ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-07-302021-07-3032020-07-31falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07927606 2020-07-31 2021-07-30 07927606 2019-07-31 2020-07-30 07927606 2021-07-30 07927606 2020-07-30 07927606 c:Director1 2020-07-31 2021-07-30 07927606 d:FurnitureFittings 2020-07-31 2021-07-30 07927606 d:FurnitureFittings 2021-07-30 07927606 d:FurnitureFittings 2020-07-30 07927606 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2020-07-31 2021-07-30 07927606 d:CurrentFinancialInstruments 2021-07-30 07927606 d:CurrentFinancialInstruments 2020-07-30 07927606 d:Non-currentFinancialInstruments 2021-07-30 07927606 d:Non-currentFinancialInstruments 2020-07-30 07927606 d:CurrentFinancialInstruments d:WithinOneYear 2021-07-30 07927606 d:CurrentFinancialInstruments d:WithinOneYear 2020-07-30 07927606 d:Non-currentFinancialInstruments d:AfterOneYear 2021-07-30 07927606 d:Non-currentFinancialInstruments d:AfterOneYear 2020-07-30 07927606 d:ShareCapital 2021-07-30 07927606 d:ShareCapital 2020-07-30 07927606 d:RetainedEarningsAccumulatedLosses 2021-07-30 07927606 d:RetainedEarningsAccumulatedLosses 2020-07-30 07927606 c:FRS102 2020-07-31 2021-07-30 07927606 c:AuditExempt-NoAccountantsReport 2020-07-31 2021-07-30 07927606 c:FullAccounts 2020-07-31 2021-07-30 07927606 c:PrivateLimitedCompanyLtd 2020-07-31 2021-07-30 iso4217:GBP xbrli:pure

Company registration number: 07927606

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 JULY 2021

	MOVEDIGITAL LTD


MOVEDIGITAL LTD REGISTERED NUMBER:07927606

STATEMENT OF FINANCIAL POSITION

AS AT 30 JULY 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		-		213
			-		213
Current assets
Debtors: amounts falling due within one year	5	292,344		249,889
Cash at bank and in hand		-		3,980
		292,344		253,869
Creditors: amounts falling due within one year	6	(237,702)		(178,103)
Net current assets			54,642		75,766
Total assets less current liabilities			54,642		75,979
Creditors: amounts falling due after more than one year	7		(38,333)		(54,439)

Net assets			16,309		21,540

Capital and reserves
Called up share capital	100	100
Profit and loss account	16,209	21,440
	16,309	21,540

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MOVEDIGITAL LTD REGISTERED NUMBER:07927606

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 JULY 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 July 2022.

Mr G John

Director

The notes on pages 3 to 6 form part of these financial statements.

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MOVEDIGITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JULY 2021

1.	General information

Movedigital Limited is a private company, limited by shares, registered in England and Wales, registration number
07927606. The registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9LT. The principal place of business is 20-22 Lordship Lane, London SE22 8HN.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Going concern

The director has prepared the accounts on the going concern basis. The company has been and remains reliant on support from its trade creditors, government support and shareholder loans. The director has considered this and forecasted cashflows for the twelve months from the date of approving these accounts and considers the going concern basis of preparation to be appropriate.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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MOVEDIGITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JULY 2021

2.Accounting policies (continued)

2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings

33%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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MOVEDIGITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JULY 2021

2.Accounting policies (continued)

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 3 (2020 - 3).

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 31 July 2020	3,066
	At 30 July 2021	3,066
	Depreciation
	At 31 July 2020	2,853
	Charge for the year on financed assets	213
	At 30 July 2021	3,066
	Net book value
	At 30 July 2021	-
	At 30 July 2020	213

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MOVEDIGITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JULY 2021

Debtors

					2021	2020
					£	£


Trade debtors	29,122	32,736
Other debtors	263,222	216,211
Prepayments and accrued income	-	942
	292,344	249,889

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank overdrafts	14,192	-
Bank loans	10,000	1,667
Trade creditors	41,706	20,105
Corporation tax	48,626	40,311
Other taxation and social security	40,688	29,397
Other creditors	82,490	86,623
	237,702	178,103

7.	Creditors: Amounts falling due after more than one year
		2021	2020
		£	£

Other creditors	-	7,150
Bank loans	38,333	47,289
	38,333	54,439

8.	Transactions with directors

Included within other debtors is a balance due from Mr G John amounting to £198,749 (2020: £163,503).
Amounts advanced during the year totalled £102,780 (2020: £99,514).
Amounts repaid during the year totalled £67,534 (2020: £77,801).
The Director has provided personal guarantees in respect of loans owed by the company and amounting to £7,150 (2020: £17,594).

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