Movidiam Ltd 31/03/2020 iXBRL

31/03/2020 2020-03-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2019-04-01 Sage Accounts Production 20.0 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 08853741 2019-04-01 2020-03-31 08853741 2020-03-31 08853741 2019-03-31 08853741 2018-04-01 2019-03-31 08853741 2019-03-31 08853741 2018-03-31 08853741 core:IntangibleAssetsOtherThanGoodwill 2019-04-01 2020-03-31 08853741 core:FurnitureFittingsToolsEquipment 2019-04-01 2020-03-31 08853741 core:OnerousContractsExcludingVacantProperties 2019-04-01 2020-03-31 08853741 bus:RegisteredOffice 2019-04-01 2020-03-31 08853741 bus:LeadAgentIfApplicable 2019-04-01 2020-03-31 08853741 bus:Agent1 2019-04-01 2020-03-31 08853741 bus:Director1 2019-04-01 2020-03-31 08853741 bus:Director2 2019-04-01 2020-03-31 08853741 core:IntangibleAssetsOtherThanGoodwill 2019-03-31 08853741 core:IntangibleAssetsOtherThanGoodwill 2020-03-31 08853741 core:LandBuildings core:ShortLeaseholdAssets 2019-03-31 08853741 core:FurnitureFittingsToolsEquipment 2019-03-31 08853741 core:LandBuildings core:ShortLeaseholdAssets 2020-03-31 08853741 core:FurnitureFittingsToolsEquipment 2020-03-31 08853741 core:WithinOneYear 2020-03-31 08853741 core:WithinOneYear 2019-03-31 08853741 core:AfterOneYear 2020-03-31 08853741 core:AfterOneYear 2019-03-31 08853741 core:ShareCapital 2020-03-31 08853741 core:ShareCapital 2019-03-31 08853741 core:SharePremium 2020-03-31 08853741 core:SharePremium 2019-03-31 08853741 core:RetainedEarningsAccumulatedLosses 2020-03-31 08853741 core:RetainedEarningsAccumulatedLosses 2019-03-31 08853741 core:LandBuildings core:ShortLeaseholdAssets 2019-04-01 2020-03-31 08853741 core:IntangibleAssetsOtherThanGoodwill 2019-03-31 08853741 core:LandBuildings core:ShortLeaseholdAssets 2019-03-31 08853741 core:FurnitureFittingsToolsEquipment 2019-03-31 08853741 bus:Director1 2019-03-31 08853741 bus:Director1 2020-03-31 08853741 bus:Director2 2019-03-31 08853741 bus:Director1 2018-03-31 08853741 bus:Director1 2019-03-31 08853741 bus:Director2 2018-03-31 08853741 bus:Director2 2019-03-31 08853741 bus:Director1 2018-04-01 2019-03-31 08853741 bus:Director2 2018-04-01 2019-03-31 08853741 bus:SmallEntities 2019-04-01 2020-03-31 08853741 bus:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 08853741 bus:FullAccounts 2019-04-01 2020-03-31 08853741 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 08853741 bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31

Company registration number: 08853741

Movidiam Ltd

Unaudited filleted financial statements

31 March 2020

Movidiam Ltd

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Movidiam Ltd

Directors and other information


	Directors	Mr G W Olver
		Mr A J S Vero


	Company number	08853741


	Registered office	43 Overstone Road
		London
		W6 0AD


	Business address	The Foundry
		77 Fulham Palace Road
		London
		W6 8JA


	Accountants	Figuretalk Limited
		The Atrium, 4th Floor
		1 Harefield Road
		Uxbridge
		Middlesex
		UB8 1EX




	Bankers	Metro Bank
		One Southampton Row
		London
		WC1B 5HA

		HSBC Plc
		593 - 599 Fulham Road
		Fulham
		London
		SW6 5UA

Movidiam Ltd

Statement of financial position

31 March 2020

		2020		2019
	Note	£	£	£	£

Fixed assets
Intangible assets	5	4,365		5,165
Tangible assets	6	1,328		6,202
		_______		_______
			5,693		11,367

