Mooncolony Limited 10355624 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is Provision Concept Art & Animation Digita Accounts Production Advanced 6.30.9574.0 true 10355624 2023-10-01 2024-09-30 10355624 2024-09-30 10355624 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-09-30 10355624 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2024-09-30 10355624 core:CurrentFinancialInstruments 2024-09-30 10355624 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 10355624 core:Non-currentFinancialInstruments 2024-09-30 10355624 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 10355624 core:MotorVehicles 2024-09-30 10355624 core:OfficeEquipment 2024-09-30 10355624 core:PlantMachinery 2024-09-30 10355624 core:OtherRelatedParties 2024-09-30 10355624 1 2024-09-30 10355624 bus:SmallEntities 2023-10-01 2024-09-30 10355624 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 10355624 bus:FilletedAccounts 2023-10-01 2024-09-30 10355624 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 10355624 bus:RegisteredOffice 2023-10-01 2024-09-30 10355624 bus:CompanySecretaryDirector1 2023-10-01 2024-09-30 10355624 bus:Director1 2023-10-01 2024-09-30 10355624 bus:Director3 2023-10-01 2024-09-30 10355624 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-10-01 2024-09-30 10355624 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-10-01 2024-09-30 10355624 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10355624 core:ComputerEquipment 2023-10-01 2024-09-30 10355624 core:MotorVehicles 2023-10-01 2024-09-30 10355624 core:OfficeEquipment 2023-10-01 2024-09-30 10355624 core:PlantMachinery 2023-10-01 2024-09-30 10355624 core:VehiclesPlantMachinery 2023-10-01 2024-09-30 10355624 core:OtherRelatedParties 2023-10-01 2024-09-30 10355624 core:OtherRelatedParties core:RenderingOrReceivingServices 2023-10-01 2024-09-30 10355624 core:OtherRelatedParties core:SettlementLiabilities 2023-10-01 2024-09-30 10355624 1 2023-10-01 2024-09-30 10355624 countries:EnglandWales 2023-10-01 2024-09-30 10355624 2023-09-30 10355624 core:MotorVehicles 2023-09-30 10355624 core:OfficeEquipment 2023-09-30 10355624 core:PlantMachinery 2023-09-30 10355624 core:OtherRelatedParties 2023-09-30 10355624 2022-10-01 2023-09-30 10355624 2023-09-30 10355624 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-09-30 10355624 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-09-30 10355624 core:CurrentFinancialInstruments 2023-09-30 10355624 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 10355624 core:Non-currentFinancialInstruments 2023-09-30 10355624 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 10355624 core:MotorVehicles 2023-09-30 10355624 core:OfficeEquipment 2023-09-30 10355624 core:PlantMachinery 2023-09-30 10355624 core:OtherRelatedParties 2023-09-30 10355624 1 2023-09-30 10355624 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-10-01 2023-09-30 10355624 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2022-10-01 2023-09-30 10355624 core:OtherRelatedParties 2022-10-01 2023-09-30 10355624 core:OtherRelatedParties core:RenderingOrReceivingServices 2022-10-01 2023-09-30 10355624 core:OtherRelatedParties core:SettlementLiabilities 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10355624

Mooncolony Limited

trading as Mooncolony

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Mooncolony Limited

trading as Mooncolony

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 12

 

Mooncolony Limited

trading as Mooncolony

Company Information

Directors

E Elmasli

D Trumble

D Elmasli

Company secretary

D Trumble

Registered office

Office 223
23 King Street
Cambridge
Cambridgeshire
CB1 1AH

Accountant

Mr David Trumble

 

Mooncolony Limited

trading as Mooncolony

(Registration number: 10355624)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31,119

49,395

Current assets

 

Stocks

5

168,062

74,702

Debtors

6

652,534

572,394

Cash at bank and in hand

 

131,474

145,522

 

952,070

792,618

Creditors: Amounts falling due within one year

7

(617,683)

(320,516)

Net current assets

 

334,387

472,102

Total assets less current liabilities

 

365,506

521,497

Creditors: Amounts falling due after more than one year

7

(7,800)

(137,955)

Net assets

 

357,706

383,542

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

357,606

383,442

Shareholders' funds

 

357,706

383,542

For the financial year ending 30 September 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 and 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 15 June 2025 and signed on its behalf by:
 

.........................................
E Elmasli
Director

 

Mooncolony Limited

trading as Mooncolony

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Office 223
23 King Street
Cambridge
Cambridgeshire
CB1 1AH
United Kingdom

The principal place of business is:
50-60 Station Road
Cambridge
Cambridgeshire
CB1 2JH
United Kingdom

These financial statements were authorised for issue by the Board on 15 June 2025.

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.

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.

 

Mooncolony Limited

trading as Mooncolony

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

Contract 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 contract revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
the control of the goods and services has been transferred to the customer;
fulfilment of all contractual obligations can be recognised;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates 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 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.

 

Mooncolony Limited

trading as Mooncolony

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

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

Motor vehicles

4 years reducing balance

IT Equipment

3 years straight line

Office equipment

2 years 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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs. 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.

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

 

Mooncolony Limited

trading as Mooncolony

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

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.

Provisions

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.

