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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31st October 2018 |
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Moorwand Limited |
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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31st October 2018 |
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for |
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Moorwand Limited |
Moorwand Limited (Registered number: 08491211) |
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Contents of the Financial Statements |
for the Year Ended 31st October 2018 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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Moorwand Limited |
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Company Information |
for the Year Ended 31st October 2018 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
Anova House |
Wickhurst Lane |
Broadbridge Heath |
Horsham |
West Sussex |
RH12 3LZ |
Moorwand Limited (Registered number: 08491211) |
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Report of the Directors |
for the Year Ended 31st October 2018 |
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The directors present their report with the financial statements of the company for the year ended 31st October 2018. |
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Principal activity |
The principal activity of the company in the year under review was that of a global digital payments company licenced |
by the Financial Conduct Authority of the UK to issue electronic money and provide other payment services. |
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Directors |
The directors shown below have held office during the whole of the period from 1st November 2017 to the date of this |
report. |
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Other changes in directors holding office are as follows: |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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On behalf of the board: |
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Moorwand Limited (Registered number: 08491211) |
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Income Statement |
for the Year Ended 31st October 2018 |
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2018 | 2017 |
Notes | £ | £ |
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Turnover |
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Cost of sales |
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Gross profit |
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Administrative expenses |
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Operating profit | 4 |
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Interest payable and similar expenses |
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Profit before taxation |
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Tax on profit |
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Profit for the financial year |
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Moorwand Limited (Registered number: 08491211) |
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Balance Sheet |
31st October 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 5 |
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Tangible assets | 6 |
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Current assets |
Debtors | 7 |
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Cash at bank | 8 |
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Creditors |
Amounts falling due within one year | 9 |
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Net current assets |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital |
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Share premium | 10 |
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Retained earnings | 10 |
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Shareholders' funds |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
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The financial statements were approved by the Board of Directors on
by: |
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Moorwand Limited (Registered number: 08491211) |
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Notes to the Financial Statements |
for the Year Ended 31st October 2018 |
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1. | Statutory information |
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Moorwand Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Motor vehicles | - |
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Computer equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
Moorwand Limited (Registered number: 08491211) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st October 2018 |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Operating profit |
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The operating profit is stated after charging: |
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2018 | 2017 |
£ | £ |
Depreciation - owned assets |
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Development costs amortisation |
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Computer software amortisation |
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5. | Intangible fixed assets |
Development | Computer |
costs | software | Totals |
£ | £ | £ |
Cost |
At 1st November 2017 |
and 31st October 2018 |
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Amortisation |
At 1st November 2017 |
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Amortisation for year |
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At 31st October 2018 |
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Net book value |
At 31st October 2018 |
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At 31st October 2017 |
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6. | Tangible fixed assets |
Plant and |
machinery |
etc |
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Cost |
At 1st November 2017 |
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Additions |
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At 31st October 2018 |
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Depreciation |
At 1st November 2017 |
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Charge for year |
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At 31st October 2018 |
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Net book value |
At 31st October 2018 |
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At 31st October 2017 |
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Moorwand Limited (Registered number: 08491211) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st October 2018 |
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7. | Debtors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Other debtors |
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VAT |
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Prepayments |
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8. | Cash at bank |
2018 | 2017 |
£ | £ |
Bank accounts - segregated | 8,414,692 | 3,936,374 |
Bank accounts - non segregated | 1,646,265 | 275,491 |
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9. | Creditors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Trade creditors - segregated |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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10. | Reserves |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1st November 2017 |
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899,230 |
Profit for the year |
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At 31st October 2018 |
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1,189,918 |