Registered number
12283762
Moseley Property Management Limited
Filleted Accounts
31 May 2023
Moseley Property Management Limited
Registered number: 12283762
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 510 -
Current assets
Stocks 1,711,348 489,332
Debtors 4 25,000 -
Cash at bank and in hand 328,839 251,347
2,065,187 740,679
Creditors: amounts falling due within one year 5 (1,516,423) (644,146)
Net current assets 548,764 96,533
Total assets less current liabilities 549,274 96,533
Creditors: amounts falling due after more than one year 6 (371,332) (30,833)
Provisions for liabilities (97) -
Net assets 177,845 65,700
Capital and reserves
Called up share capital 200 200
Profit and loss account 177,645 65,500
Shareholders' funds 177,845 65,700
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.
W Rehman
Director
Approved by the board on 24 January 2024
Moseley Property Management Limited
Notes to the Accounts
for the year ended 31 May 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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 637
At 31 May 2023 637
Depreciation
Charge for the year 127
At 31 May 2023 127
Net book value
At 31 May 2023 510
4 Debtors 2023 2022
£ £
Other debtors 25,000 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 269,975 10,000
Trade creditors 30,386 35,956
Taxation and social security costs 27,938 20,055
Other creditors 1,188,124 578,135
1,516,423 644,146
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 371,332 30,833
7 Other information
Moseley Property Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
253 Alcester Road South
Kings Heath
Birmingham
B14 6DT
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