Registration number:
Moon & Sixpence Limited
Pages for filing with the Registrar
for the Year Ended 31 December 2024
Moon & Sixpence Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Moon & Sixpence Limited
Company Information
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Directors |
Mr P J Little Mr J W Little |
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Company secretary |
Mr J W Little |
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Registered office |
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Accountants |
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Moon & Sixpence Limited
for the Year Ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Moon & Sixpence Limited for the year ended 31 December 2024 as set out on pages 3 to 13 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of Moon & Sixpence Limited, as a body, in accordance with the terms of our engagement letter dated 23 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Moon & Sixpence Limited and state those matters that we have agreed to state to the Board of Directors of Moon & Sixpence Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moon & Sixpence Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Moon & Sixpence Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Moon & Sixpence Limited. You consider that Moon & Sixpence Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Moon & Sixpence Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Certified Accountants
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT
Moon & Sixpence Limited
(Registration number: 02685288)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Other financial assets |
402,095 |
402,095 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities (deferred taxation) |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Moon & Sixpence Limited
(Registration number: 02685288)
Balance Sheet as at 31 December 2024
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Moon & Sixpence Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Called up share capital |
Profit and loss account |
Total equity |
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At 1 January 2024 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
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At 31 December 2024 |
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Called up share capital |
Profit and loss account |
Total equity |
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At 1 January 2023 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 December 2023 |
1,000 |
3,843,801 |
3,844,801 |
Moon & Sixpence Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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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 financial statements are prepared in £ sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Revenue recognition
Turnover represents the value, net of value added tax and discounts, of sales of new and used caravans and related accessories and site licences and maintenance charges.
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.
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.
Moon & Sixpence Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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 corporation 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.
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:
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Asset class |
Depreciation method and rate |
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Freehold buildings |
write off costs over a 25 year period |
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Services and utilities |
write off costs over a 25 year period |
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Equipment, plant and fixtures |
15% on a reducing balance basis |
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Motor vehicles |
25% on a reducing balance basis |
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Freehold land |
no depreciation is provided |
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss under an investment property fair value reserve.
Any associated deferred tax movement is also recognised in this investment property fair value reserve.
The investment property fair value reserve forms part of the general reserve but any surpluses shown here are not distributable.
Moon & Sixpence Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.
The fixed asset investments relate to an investment made by the company since the 2010 accounting year in a classic motor vehicle.
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
Stock relates to the value of holiday homes and other items held by the company and is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling 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.
Moon & Sixpence Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.
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.
Moon & Sixpence Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the profit and loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Moon & Sixpence Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Freehold land and buildings |
Services & utilities |
Motor vehicles |
Equipment, plant & fixtures |
Total |
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Cost |
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At 1 January 2024 |
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Additions |
- |
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Disposals |
- |
- |
( |
( |
( |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
( |
( |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Included within the net book value of freehold land and buildings above is freehold land with a cost value of £1,256,519 (2023 £1,256,519) which is not depreciated.
Moon & Sixpence Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Investment properties |
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2024 |
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At 1 January |
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At 31 December |
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The investment properties were valued at the 31st December 2024 by the directors and therefore the valuation is an internal one. The basis of the valuation was on an open market basis. The investment properties have a current value of £243,180 (2023 £243,180) and a carrying amount at historical cost of £243,180 (2023 £243,180).
There has been no valuation of investment property by an independent valuer.
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Other financial assets (current and non-current) |
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Other investments |
Total |
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Non-current financial assets |
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Cost |
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At 1 January 2024 |
402,095 |
402,095 |
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At 31 December 2024 |
402,095 |
402,095 |
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Impairment |
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Carrying amount |
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At 31 December 2024 |
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402,095 |
This asset relates to an investment the company has made in a classic motor vehicle.
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Stocks |
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2024 |
2023 |
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Other inventories |
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Moon & Sixpence Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Debtors |
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2024 |
2023 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Reserves |
The profit and loss reserves of the company are fully distributable.
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Dividends |
Interim dividends paid
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2024 |
2023 |
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Interim dividend of £ |
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- |
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Related party transactions |
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Other transactions with directors |
During the course of the year the director, P J Little, advanced total funds to the company of £411,050 in order to assist the company with the payment of various liabilities.
The company repaid this amount of £411,050 in full to the director.
There are no amounts owing to or by the company in respect of this at the year end (2023 £nil)