Moving Beans Limited - Accounts to registrar (filleted) - small 18.2

Moving Beans Limited - Accounts to registrar (filleted) - small 18.2

MOVING BEANS LIMITED - Company Information

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REGISTERED NUMBER: 10639141 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021

FOR

MOVING BEANS LIMITED
MOVING BEANS LIMITED (REGISTERED NUMBER: 10639141)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOVING BEANS LIMITED


COMPANY INFORMATION
for the Year Ended 28 February 2021







DIRECTORS: M Dohler
Dr G Guilera
D J Hardej
J R Price





REGISTERED OFFICE: 10 London Mews
London
W2 1HY





REGISTERED NUMBER: 10639141 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
London
W2 1HY
Page 1
MOVING BEANS LIMITED (REGISTERED NUMBER: 10639141)


BALANCE SHEET
28 February 2021

28.2.21 29.2.20
Notes £    £   
CURRENT ASSETS
Stocks 28,968 20,533
Debtors 4 28,002 36,081
Investments 5 62 62
Cash at bank 262,279 38,455
319,311 95,131
CREDITORS
Amounts falling due within one year 6 50,903 6,277
NET CURRENT ASSETS 268,408 88,854
TOTAL ASSETS LESS CURRENT
LIABILITIES
268,408
88,854

CREDITORS
Amounts falling due after more than one
year
7
27,500
16,802
NET ASSETS 240,908 72,052

CAPITAL AND RESERVES
Called up share capital 8 11,226 10,000
Share premium 478,754 198,000
Retained earnings (249,072 ) (135,948 )
SHAREHOLDERS' FUNDS 240,908 72,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
MOVING BEANS LIMITED (REGISTERED NUMBER: 10639141)


BALANCE SHEET - continued
28 February 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2021 and were signed on its behalf by:





M Dohler - Director


The notes form part of these financial statements

Page 3
MOVING BEANS LIMITED (REGISTERED NUMBER: 10639141)


NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2021

1. STATUTORY INFORMATION

Moving Beans Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
After reviewing the company's forecasts and projections, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

However due to the uncertainty surrounding the Covid-19 virus at the time of approval of these accounts the directors believes it is difficult to establish the long term impact this may have on the business..

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sale of goods, excluding value added tax.

Rendering of services

Sales are recognised once the customer has agreed to purchase the goods and payment is taken.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4 continued...
MOVING BEANS LIMITED (REGISTERED NUMBER: 10639141)


NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2021

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.21 29.2.20
£    £   
Other debtors 28,002 36,081

5. CURRENT ASSET INVESTMENTS
28.2.21 29.2.20
£    £   
Shares in group undertakings 62 62

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.21 29.2.20
£    £   
Bank loans and overdrafts 2,500 2,400
Trade creditors 10,278 -
Other creditors 38,125 3,877
50,903 6,277

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.21 29.2.20
£    £   
Bank loans 27,500 16,802

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,500 -

Page 5 continued...
MOVING BEANS LIMITED (REGISTERED NUMBER: 10639141)


NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2021

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 28.2.21 29.2.20
value: £    £   
11,226 Ordinary shares £1 11,226 10,000

1,226 Ordinary shares shares of £1 each were allotted as fully paid at a premium of £229 per share during the year.

9. RELATED PARTY DISCLOSURES

During the year payments of professional fees were made to directors, D Hardej £33,000 (2020 - £24,000) and G Guilera-Ferre £30,000 (2020 - £24,000).

Page 6