Derivative financial instruments and hedging

Derivatives
The derivatives are initially recognised at fair value, calculated by reference to current forward exchange contracts with similar maturity profiles and are subsequently remeasured to their fair value at each report date. The resulting gain or loss is recognised in the profit or loss account.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 16).

 

Mooncolony Limited

trading as Mooncolony

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

4

Tangible assets

IT Equipment
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

53,337

15,937

42,090

111,364

Additions

5,077

82

-

5,159

Disposals

(583)

(1,787)

-

(2,370)

At 30 September 2024

57,831

14,232

42,090

114,153

Depreciation

At 1 October 2023

31,774

11,287

18,908

61,969

Charge for the year

13,164

3,975

5,795

22,934

Eliminated on disposal

(324)

(1,545)

-

(1,869)

At 30 September 2024

44,614

13,717

24,703

83,034

Carrying amount

At 30 September 2024

13,217

515

17,387

31,119

At 30 September 2023

21,563

4,650

23,182

49,395

5

Stocks

2024
£

2023
£

Work in progress

168,062

74,702

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

353,403

289,123

Amounts owed by related parties

11

241,065

205,495

Prepayments

 

8,910

9,876

Other debtors

 

49,156

67,900

   

652,534

572,394

7

Creditors

Creditors: amounts falling due within one year

 

Mooncolony Limited

trading as Mooncolony

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

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

130,155

130,062

Trade creditors

 

144,141

134,930

Taxation and social security

 

27,283

18,559

Accruals and deferred income

 

115,724

33,153

Other creditors

 

200,380

3,812

 

617,683

320,516

 

Mooncolony Limited

trading as Mooncolony

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

Current loans and borrowings

2024
£

2023
£

Bank borrowings

7,800

7,800

Other borrowings

122,355

122,262

130,155

130,062

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

7,800

137,955

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares A of £1 each

76

76

76

76

Ordinary Shares B of £1 each

24

24

24

24

100

100

100

100

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,800

15,600

Other borrowings

-

122,355

7,800

137,955

Current loans and borrowings

2024
£

2023
£

Bank borrowings

7,800

7,800

Other borrowings

122,355

122,262

130,155

130,062

 

Mooncolony Limited

trading as Mooncolony

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

Bank borrowings

Barclays Bounce Back Loan is denominated in GBP with a nominal interest rate of 2.5%, and the final instalment is due on 17 September 2026. The carrying amount at year end is £15,600 (2023 - £23,400).

The Barclays bank loan is a government backed 'bounce back' loan, which was drawn down in September 2020.

Other borrowings

Funding Circle Loan is denominated in GBP with a nominal interest rate of 9.2%, and the final instalment is due on 23 August 2025. The carrying amount at year end is £122,355 (2023 - £244,617).

The Funding Circle loan was drawn down in September 2022.

The loan is secured by way of a joint personal guarantee of Emrah Elmasli and Damla Elmasli, directors.

10

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £440.79 (2023 - £328.95) per each Ordinary Shares A

33,500

25,000

Final dividend of £1,395.83 (2023 - £1,041.67) per each Ordinary Shares B

33,500

25,000

67,000

50,000

Interim dividends paid

2024
£

2023
£

Interim dividend of £92.11 (2023 - £164.47) per each Ordinary Shares A

7,000

12,500

Interim dividend of £291.67 (2023 - £520.83) per each Ordinary Shares B

7,000

12,500

14,000

25,000

Recommended final dividends paid and not recognised in the accounts

The directors are recommending the following final dividends:

£434.21 (2023 - £440.79) per each Ordinary Shares A share totalling £33,000.00 (2023 - £33,500.00)

£1,312.50 (2023 - £1,395.83) per each Ordinary Shares B share totalling £31,500.00 (2023 - £33,500.00)

These dividends have not been accrued in the balance sheet.

11

Related party transactions

 

Mooncolony Limited

trading as Mooncolony

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

153,457

111,286

Contributions paid to money purchase schemes

2,394

1,976

155,851

113,262

Provision of Private Health Care and Company Car

Dividends paid to directors

2024
£

2023
£

E Elmasli

Ordinary Shares Dividends

40,500

37,500

 

 

D Elmasli

Ordinary Dividends

40,500

37,500

 

 

Summary of transactions with other related parties

During the period, Mooncolony Limited entered into transactions with three entities under common control: MOONX - Management and investment company, Lunar Forge Entertainment Limited - An independent computer game developer and Lunar Academy - Online art school for digital artists and illustrators

During the year a loan from Funding Circle continued to be jointly guaranteed by Emrah Elmasli and Damla Elmasli, directors of the company.The maximum liability under this guarantee is £365,015. At the balance sheet date, the total amount outstanding on this loan was £122,355. No payment was made by the company to the director in respect of this guarantee.

Income and receivables from related parties

2024

Other related parties
£

Receipt of services

68,524

Settlement of liabilities

7,948

76,472

 

Mooncolony Limited

trading as Mooncolony

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

2023

Other related parties
£

Receipt of services

1,374

Settlement of liabilities

9,888

11,262

Expenditure with and payables to related parties

2024

Other related parties
£

Settlement of liabilities

1,320

2023

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

193,273

193,273

Advanced

192,867

192,867

Repaid

(194,643)

(194,643)

At end of period

191,497

191,497

2023

Other related parties
£

Total
£

Advanced

193,273

193,273

At end of period

193,273

193,273