Registered number
10802856
Moore Renovations & Rentals Ltd
Filleted Accounts
30 June 2023
Moore Renovations & Rentals Ltd
Registered number: 10802856
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 1,111,869 1,023,729
Current assets
Cash at bank and in hand 28,509 15,725
Creditors: amounts falling due within one year 3 (134,158) (192,369)
Net current liabilities (105,649) (176,644)
Total assets less current liabilities 1,006,220 847,085
Creditors: amounts falling due after more than one year 4 (1,032,607) (869,673)
Net liabilities (26,387) (22,588)
Capital and reserves
Called up share capital 100 100
Profit and loss account (26,487) (22,688)
Shareholders' funds (26,387) (22,588)
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.
Donna Moore
Director
Approved by the board on 28 March 2024
Moore Renovations & Rentals Ltd
Notes to the Accounts
for the year ended 30 June 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:
Furnishings 20% Reducing balance method
Investments properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value with the surplus or deficit being recognised as a profit or loss on revaluation. Where fair value cannot be achieved with undue cost or effort, the cost is held as the value.
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.
2022 2021
Average number of employees 0 0
2 Tangible fixed assets
Land and buildings Furnishings Total
£ £ £
Cost
At 1 July 2022 1,013,491 16,744 1,030,235
Additions 83,976 7,764 91,740
At 30 June 2023 1,097,467 24,508 1,121,975
Depreciation
At 1 July 2022 - 6,506 6,506
Charge for the year - 3,600 3,600
At 30 June 2023 - 10,106 10,106
Net book value
At 30 June 2023 1,097,467 14,402 1,111,869
At 30 June 2022 1,013,491 10,238 1,023,729
3 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,927 11,152
Obligations under finance and hire purchase contracts - 929
Other creditors 123,231 180,288
134,158 192,369
4 Creditors: amounts falling due after one year 2023 2022
£ £
Intercompany loan 139,409 138,642
Bank loans 893,198 536,568
Other creditors - 194,463
1,032,607 869,673
5 Related party transactions
There is a balance of £122,944 owed from the company to the directors at the financial year end. The loan is not interest payable. Included within the creditors balance is a loan with Moore Professional Services Ltd, Donna Moore and Nathan Moore are directors of. This totals £139,409 at the financial year end.
6 Other information
Moore Renovations & Rentals Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 The Acres
Barrow, Clitheroe
England
BB7 9BH
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