Moonfix Limited - Accounts to registrar (filleted) - small 17.3
Moonfix Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
FOR |
MOONFIX LIMITED |
MOONFIX LIMITED (REGISTERED NUMBER: 05890248) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2017 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
MOONFIX LIMITED |
COMPANY INFORMATION |
for the year ended 30 April 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
MOONFIX LIMITED (REGISTERED NUMBER: 05890248) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
30 April 2017 |
2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Stock of property |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDER FUNDS | ( |
) | ( |
) |
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 on behalf by: |
MOONFIX LIMITED (REGISTERED NUMBER: 05890248) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2017 |
1. | STATUTORY INFORMATION |
Moonfix Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of accounting |
The financial statements have been prepared under the historical cost convention, and on the going |
concern basis. |
They have been drawn up to comply with the applicable Financial Reporting Standards 102 (FRS 102), |
which have been applied consistently throughout the current year. |
There were no material adjustments on adoption of FRS102 that required restatement of the prior year |
adjustments. |
Moonfix Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken |
advantage of the disclosure exemptions available. Exemptions have been taken in relation to financial |
instruments, presentation of a cash flow statement and intra-group transactions. |
Going concern |
The company incurred a loss for the year and at the balance sheet date its current liabilities exceeded its |
current assets. The directors have a reasonable expectation that the company has adequate resources to |
continue in operational existence for the foreseeable future due to the continued support of the parent |
company with funding provided as and when necessary to the company so that it can meet its working |
capital and investment requirements. The parent company has also undertaken to provide a letter of |
support. Thus the directors continue to adopt the going concern basis of accounting in preparing the |
financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 |
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related |
party transactions with wholly owned subsidiaries within the group. |
Stock of properties |
Stocks are stated at the lower of cost and net realisable value. Net realisable value is based upon estimated |
selling price, less costs to be incurred to completion and disposal. |
Taxation |
Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid (or |
recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance |
sheet date. |
MOONFIX LIMITED (REGISTERED NUMBER: 05890248) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2017 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
Turnover |
Turnover comprises income in relation to the sale of properties and is recognised on the point of |
completion and originated in the United Kingdom. |
Rental income |
Rental income is measured at the fair value of the consideration received or receivable on an accruals |
basis and is stated net of discounts and VAT. |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses |
arising from impairment are recognised in the profit and loss. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. |
Subsequently, they are measured at amortised cost using the effective interest rate method, less |
impairment. |
4. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Bank loans |
The bank loans outstanding at 30 April 2017 are secured by a fixed charge over the company's assets, |
interest bearing and repayable on 31 August 2020. |
5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
6. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Prime London Residential Limited by virtue of its ownership of the entire |
issued share capital. |
The smallest and largest group in which the results of the company will be consolidated is Prime London |
Residential Limited whose accounts will be obtainable from 59-60 Grosvenor Street, Mayfair, London, |
W1K 3HZ. |
MOONFIX LIMITED (REGISTERED NUMBER: 05890248) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2017 |
7. | TRANSITION TO FRS 102 |
This is the first year that the Company has presented its financial statements under Financial Reporting |
Standard 102 (FRS 102) issued by the Financial Reporting Council. The last financial statements under |
previous UK GAAP were for the period ended 30 April 2016 and the date of transition to FRS 102 was |
therefore 1 May 2015 and is reflected in the comparatives. |
No transitional adjustments were required in equity reported or profit or loss for the previous financial |
year. |