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Registration number: 14335354

Moonglow Trading Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Moonglow Trading Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Moonglow Trading Limited

Company Information

Directors

Mr J Edwards

Mr S Hall

Registered office

C/O Harrison Clark Rickerbys
Ellenborough House
Wellington Street
Cheltenham
GL50 1YD

Accountants

Harbour Key Limited
Midway House
Herrick Way
Staverton
Cheltenham
GL51 6TQ

 

Moonglow Trading Limited

(Registration number: 14335354)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

3

3

Current assets

 

Debtors

5

823,731

723,817

Cash at bank and in hand

 

3,238

6,341

 

826,969

730,158

Creditors: Amounts falling due within one year

6

(533,805)

(484,265)

Net current assets

 

293,164

245,893

Total assets less current liabilities

 

293,167

245,896

Creditors: Amounts falling due after more than one year

6

(373,791)

(269,323)

Net liabilities

 

(80,624)

(23,427)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(80,724)

(23,527)

Shareholders' deficit

 

(80,624)

(23,427)

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 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.

 

Moonglow Trading Limited

(Registration number: 14335354)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 

.........................................
Mr J Edwards
Director

.........................................
Mr S Hall
Director

 

Moonglow Trading Limited

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:
C/O Harrison Clark Rickerbys
Ellenborough House
Wellington Street
Cheltenham
GL50 1YD
United Kingdom

These financial statements were authorised for issue by the Board on 26 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.

The presentational currency of the financial statements is British Pound £, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are round to the nearest £.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Going concern

There is a net deficiency of assets of £80,624 at the balance sheet date, however the directors have confirmed their continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

Revenue recognition

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

 

Moonglow Trading Limited

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

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 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.

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.

 

Moonglow Trading Limited

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

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the Balance Sheet. The corresponding dividends relating to the liability component are charges as interest in the Profit and Loss Account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction value (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financial transaction. If an arrangement constitutes a financial transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market value of interest for a similar debt instrument.

 Impairment
Asset, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ("CGUs") of which the goodwill is a part. Any impairment in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

Moonglow Trading Limited

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

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investments

2024
£

2023
£

Investments in subsidiaries

3

3

Subsidiaries

£

Cost or valuation

At 1 October 2023

3

Carrying amount

At 30 September 2024

3

At 30 September 2023

3

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Moonglow Trading Limited

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

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

HC 1339 Limited

C/O Harrison Clark Rickerbys
Ellenborough House,
Wellington Street,
Cheltenham,
United Kingdom,
GL50 1YD

England and Wales

Ordinary

100%

100%

HC 1341 Limited

C/O Harrison Clark Rickerbys
Ellenborough House,
Wellington Street,
Cheltenham,
United Kingdom,
GL50 1YD

England and Wales

Ordinary

100%

100%

HC 1342 Limited

C/O Harrison Clark Rickerbys
Ellenborough House,
Wellington Street,
Cheltenham,
United Kingdom,
GL50 1YD

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

The principal activities of HC 1339 Limited and HC 1341 Limited are coffee shops. HC 1342 Limited is a dormant company.

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

798,408

723,309

Other debtors

8

25,323

508

   

823,731

723,817

 

Moonglow Trading Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

7

111,832

59,042

Trade creditors

 

3,017

6,412

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

1

1

Other creditors

8

418,955

418,810

 

533,805

484,265

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

373,791

269,323

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

373,791

269,323

Current loans and borrowings

2024
£

2023
£

Bank borrowings

111,832

59,042

The loan is secured by a fixed and floating charge over the assets of the company's subsidiaries.

8

Related party transactions

Transactions with the directors

The company owes the directors £417,320 (2023: £417,020) at the balance sheet date. There are no repayment terms or interest charged.

Summary of transactions with subsidiaries

The company is exempt from disclosing related party transactions with other companies that are wholly owned within the Group under section 33.1A of FRS 102.
 

 

Moonglow Trading Limited

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

Summary of transactions with other related parties

At the balance sheet date, the company was due £24,185 (2023: £Nil) to a company in which the directors are also directors and shareholders. There are no repayment terms or interest charged on the outstanding balance and the company is currently in liquidation.