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Unaudited Financial Statements |
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for the Year Ended 28 February 2018 |
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for |
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Movem Ltd. |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 28 February 2018 |
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for |
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Movem Ltd. |
Movem Ltd. (Registered number: 08876118) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2018 |
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Page |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Movem Ltd. |
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Company Information |
for the Year Ended 28 February 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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4 Cedar Park |
Cobham Road |
Ferndown Industrial Estate |
Wimborne |
Dorset |
BH21 7SF |
Movem Ltd. (Registered number: 08876118) |
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Abridged Statement of Financial Position |
28 February 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors |
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Prepayments and accrued income |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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ACCRUALS AND DEFERRED INCOME |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
Movem Ltd. (Registered number: 08876118) |
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Abridged Statement of Financial Position - continued |
28 February 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Movem Ltd. (Registered number: 08876118) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2018 |
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1. | STATUTORY INFORMATION |
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Movem Ltd. is a
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office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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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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Development costs |
Development costs relate to expenditure in relation to the building of the company's website platform. The expenditure is not a realised |
loss. The website platform once fully constructed will form an asset from which future revenues will flow to the company and has |
therefore been capitalised. No amortisation has been charged in this year as the website was not fully operational at the year end. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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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 |
statement of financial position date. |
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Deferred tax |
No deferred tax has been recognised due to the timing differences being less than the available losses. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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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Movem Ltd. (Registered number: 08876118) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 March 2017 |
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Additions |
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At 28 February 2018 |
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NET BOOK VALUE |
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At 28 February 2018 |
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At 28 February 2017 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 March 2017 |
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Additions |
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At 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
NIL | - | - |
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A Ordinary | £0.00 | 1 |
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2,481 |
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B Investment | £0.00 | 1 |
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2,944 | 2,517 |
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100,000 'A Ordinary' shares remain unpaid and the balance of £100 is included within other debtors. |
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On 22 December 2017 368,107 'A Ordinary' shares and 58,507 'B Investment' shares were issued all at a premium of £0.92762 per share. |
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7. | PENSION COMMITMENTS |
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The company operates a defined contribution pension scheme for the benefit of the employees. The assets of the scheme are held |
separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £74 |
(2017 - Nil) were due to the fund. |
Movem Ltd. (Registered number: 08876118) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
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8. | OTHER FINANCIAL COMMITMENTS |
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At 28 February 2018, the company had total commitments under non-cancellable operating leases over the remaining life of those leases |
of £10,080. |
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9. | OFF-BALANCE SHEET ARRANGEMENTS |
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There were no off-balance sheet arrangements. |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 28 February 2018 and 28 February 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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At the financial year end, a balance of £747 (2017 - £310) was owed by the director. The loan is unsecured, interest free and repayable |
on demand. |