Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31false12022-04-01No description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13530086 2022-04-01 2023-03-31 13530086 2021-07-26 2022-03-31 13530086 2023-03-31 13530086 2022-03-31 13530086 c:Director1 2022-04-01 2023-03-31 13530086 c:RegisteredOffice 2022-04-01 2023-03-31 13530086 d:LeaseholdInvestmentProperty 2023-03-31 13530086 d:LeaseholdInvestmentProperty 2022-03-31 13530086 d:CurrentFinancialInstruments 2023-03-31 13530086 d:CurrentFinancialInstruments 2022-03-31 13530086 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13530086 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13530086 d:ShareCapital 2023-03-31 13530086 d:ShareCapital 2022-03-31 13530086 d:OtherMiscellaneousReserve 2022-04-01 2023-03-31 13530086 d:OtherMiscellaneousReserve 2023-03-31 13530086 d:OtherMiscellaneousReserve 2022-03-31 13530086 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 13530086 d:RetainedEarningsAccumulatedLosses 2023-03-31 13530086 d:RetainedEarningsAccumulatedLosses 2022-03-31 13530086 d:OtherDeferredTax 2023-03-31 13530086 d:OtherDeferredTax 2022-03-31 13530086 c:OrdinaryShareClass1 2022-04-01 2023-03-31 13530086 c:OrdinaryShareClass1 2023-03-31 13530086 c:OrdinaryShareClass1 2022-03-31 13530086 c:FRS102 2022-04-01 2023-03-31 13530086 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13530086 c:FullAccounts 2022-04-01 2023-03-31 13530086 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 13530086












MOORE HOUSE PROPERTY GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 

MOORE HOUSE PROPERTY GROUP LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 10

 

MOORE HOUSE PROPERTY GROUP LIMITED
 
COMPANY INFORMATION


Director
Mr B Palos 




Registered number
13530086



Registered office
2nd Floor 73 Brook Street
Mayfair

London

W1K 4HX




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:13530086
MOORE HOUSE PROPERTY GROUP LIMITED

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
4,550,000
4,550,000

Current assets
  

Debtors: amounts falling due within one year
 6 
17,769
20,952

Cash at bank and in hand
  
81,355
81,791

  
99,124
102,743

Creditors: amounts falling due within one year
 7 
(2,640,937)
(2,695,892)

Net current liabilities
  
 
 
(2,541,813)
 
 
(2,593,149)

Total assets less current liabilities
  
2,008,187
1,956,851

Provisions for liabilities
  

Deferred tax
 8 
(367,151)
(367,151)

  
 
 
(367,151)
 
 
(367,151)

Net assets
  
1,641,036
1,589,700


Capital and reserves
  

Called up share capital 
 9 
100
100

Other reserves
 10 
1,565,222
1,565,222

Profit and loss account
 10 
75,714
24,378

Total equity
  
1,641,036
1,589,700

Page 2


 
REGISTERED NUMBER:13530086
MOORE HOUSE PROPERTY GROUP LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and signed by the director and authorised for issue:




Mr B Palos
Director

Date: 28 March 2024

The notes on pages 4 to 10 form part of these financial statements.
Page 3

 

MOORE HOUSE PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Moore House Property Group Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 2nd Floor 73 Brook Street, Mayfair, London, W1K 4HX.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, and other sales taxes. The following criteria must also be met before revenue is recognised:
For revenue comprising of rental income, service charges and other resources from tenants of the company's properties, rental income is recognised on an accruals basis in the period in which it is earned, in accordance with the terms of the lease.

Revenue from the sale of land and buildings is recognised when there has been an unconditional exchange of contracts. If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and this outside the control of the company), then revenue is recognised only when the event occurs.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 

MOORE HOUSE PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.


2.6

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 5

 

MOORE HOUSE PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)





Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.8

Share capital

Ordinary shares are classified as equity.

Page 6

 

MOORE HOUSE PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future period if the revision affects both current and future periods.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 -1).

Page 7

 

MOORE HOUSE PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Investment property

£



Valuation


At 1 April 2022
4,550,000



At 31 March 2023
4,550,000

The 2023 valuation was made by the director on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
2,617,627
2,617,627


6.


Debtors

2023
2022
£
£

Other debtors
-
82

Prepayments
17,769
20,870

17,769
20,952

Page 8

 

MOORE HOUSE PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
4,719
-

Amounts owed to group undertakings
2,569,999
2,645,198

Corporation tax
5,618
5,718

Other creditors
18,945
-

Accruals and deferred income
41,656
44,976

2,640,937
2,695,892



8.


Deferred taxation




2023


£






At beginning of year
(367,151)



At end of year
(367,151)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fair value movements on investment property
(367,151)
(367,151)


The deferred tax liability set out above is not expected to reverse until the disposal of the investment property.
Page 9

 

MOORE HOUSE PROPERTY GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 -100) Ordinary shares of £1.00 each
100
100



10.


Reserves

Fair value reserve

Other reserves are non-distributable and arose from fair value movements on the company's investment property, net of any deferred tax.

Profit and loss account

The profit and loss account comprises distributable reserves and is made up of accumulated historic profits and losses, net of any dividends.


11.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.

 
Page 10