Company No: 07260970 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	1,457,949		1,635,263
		1,457,949		1,635,263
Current assets
Stocks		813,292		725,232
Debtors	5	1,408,091		1,130,082
Cash at bank and in hand		192,251		46,785
		2,413,634		1,902,099
Creditors: amounts falling due within one year	6	( 1,719,658)		( 1,495,017)
Net current assets		693,976		407,082
Total assets less current liabilities		2,151,925		2,042,345
Creditors: amounts falling due after more than one year	7	( 253,839)		( 533,090)
Provision for liabilities		( 285,000)		( 207,500)
Net assets		1,613,086		1,301,755
Capital and reserves
Called-up share capital	8	1,318		1,318
Share premium account		210,996		210,996
Other reserves		( 24,313 )		( 24,313 )
Profit and loss account		1,425,085		1,113,754
Total shareholders' funds		1,613,086		1,301,755

For the financial year ending 31 March 2025 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Moo Free Ltd (registered number: 07260970) were approved and authorised for issue by the Board of Directors on 10 December 2025. They were signed on its behalf by:

Mrs AK Jessop Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Moo Free Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and principal place of business is 3 Kingfisher Units, River Tamar Way, Holsworthy, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the status of the company and have concluded that the company is a going concern. During the year, the directors undertook a refinancing exercise with the overall aim to relieve cash pressures in the summer months when trade is at it lowest due to the seasonality of the business. The directors have prepared budgets and cashflow forecasts which indicate that the company has sufficient headroom in the available facilities for 12 months from the date of signing the accounts to meet working capital requirements. As a result, the directors consider it appropriate to prepare the accounts on a going concern basis.

Foreign currency

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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Revenue from the sale of goods is recognised when the Company has transferred to the buyer the significant risks and rewards of ownership of the goods and the Company does not hold any effective control over the goods sold. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Share-based payment

Equity-settled share-based payments are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of the number of shares that will eventually vest.

The fair value of share options is measured using the Black-Scholes model on the grounds there are no market relating vesting conditions.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	10 % reducing balance
Fixtures and fittings	25 % reducing balance
Other property, plant and equipment	10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, 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 the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. 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.

Financial instruments

Classification
The company holds the following financial instruments:

•Short term trade and other debtors and creditors;
•Bank loans; and
•Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Government grants

Government grants consist of income provided for the company's relocation and investment in factories and capital equipment. The company has elected to account for such grants under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised within profit or loss in the same period as the related expenditure.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	70		62

3. Intangible assets

	Development costs		Total
	£		£
Cost
At 01 April 2024	63,334		63,334
At 31 March 2025	63,334		63,334
Accumulated amortisation
At 01 April 2024	63,334		63,334
At 31 March 2025	63,334		63,334
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Fixtures and fittings		Other property, plant and equipment		Total
	£		£		£		£
Cost
At 01 April 2024	337,280		48,726		2,501,702		2,887,708
Additions	10,377		2,872		90,744		103,993
Disposals	0		0		( 238,170)		( 238,170)
At 31 March 2025	347,657		51,598		2,354,276		2,753,531
Accumulated depreciation
At 01 April 2024	157,754		34,817		1,059,874		1,252,445
Charge for the financial year	18,209		3,825		150,159		172,193
Disposals	0		0		( 129,056)		( 129,056)
At 31 March 2025	175,963		38,642		1,080,977		1,295,582
Net book value
At 31 March 2025	171,694		12,956		1,273,299		1,457,949
At 31 March 2024	179,526		13,909		1,441,828		1,635,263

5. Debtors

	2025		2024
	£		£
Trade debtors	1,297,753		1,076,780
Amounts owed by directors	2,489		0
Prepayments	107,649		53,302
Other debtors	200		0
	1,408,091		1,130,082

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured £ 19,216)	169,216		223,134
Trade creditors	607,324		586,481
Amounts owed to directors	0		6,637
Accruals and deferred income	81,186		90,126
Taxation and social security	501,271		310,279
Obligations under finance leases and hire purchase contracts	77,650		110,265
Other creditors	283,011		168,095
	1,719,658		1,495,017

Loans and borrowings include net obligations under finance lease and hire purchase contracts which are secured on the assets to which the agreements relate, and a CBILS loan.

Included in other creditors are amounts drawn down under an invoice finance facility secured on trade debtors amounting to £274,251 (2024 £161,920) .

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	137,500		363,231
Obligations under finance leases and hire purchase contracts (secured)	116,339		169,859
	253,839		533,090

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
102,800 Ordinary A shares of £ 0.01 each	1,028		1,028
1,000 Ordinary B shares of £ 0.01 each	10		10
10,000 Ordinary B400 shares of £ 0.01 each	100		100
16,000 Ordinary B500 shares of £ 0.01 each	160		160
200 Ordinary B510 shares of £ 0.01 each	2		2
1,000 Ordinary B600 shares of £ 0.01 each	10		10
800 Ordinary B50 shares of £ 0.01 each	8		8
	1,318		1,318

The A shareholders are entitled to attend general meetings of the company and are entitled to one vote for each A share held.

The B, B400, B500, B510, B600 and B50 shareholders have no such entitlement to attend or vote at general meetings unless there is a resolution to alter the articles of association, wind up the company or a resolution that modifies the rights, privileges limitations or restrictions attaching to these shares, in which case these shareholders have one vote for each share held.

On a return of assets, the A, B, B400, B500, B510, B600 and B50 shares rank pari passu in all respects and any dividend declared by the board is payable in respect of each class of shares.

During the year the company issued a further 8,050 Ordinary B shares of £0.01 each. These shares have not been called up.

9. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	202,491		237,586

The commitments relate to operating leases that are payable over the next 9 years. These financial commitments are not included in the balance sheet.