Moodbeam Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 10349738

		2018		2017
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		27,600		-

			27,600		-
CURRENT ASSETS
Debtors	3	7,432		343
Cash at bank and in hand		118,015		1,747

		125,447		2,090
Creditors: Amounts Falling Due Within One Year	4	(13,511 )		(13,732 )

NET CURRENT ASSETS (LIABILITIES)			111,936		(11,642 )

TOTAL ASSETS LESS CURRENT LIABILITIES			139,536		(11,642 )

Creditors: Amounts Falling Due After More Than One Year	5		(200,000 )		-

NET ASSETS			(60,464 )		(11,642 )

CAPITAL AND RESERVES
Called up share capital	6		200		200
Profit and Loss Account			(60,663 )		(11,843 )

SHAREHOLDERS' FUNDS			(60,463)		(11,643)

Page 1

Moodbeam Limited

Balance Sheet (continued)

As at 31 August 2018

For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Ms Christina Colmer McHugh

30/11/2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Research and Development

Expenditure on research and development is written off in the year it is incurred.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

50% straight line

2. Intangible Assets

	Development Costs
	£
Cost
As at 1 September 2017	-
Additions	34,500

As at 31 August 2018	34,500

Amortisation
As at 1 September 2017	-
Provided during the period	6,900

As at 31 August 2018	6,900

Net Book Value
As at 31 August 2018	27,600

As at 1 September 2017	-

Page 3

Moodbeam Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2018

3. Debtors

	2018	2017
	£	£
Due within one year
Other debtors	35	40
VAT	7,397	303

	7,432	343

4. Creditors: Amounts Falling Due Within One Year

	2018	2017
	£	£
Accruals and deferred income	540	433
Directors' loan accounts	12,971	13,299

	13,511	13,732

5. Creditors: Amounts Falling Due After More Than One Year

	2018	2017
	£	£
Other creditors	200,000	-

	200,000	-

6. Share Capital

	2018		2017
Allotted, Called up and fully paid	200		200

7. Ultimate Controlling Party

The company's ultimate controlling party is the directors by virtue of their ownership of 80% of the issued share capital in the company.

8. General Information

Moodbeam Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10349738. The registered office is C4DI @ The Dock, 31-38 Queen Street, Hull, HU1 1UU.

Page 4