Company No: 11884542 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Investments	4	1,663,723		2,454,492
		1,663,723		2,454,492
Current assets
Debtors	5	30,863		0
		30,863		0
Creditors: amounts falling due within one year	6	( 191,120)		( 226,013)
Net current liabilities		(160,257)		(226,013)
Total assets less current liabilities		1,503,466		2,228,479
Creditors: amounts falling due after more than one year	7	( 933,216)		( 870,751)
Net assets		570,250		1,357,728
Capital and reserves
Called-up share capital	8	8,500		8,500
Capital redemption reserve		1,500		1,500
Profit and loss account		560,250		1,347,728
Total shareholder's funds		570,250		1,357,728

For the financial year ending 30 June 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Moodology Limited (registered number: 11884542) were approved and authorised for issue by the Board of Directors on 23 March 2023. They were signed on its behalf by:

H H Quinlan Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Moodology Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Ground Floor, Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom. The principal place of business is 45 High Street, Glastonbury, BA6 9DS.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The company is reliant on the performance of its subsidiary company Archstone Limited in order to meet its liabilities as they fall due. During the year to 30 June 2022, Archstone Limited generated a loss before tax of £34,501, however the directors anticipate ongoing growth of the subsidiary leading to profitability in the future having given due consideration to current UK economic uncertainty and inflationary environment. The directors are satisfied that the going concern basis of preparation remains appropriate in these financial statements.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Investments in subsidiaries are carried at cost less any impairments, which requires estimation as to the carrying value of the investment. The carrying amount is £1,663,723 and the directors have, in making their assessment, considered the impact of the current UK economic uncertainty and inflationary environment on the operations of the subsidiary.

3. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year	0		0

4. Fixed asset investments

Investments in subsidiaries

	2022
	£
Cost
At 01 July 2021	2,454,492
At 30 June 2022	2,454,492
Provisions for impairment
At 01 July 2021	0
Impairment	790,769
At 30 June 2022	790,769
Carrying value at 30 June 2022	1,663,723
Carrying value at 30 June 2021	2,454,492

The company holds 100% of the shares in Archstone Limited. The principal activity of Archstone Limited is food retail in specialised stores.

5. Debtors

	2022		2021
	£		£
Amounts owed by Group undertakings	30,863		0

6. Creditors: amounts falling due within one year

	2022		2021
	£		£
Amounts owed to Group undertakings	0		49,157
Amounts owed to directors	169,251		162,750
Accruals	21,869		14,106
	191,120		226,013

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

	2022		2021
	£		£
Amounts owed to Group undertakings	570,246		0
Amounts owed to directors	302,004		276,000
Other loans	0		496,000
Accruals	60,966		98,751
	933,216		870,751

8. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
8,500 Ordinary shares of £ 1.00 each	8,500		8,500

9. Related party transactions

During the year a loan of £496,000 due to an entity with significant influence and a director in common was novated to the company's parent entity. At the year end the amount due to the parent company was £570,246.

At the year end the company owed £112,618 to one of its directors (2021 - £106,056). Repayments of £nil were made in the year and interest of £6,563 accrued. The loan accrues interest at 7% and is repayable on demand.

At the year end the company owed £309,386 to the same director (2021 - £257,168). Repayments of £9,875 were made in the year. £50,005 of additional capital was introduced and interest of £12,088 accrued. The loan accrues interest at 5% per annum and is repayable over a five year term.

At the year end the company owed £129,085 to one of its directors (2021 - £130,937). Repayments of £7,625 were made in the year and interest of £5,773 accrued. The loan accrues interest at 5% per annum and is repayable over a five year term.