Company Registration No. 03912529 (England and Wales)
Moby Nicks Limited
Unaudited accounts
for the year ended 30 June 2023
Moby Nicks Limited
Unaudited accounts
Contents
Moby Nicks Limited
Company Information
for the year ended 30 June 2023
Directors
Mr N C Henry
Mrs B Henry
Company Number
03912529 (England and Wales)
Registered Office
Unit 11
Fish Quay
Plymouth
Devon
PL4 0LH
Accountants
The Fresh Accountancy Company Limited
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Moby Nicks Limited for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Moby Nicks Limited for the year ended
30 June 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
The Fresh Accountancy Company Limited
Chartered Accountants
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
14 August 2023
Moby Nicks Limited
Statement of financial position
as at 30 June 2023
Tangible assets
13,486
17,383
Inventories
92,609
103,376
Cash at bank and in hand
128,847
112,793
Creditors: amounts falling due within one year
(173,302)
(200,624)
Net current assets
741,024
665,615
Total assets less current liabilities
754,510
682,998
Provisions for liabilities
Deferred tax
(2,761)
(3,303)
Net assets
751,749
679,695
Called up share capital
100
100
Profit and loss account
751,649
679,595
Shareholders' funds
751,749
679,695
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2023 and were signed on its behalf by
Mrs B Henry
Director
Company Registration No. 03912529
Moby Nicks Limited
Notes to the Accounts
for the year ended 30 June 2023
Moby Nicks Limited is a private company, limited by shares, registered in England and Wales, registration number 03912529. The registered office is Unit 11, Fish Quay, Plymouth, Devon, PL4 0LH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing / completion.
Moby Nicks Limited
Notes to the Accounts
for the year ended 30 June 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2022
1,977
33,309
35,286
Disposals
(969)
(4,201)
(5,170)
At 30 June 2023
2,015
29,108
31,123
At 1 July 2022
1,388
16,515
17,903
Charge for the year
209
4,093
4,302
On disposals
(788)
(3,780)
(4,568)
At 30 June 2023
809
16,828
17,637
At 30 June 2023
1,206
12,280
13,486
At 30 June 2022
589
16,794
17,383
Moby Nicks Limited
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
Trade debtors
297,318
268,676
Amounts due from group undertakings etc.
375,885
365,635
Accrued income and prepayments
11,965
8,913
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
140,652
140,863
Taxes and social security
24,518
45,078
Loans from directors
-
11,318
8
Operating lease commitments
2023
2022
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
3,152
3,152
Later than one year and not later than five years
1,050
4,203
9
Average number of employees
During the year the average number of employees was 11 (2022: 11).
