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Registration number: 05868345

Moseley Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

Moseley Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Moseley Developments Limited

Company Information

Director

Mr Fredrick Tonge

Registered office

1 Pavilion Square
Westhoughton
Bolton
Bolton
BL5 3AJ

Accountants

EKWilliams Accountants Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

Moseley Developments Limited

(Registration number: 05868345)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

180,397

210,529

Current assets

 

Stocks

5

201,863

281,863

Debtors

6

640,694

262,348

Cash at bank and in hand

 

39,581

11,819

 

882,138

556,030

Creditors: Amounts falling due within one year

7

(241,073)

(60,912)

Net current assets

 

641,065

495,118

Total assets less current liabilities

 

821,462

705,647

Creditors: Amounts falling due after more than one year

7

(640,207)

(640,207)

Provisions for liabilities

(34,275)

(40,000)

Net assets

 

146,980

25,440

Capital and reserves

 

Called up share capital

2

2

Retained earnings

146,978

25,438

Shareholders' funds

 

146,980

25,440

 

Moseley Developments Limited

(Registration number: 05868345)
Balance Sheet as at 31 January 2023

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 October 2023
 

.........................................
Mr Fredrick Tonge
Director

 

Moseley Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Pavilion Square
Westhoughton
Bolton
Bolton
BL5 3AJ
England

These financial statements were authorised for issue by the director on 23 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts have been produced on a going conern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Moseley Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% reducing balance

Plant and Machinery

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Moseley Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and Machinery
£

Total
£

Cost or valuation

At 1 February 2022

1,671

300,000

301,671

At 31 January 2023

1,671

300,000

301,671

Depreciation

At 1 February 2022

1,142

90,000

91,142

Charge for the year

132

30,000

30,132

At 31 January 2023

1,274

120,000

121,274

Carrying amount

At 31 January 2023

397

180,000

180,397

At 31 January 2022

529

210,000

210,529

5

Stocks

2023
£

2022
£

Work in progress

201,863

281,863

 

Moseley Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

-

194,614

Amounts owed by related parties

320,608

67,734

Other debtors

 

320,086

-

   

640,694

262,348

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

53,289

33

Taxation and social security

11,261

9,449

Accruals and deferred income

1,450

1,386

Other creditors

175,073

50,044

241,073

60,912

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other creditors

640,207

640,207