General Information
Mozz Cycling 2008 Limited is a private company, limited by shares, registered in England and Wales, registration number 06288855, registration address Great Cefn-Y-Berin, Sam, Newtown, SY16 4EX.
| 1. |
Accounting Policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
33% Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Tangible fixed assets
| Cost |
Computer Equipment |
|
Total |
| |
£ |
|
£ |
| At 01 July 2017 |
8,098 |
|
8,098 |
| Additions |
1,622 |
|
1,622 |
| Disposals |
- |
|
- |
| At 30 June 2018 |
9,720 |
|
9,720 |
| Depreciation |
| At 01 July 2017 |
7,099 |
|
7,099 |
| Charge for year |
1,041 |
|
1,041 |
| On disposals |
- |
|
- |
| At 30 June 2018 |
8,140 |
|
8,140 |
| Net book values |
| Closing balance as at 30 June 2018 |
1,580 |
|
1,580 |
| Opening balance as at 01 July 2017 |
999 |
|
999 |
|
| 3. |
Stocks
|
2018
£ |
|
2017
£ |
| Stocks |
1,761 |
|
64 |
|
1,761 |
|
64 |
|
| 4. |
Debtors: amounts falling due within one year
|
2018
£ |
|
2017
£ |
| Amount Owed by Participating Interests |
110,429 |
|
108,088 |
| VAT |
13,027 |
|
13,327 |
|
123,456 |
|
121,415 |
|
| 5. |
Creditors: amount falling due within one year
|
2018
£ |
|
2017
£ |
| Trade Creditors |
86,804 |
|
90,442 |
| Corporation Tax |
2,189 |
|
3,963 |
| Accrued Expenses |
1,540 |
|
3,046 |
| Other Creditors |
- |
|
- |
| Directors' Current Accounts |
39,624 |
|
35,546 |
|
130,157 |
|
132,997 |
|
| 6. |
Share Capital
Allotted
|
2018
£ |
|
2017
£ |
|
1,000
Ordinary shares of £1.00 each |
1,000 |
|
1,000 |
|
1,000 |
|
1,000 |
|
| 7. |
Staff Costs
|
2018 |
|
2017 |
|
|
|
|
|
Average number of employees during the year
|
Number
|
|
Number
|
| Sales |
1 |
|
1 |
|
1 |
|
1 |
|
| 8. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value | | Balance owed by/(owed to) |
|---|
| 2018
£ | | 2017
£ | | 2018
£ | | 2017
£ |
|---|
| Mr C E Morris | 4,078 | | 11,281 | | (39,624) | | (35,546) | | Mozz Cycling Limited | 2,341 | | 8,554 | | 110,429 | | 108,088 | | Mozz Cycling Limited | 3,638 | | (16,629) | | (86,804) | | (90,442) |
|
| 9. |
Ultimate Controlling Party
The ultimate controlling party is Mr C Morris
|
3
|
