Registered number
05108002
Moorcroft Residential Homes Ltd
Filleted Accounts
27 February 2023
Moorcroft Residential Homes Ltd
Registered number: 05108002
Balance Sheet
as at 27 February 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 100,000
Tangible assets 4 189,555 216,020
189,555 316,020
Current assets
Debtors 5 662,393 396,662
Cash at bank and in hand 913,622 216,198
1,576,015 612,860
Creditors: amounts falling due within one year 6 (389,392) (213,690)
Net current assets 1,186,623 399,170
Net assets 1,376,178 715,190
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,376,078 715,090
Shareholders' funds 1,376,178 715,190
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Campbell Jack
Director
Approved by the board on 22 May 2023
Moorcroft Residential Homes Ltd
Notes to the Accounts
for the period from 1 June 2022 to 27 February 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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 25 29
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 100,000
Disposals (860,000)
At 27 February 2023 (760,000)
Profit on sale of goodwill
Profit on disposal (760,000)
At 27 February 2023 (760,000)
Net book value
At 27 February 2023 -
At 31 May 2022 100,000
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2022 188,203 72,944 68,390 329,537
Disposals - (72,944) (53,577) (126,521)
At 27 February 2023 188,203 - 14,813 203,016
Depreciation
At 1 June 2022 - 51,613 61,904 113,517
Charge for the period - - 238 238
On disposals - (51,613) (48,681) (100,294)
At 27 February 2023 - - 13,461 13,461
Net book value
At 27 February 2023 188,203 - 1,352 189,555
At 31 May 2022 188,203 21,331 6,486 216,020
5 Debtors 2023 2022
£ £
Trade debtors 23,520 5,276
Other debtors 638,873 391,386
662,393 396,662
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 25,404 51,143
Taxation and social security costs 238,737 63,615
Other creditors 125,251 98,932
389,392 213,690
7 Other information
Moorcroft Residential Homes Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Speechleys
23 Wynnstay Road
Colwyn Bay
Conwy
LL29 8NB
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