Current assets
Debtors	7	129,357		197,510
Cash at bank and in hand		150,345		19,753
		_______		_______
		279,702		217,263
Creditors: amounts falling due
within one year	8	( 22,301)		( 127,934)
		_______		_______
Net current assets			257,401		89,329
			_______		_______
Total assets less current liabilities			263,094		100,696

Creditors: amounts falling due
after more than one year	9		( 50,000)		( 50,000)
			_______		_______
Net assets			213,094		50,696
			_______		_______

Capital and reserves
Called up share capital			159		156
Share premium account			3,446,931		3,019,353
Profit and loss account			( 3,233,996)		( 2,968,813)
			_______		_______
Shareholders funds			213,094		50,696
			_______		_______

For the year ending 31 March 2020 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with 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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 27 July 2020 , and are signed on behalf of the board by:

Mr G W Olver Mr A J S Vero

Director Director

Company registration number: 08853741

Movidiam Ltd

Notes to the financial statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 43 Overstone Road, London, W6 0AD.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, '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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation

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


Intangible assets	-	10 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

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


Short leasehold property	-	Straight line obver the life of the lease
Fittings fixtures and equipment	-	25 %	straight line
Computer equipment	-	33.3 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 in finance costs 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 4 (2019: 6 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 April 2019 and 31 March 2020	8,004	8,004
	_______	_______
Amortisation
At 1 April 2019	2,839	2,839
Charge for the year	800	800
	_______	_______
At 31 March 2020	3,639	3,639
	_______	_______
Carrying amount
At 31 March 2020	4,365	4,365
	_______	_______
At 31 March 2019	5,165	5,165
	_______	_______

6. Tangible assets

	Short leasehold property	Fixtures, fittings and equipment	Computer equipment	Total
	£	£	£	£
Cost
At 1 April 2019	1,500	3,527	18,509	23,536
Additions	-	-	934	934
	_______	_______	_______	_______
At 31 March 2020	1,500	3,527	19,443	24,470
	_______	_______	_______	_______
Depreciation
At 1 April 2019	1,499	2,926	12,909	17,334
Charge for the year	-	301	5,507	5,808
	_______	_______	_______	_______
At 31 March 2020	1,499	3,227	18,416	23,142
	_______	_______	_______	_______
Carrying amount
At 31 March 2020	1	300	1,027	1,328
	_______	_______	_______	_______
At 31 March 2019	1	601	5,600	6,202
	_______	_______	_______	_______

7. Debtors

	2020	2019
	£	£
Trade debtors	10,243	62,563
Other debtors	119,114	134,947
	_______	_______
	129,357	197,510
	_______	_______

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	-	33
Trade creditors	11,846	29,467
Social security and other taxes	4,453	17,827
Other creditors	6,002	80,607
	_______	_______
	22,301	127,934
	_______	_______

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

	2020	2019
	£	£
Other creditors	50,000	50,000
	_______	_______

10. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2020
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr G W Olver	( 2,257)	( 40)	2,257	( 40)
	Mr A J S Vero	( 65,328)	-	65,328	-
		_______	_______	_______	_______
		( 67,585)	( 40)	67,585	( 40)
		_______	_______	_______	_______

2019
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr G W Olver	34,757	( 2,257)	( 34,757)	( 2,257)
	Mr A J S Vero	32,935	( 65,328)	( 32,935)	( 65,328)
		_______	_______	_______	_______
		67,692	( 67,585)	( 67,692)	( 67,585)
		_______	_______	_______	_______

11. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2020	2019	2020	2019
	£	£	£	£
Pendragon Productions Ltd	1,400	28,630	75,878	77,558
	_______	_______	_______	_______

During the period, Pendragon Productions Ltd supplied management fees, consultancy services and rechargable expenses to Movidiam Ltd to the value of £1,400 (2019: £4,167).At the balance sheet date, the company holds a convertible loan note to the value of £50,000 to Pendragon Productions Ltd. This will be exchanged for 26,316 ordinary shares.The companies are related by virtue of common management and control.

12. Going Concern

The accounts have been prepared on the assumption that there is continuing financial support from the director and shareholders, and that the creditors will not withdraw their facilities in the foreseeable future.