Mossco Properties Limited 02276646 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is property trading and residential letting. Digita Accounts Production Advanced 6.30.9574.0 true true 02276646 2022-11-01 2023-10-31 02276646 2023-10-31 02276646 core:CurrentFinancialInstruments 2023-10-31 02276646 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 02276646 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 02276646 core:OfficeEquipment 2023-10-31 02276646 1 2023-10-31 02276646 bus:SmallEntities 2022-11-01 2023-10-31 02276646 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 02276646 bus:FilletedAccounts 2022-11-01 2023-10-31 02276646 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 02276646 bus:RegisteredOffice 2022-11-01 2023-10-31 02276646 bus:Director2 2022-11-01 2023-10-31 02276646 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 02276646 core:LandBuildings 2022-11-01 2023-10-31 02276646 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02276646 core:OfficeEquipment 2022-11-01 2023-10-31 02276646 core:PlantMachinery 2022-11-01 2023-10-31 02276646 countries:EnglandWales 2022-11-01 2023-10-31 02276646 1 2022-11-01 2023-10-31 02276646 2022-10-31 02276646 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 02276646 core:OfficeEquipment 2022-10-31 02276646 1 2022-10-31 02276646 2021-11-01 2022-10-31 02276646 2022-10-31 02276646 core:CurrentFinancialInstruments 2022-10-31 02276646 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 02276646 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 02276646 core:OfficeEquipment 2022-10-31 02276646 1 2022-10-31 02276646 1 2021-11-01 2022-10-31 02276646 1 2021-10-31 iso4217:GBP xbrli:pure

Registration number: 02276646

Mossco Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Mossco Properties Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Mossco Properties Limited

(Registration number: 02276646)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

350,000

345,558

Current assets

 

Debtors

5

430

4,982

Cash at bank and in hand

 

193,972

195,969

 

194,402

200,951

Creditors: Amounts falling due within one year

6

(8,931)

(2,645)

Net current assets

 

185,471

198,306

Total assets less current liabilities

 

535,471

543,864

Provisions for liabilities

(22,432)

(22,904)

Net assets

 

513,039

520,960

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

512,939

520,860

Shareholders' funds

 

513,039

520,960

For the financial year ending 31 October 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 Statement of Comprehensive Income.

Approved and authorised by the director on 8 March 2024
 


Mr M T L Moss
Director

 

Mossco Properties Limited

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

1

General information

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

The address of its registered office is:
Petitor House
Nicholson Road
Torquay
Devon
TQ2 7TD

Principal activity

The principal activity of the company is property trading and residential letting.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Mossco Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 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.

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Freehold property

not depreciated

Plant and machinery

25% straight line

 

Mossco Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Mossco Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

4

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 November 2022

345,500

2,517

348,017

Revaluations

(2,793)

-

(2,793)

Additions

77,793

-

77,793

Disposals

(70,500)

-

(70,500)

At 31 October 2023

350,000

2,517

352,517

Depreciation

At 1 November 2022

-

2,459

2,459

Charge for the year

-

58

58

At 31 October 2023

-

2,517

2,517

Carrying amount

At 31 October 2023

350,000

-

350,000

At 31 October 2022

345,500

58

345,558

Included within the net book value of land and buildings above is £350,000 (2022 - £345,500) in respect of freehold land and buildings.
 

5

Debtors

2023
£

2022
£

Other debtors

-

3,518

Prepayments

430

1,464

430

4,982

 

Mossco Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

126

96

Accruals and deferred income

1,627

2,549

Other creditors

7,178

-

8,931

2,645

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with the director

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Director

3,518

(64,924)

54,228

(7,178)

         
       

 

2022

At 1 November 2021
£

Advances to director
£

Repayments by director
£

At 31 October 2022
£

Director

(71,462)

(23,323)

98,303

3,518