MoveFortyTwo Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12215628 (England and Wales)

MoveFortyTwo Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D H Pugh

Mrs E K Pugh

REGISTERED OFFICE:

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

REGISTERED NUMBER:

12215628 (England and Wales)

ACCOUNTANTS:

Atkins Ferrie Chartered Accountants

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

FIXED ASSETS

Tangible assets

4

10,326

10,664

Investment property

5

180,000

180,000

190,326

190,664

CURRENT ASSETS

Debtors

6

-

87

Cash at bank

6,817

3,460

6,817

3,547

CREDITORS

Amounts falling due within one year

7

62,233

61,420

NET CURRENT LIABILITIES

(55,416

)

(57,873

)

TOTAL ASSETS LESS CURRENT LIABILITIES

134,910

132,791

CREDITORS

Amounts falling due after more than one year

8

(119,356

)

(119,356

)

PROVISIONS FOR LIABILITIES

(2,811

)

(2,811

)

NET ASSETS

12,743

10,624

CAPITAL AND RESERVES

Called up share capital

2

2

Non-distributable reserve

19,689

19,689

Retained earnings

(6,948

)

(9,067

)

12,743

10,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 9 June 2022 and were signed on its behalf by:

Mr D H Pugh - Director

Mrs E K Pugh - Director

1.	STATUTORY INFORMATION

MoveFortyTwo Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Going concern

At the balance sheet date the accounts show net current liabilities however the directors are confident that the company can meet its debts as and when they fall due and going concern is not an issue.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 October 2020

and 30 September 2021

8,975

2,125

11,100

DEPRECIATION

At 1 October 2020

-

436

436

Charge for year

-

338

338

At 30 September 2021

-

774

774

NET BOOK VALUE

At 30 September 2021

8,975

1,351

10,326

At 30 September 2020

8,975

1,689

10,664

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2020

and 30 September 2021

180,000

NET BOOK VALUE

At 30 September 2021

180,000

At 30 September 2020

180,000

Fair value at 30 September 2021 is represented by:

£

Valuation in 2021

180,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Other debtors

-

87

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Taxation and social security

419

-

Other creditors

61,814

61,420

62,233

61,420

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.21

30.9.20

£

£

Other creditors

119,356

119,356