NOTES TO THE UNAUDITED INTERIM ACCOUNTS

FOR THE PERIOD ENDED 30 APRIL 2023

1.     Basis of preparation

The financial statements included in these interim accounts have been prepared under the historical cost convention and in accordance with UK adopted international accounting standards in conformity with the requirements of the Companies Act 2006 and is presented in GBP.

The Company was incorporated on 17 September 2021 and in March 2022 was admitted to Standard List of London Stock Exchange. The interim financial information for the period ending 30 April 2023 has not been audited.  The interim financial report has been approved by the Board on 31 July 2023.

The interim financial information for the six months ended 30 April 2023 does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. 

The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in this review. The financial position of the Company, its cash flows and liquidity position are described in this business review. As highlighted below, the Company meets its day to day working capital requirements through its on-going cash flows. 

The principal accounting policies used in preparing these interim accounts are those expected to be applied in the Company's Financial Statements for the year ending 31 October 2023.

 2.    Accounting policies

The principal accounting policies adopted in the preparation of these financial results are set out below.

Segment reporting

The Company is currently a cash shell and the directors believe that there is no benefit to show any segmental reporting until a new strategy is undertaken.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks. Bank overdrafts that are repayable on demand and form an integral part of the Company's cash management are included as a component of cash and cash equivalents for the purpose of the cash flow statement.

Share capital

Ordinary shares

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares and share options are recognised as a deduction from equity, net of any tax effects.

Taxation

Income tax payable is provided on taxable profits using tax rates enacted or substantively enacted at the balance sheet date.

Deferred taxation is provided in full, using the liability method on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial results. Deferred tax is determined using tax rates (and laws) that have been enacted or substantively enacted at the balance sheet date and are expected to apply when the related balance sheet tax asset is realised or the deferred liability is settled.

Deferred income tax assets are recognised to the extent that it is possible that future taxable profit will be available against which temporary differences can be utilised. 

Income tax is recognised in the consolidated income statement except to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity.

Going concern basis of preparation

The Company had £782,250 cash at the period end. The Directors have prepared the accounts on a going concern basis as they consider that the company has adequate funding.

3.    Earnings (Loss) per share

The basic earnings per share is calculated by dividing the (loss)/profit attributable to the ordinary shareholders of the Company by the weighted average number of Ordinary shares in issue during the period, excluding Ordinary shares purchased by the Company and held as treasury shares.

There are no diluted earnings per share as the warrants currently in issue do not have a dilutive effect.

4.    Distribution of Interim Report and Registered Office

A copy of the Interim Report will be available shortly on the Company's website http://www.moreacquisitions.co.uk/ and copies will be available from the Company's registered office, 3^rd Floor, 80 Cheapside, London, EC2V 6EE.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.