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Registered number: 12204401
Mood Bears Limited
Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12204401
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 56 84
56 84
CURRENT ASSETS
Debtors 5 137,928 2,573
Cash at bank and in hand 60,376 277,579
198,304 280,152
Creditors: Amounts Falling Due Within One Year 6 (140,986 ) (217,743 )
NET CURRENT ASSETS (LIABILITIES) 57,318 62,409
TOTAL ASSETS LESS CURRENT LIABILITIES 57,374 62,493
Creditors: Amounts Falling Due After More Than One Year 7 (14,355 ) (17,128 )
NET ASSETS 43,019 45,365
CAPITAL AND RESERVES
Called up share capital 8 133 133
Share premium account 19,967 19,967
Profit and Loss Account 22,919 25,265
SHAREHOLDERS' FUNDS 43,019 45,365
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For the 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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs J C Proud
Director
26 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mood Bears Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12204401 . The registered office is 550 Valley Road, Nottingham, NG5 1JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33% Reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 October 2023 420
As at 30 September 2024 420
Depreciation
As at 1 October 2023 336
Provided during the period 28
As at 30 September 2024 364
Net Book Value
As at 30 September 2024 56
As at 1 October 2023 84
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 130,857 2,521
VAT 6,681 -
Other taxes and social security - 52
Amounts owed by group undertakings 390 -
137,928 2,573
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 24,765 80,341
Bank loans and overdrafts 2,842 2,842
Corporation tax - 10,319
Other taxes and social security 26 -
VAT - 35,936
Other creditors 86 62
Accruals and deferred income - 53,750
Directors' loan accounts 19,790 262
Amounts owed to group undertakings 93,477 34,231
140,986 217,743
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,355 17,128
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 133 133
9. Related Party Transactions
At the balance sheet date, the company owed the directors £19,790 (2023: £262). The amount is unsecured, interest free, with no fixed repayment date.
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