Moonway Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04115565

Moonway Services Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2026

Moonway Services Limited

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5		854,573		764,937

Current assets

Stocks		24,398	20,695
Debtors	6	150,956	177,116
Cash at bank and in hand		11,769	21,435
		---------	---------
		187,123	219,246

Creditors: amounts falling due within one year	7	309,433		335,486
		---------		---------
Net current liabilities			122,310		116,240
			---------		---------
Total assets less current liabilities			732,263		648,697

Creditors: amounts falling due after more than one year	8		424,136		357,354

Provisions

Taxation including deferred tax	89,121	93,582
	---------	---------
Net assets	219,006	197,761
	---------	---------

Capital and reserves

Called up share capital	9	92,248	92,248
Profit and loss account		126,758	105,513
		---------	---------
Shareholders funds		219,006	197,761
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

Moonway Services Limited

Statement of Financial Position (continued)

31 March 2026

For the year ending 31 March 2026 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 12 August 2026 , and are signed on behalf of the board by:

Mr S Baker

Director

Company registration number: 04115565

Moonway Services Limited

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Emporium, Bow Street, Langport, Somerset, TA10 9PQ. The trading address is 8 Buckland Road, Yeovil, Somerset BA21 5EA.

2. Statement of compliance

These financial statements have been prepared in accordance with FRS 102 taking advantage of the disclosure exemptions of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the year end the company had net current liabilities of £116,240 and is therefore dependent on the continuing financial support of the bank and the directors to continue trading. There has been no indication from either that this support will not continue for the foreseeable future and the company is meeting its day to day liabilities as they fall due. The directors have taken several steps to mitigate the effects on profitability and cashflow and will continue to monitor them closely. At present the directors consider the company to be financially stable. The directors are therefore satisfied that the company is able to adopt the going concern basis for preparing its financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25% reducing balance
Coaches and Minibuses	-	10%/25% reducing balance basis
Equipment	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2025: 13 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2025	5,004	1,117,445	13,416	1,135,865
Additions	585	243,000	2,220	245,805
Disposals	( 1,788)	( 160,295)	( 5,296)	( 167,379)
	-------	------------	--------	------------
At 31 March 2026	3,801	1,200,150	10,340	1,214,291
	-------	------------	--------	------------
Depreciation
At 1 April 2025	4,003	361,388	5,537	370,928
Charge for the year	394	94,107	1,135	95,636
Disposals	( 1,778)	( 102,299)	( 2,769)	( 106,846)
	-------	------------	--------	------------
At 31 March 2026	2,619	353,196	3,903	359,718
	-------	------------	--------	------------
Carrying amount
At 31 March 2026	1,182	846,954	6,437	854,573
	-------	------------	--------	------------
At 31 March 2025	1,001	756,057	7,879	764,937
	-------	------------	--------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 March 2026	644,517
	---------
At 31 March 2025	720,890
	---------

6. Debtors

	2026	2025
	£	£
Trade debtors	99,752	93,623
Other debtors	51,204	83,493
	---------	---------
	150,956	177,116
	---------	---------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	20,231	8,361
Trade creditors	23,518	32,311
Social security and other taxes	9,323	15,306
Other creditors	256,361	279,508
	---------	---------
	309,433	335,486
	---------	---------

The bank loan and overdraft are secured by a debenture dated 29 April 2003 over the assets and books debts of the company.

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

	2026	2025
	£	£
Bank loans and overdrafts	41,756	28,249
Other creditors	382,380	329,105
	---------	---------
	424,136	357,354
	---------	---------

The bank loan and overdraft are secured by a debenture dated 29 April 2003 over the assets and books debts of the company.

9. Called up share capital

Issued, called up and fully paid

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 1 each	92,100	92,100	92,100	92,100
Ordinary Class 2 shares of £ 1 each	148	148	148	148
	--------	--------	--------	--------
	92,248	92,248	92,248	92,248
	--------	--------	--------	--------