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REGISTERED NUMBER: 07324089 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

MOOREY PROPERTY DEVELOPMENT LIMITED

MOOREY PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 07324089)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MOOREY PROPERTY DEVELOPMENT LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTOR: R D Moorey





SECRETARY:





REGISTERED OFFICE: Rosedene Back Lane
Danthorpe
Hull
East Yorkshire
HU12 9BN





REGISTERED NUMBER: 07324089 (England and Wales)





ACCOUNTANTS: The Accountancy & Administration Bureau
31 Thornfields
Thorngumbald
East Riding

MOOREY PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 07324089)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,120,000 705,000

CURRENT ASSETS
Cash at bank 2,903 4,201

CREDITORS
Amounts falling due within one year 5 304,929 158,150
NET CURRENT LIABILITIES (302,026 ) (153,949 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

817,974

551,051

CREDITORS
Amounts falling due after more than one
year

6

(655,200

)

(416,160

)

PROVISIONS FOR LIABILITIES (35,258 ) (25,752 )
NET ASSETS 127,516 109,139

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 150,340 109,784
Retained earnings (22,924 ) (745 )
127,516 109,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MOOREY PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 07324089)

BALANCE SHEET - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 February 2024 and were signed by:





R D Moorey - Director


MOOREY PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 07324089)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Moorey Property Development Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

MOOREY PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 07324089)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 705,000
Additions 364,938
Revaluations 50,062
At 31 July 2023 1,120,000
NET BOOK VALUE
At 31 July 2023 1,120,000
At 31 July 2022 705,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2022 185,569
Cost 934,431
1,120,000

If the property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 934,431 569,464

Investment property was valued on an open market basis on 31 July 2022 by the director on advice from an advisor .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 27,300 17,340
Other creditors 277,629 140,810
304,929 158,150

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 655,200 416,160

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 546,000 346,800

MOOREY PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 07324089)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 682,500 433,500

The bank has a charge over the property.

8. RESERVES
Revaluation
reserve
£   
At 1 August 2022 109,784
Deferred taxation (9,506 )
Increase on year 50,062

At 31 July 2023 150,340