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Moran Property and Electrical Services Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13769788
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,000 4,000
Tangible Assets 5 12,133 14,362
15,133 18,362
CURRENT ASSETS
Stocks 6 1,250 1,250
Debtors 7 3,217 2,555
Cash at bank and in hand 72,266 63,780
76,733 67,585
Creditors: Amounts Falling Due Within One Year 8 (82,714 ) (73,740 )
NET CURRENT ASSETS (LIABILITIES) (5,981 ) (6,155 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,152 12,207
Creditors: Amounts Falling Due After More Than One Year 9 (5,806 ) (9,284 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,033 ) (2,729 )
NET ASSETS 313 194
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 213 94
SHAREHOLDERS' FUNDS 313 194
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr H Moran
Director
5 April 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Moran Property and Electrical Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13769788 . The registered office is 33 Oak Tree Road, Milford, Godalming, Surrey, GU8 5JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight line
Motor Vehicles 15% Straight line
Computer Equipment 33% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares, which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments, where applicable, are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and a deferred tax provision where necessary in accordance with accounting standards.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all material taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Where a reliable tax rate cannot be forecast, a deferred tax provision is calculated at the highest tax rate possibly applicable, based on tax rates (and tax laws) enacted by the end of the reporting date. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 1 (2022: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 5,000
As at 30 November 2023 5,000
Amortisation
As at 1 December 2022 1,000
Provided during the period 1,000
As at 30 November 2023 2,000
Net Book Value
As at 30 November 2023 3,000
As at 1 December 2022 4,000
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5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 1,985 15,145 - 17,130
Additions - - 808 808
As at 30 November 2023 1,985 15,145 808 17,938
Depreciation
As at 1 December 2022 496 2,272 - 2,768
Provided during the period 497 2,271 269 3,037
As at 30 November 2023 993 4,543 269 5,805
Net Book Value
As at 30 November 2023 992 10,602 539 12,133
As at 1 December 2022 1,489 12,873 - 14,362
Included above are assets held under finance leases or hire purchase contracts with a net book value of £9,783 (2022 - £11,879).
6. Stocks
2023 2022
£ £
Materials 1,250 1,250
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,540 1,933
Other debtors 677 622
3,217 2,555
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,478 3,193
Trade creditors 4,110 16,186
Other creditors 64,701 49,149
Taxation and social security 10,425 5,212
82,714 73,740
Included within Other creditors above are unsecured loans from the directors of £57,481 (2022 - £42,799). These loans are repayable on demand, and interest is charged at a rate of up to 15% per annum, at the discretion of the director. 
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 5,806 9,284
5,806 9,284
10. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 9,284 12,477
11. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,478 3,193
Later than one year and not later than five years 5,806 9,284
9,284 12,477
9,284 12,477
12. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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