited

Company Information

Directors

Mr R Plant

Mr G Plant

Mr M W Plant

Mrs P L Plant

Company secretary

Mr M W Plant

Registered office

Level 2
Cranham House
136 High Street
Stourbridge
DY8 4BU

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Moor Storage Limited

(Registration number: 02402975)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

23,811

46,487

Current assets

 

Stocks

5

11,404

45,031

Debtors

6

101,822

166,105

Cash at bank and in hand

 

64

9,625

 

113,290

220,761

Creditors: Amounts falling due within one year

7

(202,057)

(232,758)

Net current liabilities

 

(88,767)

(11,997)

Total assets less current liabilities

 

(64,956)

34,490

Creditors: Amounts falling due after more than one year

7

(8,380)

(18,379)

Provisions for liabilities

(1,703)

(4,650)

Net (liabilities)/assets

 

(75,039)

11,461

Capital and reserves

 

Called up share capital

103

103

Retained earnings

(75,142)

11,358

Shareholders' (deficit)/funds

 

(75,039)

11,461

For the financial 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 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.

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 Profit and Loss Account.

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 

 

Moor Storage Limited

(Registration number: 02402975)
Balance Sheet as at 31 August 2024

.........................................
Mr M W Plant
Company secretary and director

   
     
 

Moor Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Level 2
Cranham House
136 High Street
Stourbridge
DY8 4BU

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 Balance Sheet shows a net liability however as the company has the full support of the director and shareholders and forecasts positive future revenue the accounts have been prepared on a going concern basis.

Revenue recognition

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

Tax

The tax expense for the period comprises current and 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.

 

Moor Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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 balance sheet 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

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33.33% straight line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Moor Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 6 (2023 - 6).

 

Moor Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

184,244

74,765

259,009

Additions

3,985

-

3,985

Disposals

(16,385)

(53,653)

(70,038)

At 31 August 2024

171,844

21,112

192,956

Depreciation

At 1 September 2023

163,640

48,882

212,522

Charge for the year

4,281

2,226

6,507

Eliminated on disposal

(13,208)

(36,676)

(49,884)

At 31 August 2024

154,713

14,432

169,145

Carrying amount

At 31 August 2024

17,131

6,680

23,811

At 31 August 2023

20,604

25,883

46,487

5

Stocks

2024
£

2023
£

Work in progress

6,332

27,392

Other inventories

5,072

17,639

11,404

45,031

6

Debtors

Current

2024
£

2023
£

Trade debtors

70,592

154,140

Prepayments

13,020

9,865

Other debtors

18,210

2,100

 

101,822

166,105

 

Moor Storage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

38,591

10,000

Trade creditors

 

137,810

150,714

Taxation and social security

 

8,938

40,688

Accruals and deferred income

 

6,773

4,125

Other creditors

 

9,945

27,231

 

202,057

232,758

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

8,380

18,379

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,380

18,379

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,999

10,000

Bank overdrafts

28,592

-

38,591

10,000