Moving Inn Properties Limited - Filleted accounts

Moving Inn Properties Limited
Registered number:		09873743
Balance Sheet
as at 31 January 2023

Notes			2023			2022
£				£
Fixed assets
Tangible assets	3		1,021,467			1,028,365

Current assets
Cash at bank and in hand		2,814			13,078

Creditors: amounts falling due within one year	4	(12,135)			(6,428)

Net current (liabilities)/assets			(9,321)			6,650

Total assets less current liabilities			1,012,146			1,035,015

Creditors: amounts falling due after more than one year	5		(1,021,482)			(1,040,098)



Net liabilities			(9,336)			(5,083)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(9,436)			(5,183)

Shareholder's funds			(9,336)			(5,083)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the board on 29 September 2023 and signed by:




Mr Dean Carter
Director

Moving Inn Properties Limited
Notes to the Accounts
for the year ended 31 January 2023

1	Accounting policies

	Basis of preparation

	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets

	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Buildings	over 100 years
	Plant and machinery	over 4 years
	Fixtures, fittings, tools and equipment	over 4 years

	Debtors

	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors

	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.









	Taxation

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees		2023		2022
Number				Number

	Average number of persons employed by the company		-		-


3	Tangible fixed assets
					Land and buildings
£
	Cost
	At 1 February 2022				1,042,981
	At 31 January 2023				1,042,981

	Depreciation
	At 1 February 2022				14,616
	Charge for the year				6,898
	At 31 January 2023				21,514

	Net book value
	At 31 January 2023				1,021,467
	At 31 January 2022				1,028,365


4	Creditors: amounts falling due within one year		2023		2022
£				£

	Corporation tax		620		306
	Other creditors		11,515		6,122
			12,135		6,428






5	Creditors: amounts falling due after one year		2023		2022
£				£

	Bank loans		851,482		846,229
	Other creditors		170,000		193,869
			1,021,482		1,040,098


6	Loans		2023		2022
£				£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years		1,021,482		1,040,098


	Secured bank loans		851,482		846,229

	The bank has a fixed charge over the company's leasehold properties.


7	Other information

	Moving Inn Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
	467 Norwood Road
	West Norwood
	London
	SE27 9DJ