Moof IT Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 11082827

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		198,000		264,000
Tangible Assets	5		24,488		28,085

			222,488		292,085
CURRENT ASSETS
Debtors	6	519,891		357,043
Cash at bank and in hand		1,064,981		858,482

		1,584,872		1,215,525
Creditors: Amounts Falling Due Within One Year	7	(1,740,553 )		(1,325,401 )

NET CURRENT ASSETS (LIABILITIES)			(155,681 )		(109,876 )

TOTAL ASSETS LESS CURRENT LIABILITIES			66,807		182,209

PROVISIONS FOR LIABILITIES
Deferred Taxation			(55,622 )		-

NET ASSETS			11,185		182,209

CAPITAL AND RESERVES
Called up share capital	8		100		100
Share premium account			100,000		100,000
Profit and Loss Account			(88,915 )		82,109

SHAREHOLDERS' FUNDS			11,185		182,209

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Moof IT Ltd

Balance Sheet (continued)

As At 31 December 2024

For the 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.

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

Mr David Acland Director	Mr Henry Capper Director	Mr James Bousfield Director
29/08/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Moof IT Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11082827 . The registered office is 1st Floor 20 Noel Street, London, England, W1F 8GW.

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. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. 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:

Leasehold	25% Straight Line Method
Plant & Machinery	25% Straight Line Method
Fixtures & Fittings	33.33% Straight Line Method
Computer Equipment	33.33% Straight Line Method

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Moof IT Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. 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. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

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. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Debtors

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.

2.9. Creditors

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.

2.10. Deferred taxation

Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

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Moof IT Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2024	2023
Office and administration	33	31

	33	31

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	660,000

As at 31 December 2024	660,000

Amortisation
As at 1 January 2024	396,000
Provided during the period	66,000

As at 31 December 2024	462,000

Net Book Value
As at 31 December 2024	198,000

As at 1 January 2024	264,000

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	43,114	2,380	4,497	147,901	197,892
Additions	-	-	-	21,127	21,127
Disposals	-	(1,552 )	-	(67,107 )	(68,659 )

As at 31 December 2024	43,114	828	4,497	101,921	150,360

Depreciation
As at 1 January 2024	43,114	2,380	2,355	121,958	169,807
Provided during the period	-	-	1,499	21,807	23,306
Disposals	-	(1,552 )	-	(65,689 )	(67,241 )

As at 31 December 2024	43,114	828	3,854	78,076	125,872

...CONTINUED

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Moof IT Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	-	-	643	23,845	24,488

As at 1 January 2024	-	-	2,142	25,943	28,085

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	460,745	324,476
Prepayments and accrued income	17,815	1,342

	478,560	325,818
Due after more than one year
Other debtors	41,331	31,225

	519,891	357,043

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	171,187	140,698
Bank loans and overdrafts	4,650	3,938
Corporation tax	303,908	346,886
Other taxes and social security	35,716	32,900
VAT	217,619	202,939
Pensions Payable- control account	9,013	2,250
Accruals and deferred income	978,460	595,790
Directors' loan accounts	20,000	-

	1,740,553	1,325,401

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

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