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MORE CONVENIENT LIMITED

Registered Number
09103987
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

MORE CONVENIENT LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

SCOTT, Barbara

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

09103987 (England and Wales)
MORE CONVENIENT LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets319,67326,873
19,67326,873
Current assets
Stocks54,00064,205
Debtors4165,04671,963
Cash at bank and on hand17,94334,841
236,989171,009
Creditors amounts falling due within one year5(64,004)(20,725)
Net current assets (liabilities)172,985150,284
Total assets less current liabilities192,658177,157
Provisions for liabilities(3,738)(5,106)
Net assets188,920172,051
Capital and reserves
Called up share capital1010
Profit and loss account188,910172,041
Shareholders' funds188,920172,051
The financial statements were approved and authorised for issue by the Director on 22 May 2025, and are signed on its behalf by:
SCOTT, Barbara
Director
Registered Company No. 09103987
MORE CONVENIENT LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings25-
Office Equipment-33
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year66
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 2346,576
Additions296
At 31 August 2446,872
Depreciation and impairment
At 01 September 2319,704
Charge for year7,495
At 31 August 2427,199
Net book value
At 31 August 2419,673
At 31 August 2326,873
4.Debtors: amounts due within one year

2024

2023

££
Other debtors158,99465,400
Prepayments and accrued income6,0526,563
Total165,04671,963
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,182191
Taxation and social security9,9297,484
Other creditors47,1599,100
Accrued liabilities and deferred income1,7343,950
Total64,00420,725
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Related party transactions
During the period, total dividends of £nil (2023 : £30,000) were paid to the director. At the balance sheet date the company owed £47,032 (2023: £8,915) to the director which is an interest free loan with no fixed date for repayment. Related company transactions MGL Investments Limited- a related company under common control of the director During the year, the company provided an interest free loan of £158,964 (2023 : £64,749 ) to the related company. There is no fixed date for repayment. At the balance sheet date, the entire balance was outstanding.