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Moggers Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 October 2023

Registration number: 11327509

 

Moggers Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Moggers Limited

Balance Sheet

31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

2,471,588

2,375,999

Investments

5

-

1

Other financial assets

6

827,430

1,153,662

 

3,299,018

3,529,662

Current assets

 

Debtors

7

1,207

101,937

Cash at bank and in hand

 

1,019,189

661,037

 

1,020,396

762,974

Creditors: Amounts falling due within one year

8

(7,226)

(4,974)

Net current assets

 

1,013,170

758,000

Net assets

 

4,312,188

4,287,662

Capital and reserves

 

Called up share capital

9

1,100

1,100

Share premium reserve

3,825,274

3,825,274

Profit and loss account

485,814

461,288

Shareholders' funds

 

4,312,188

4,287,662

 

Moggers Limited

Balance Sheet

31 October 2023

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.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 March 2024 and signed on its behalf by:
 

.........................................
Mr J A G Hartshorne
Director

Company Registration Number: 11327509

 

Moggers Limited

Notes to the Unaudited Financial Statements

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:
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

These financial statements were authorised for issue by the Board on 28 March 2024.

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.

Statement of compliance

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 Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention. The functional currency of Moggers Limited is considered to be pounds sterling because this is the currency of the primary economic environment in which the company operates.

Revenue recognition

Turnover is the total amount of rent receivable by the company on properties let during the period and consultancy fees earned. Rental income is recognised evenly over the rental period and consultancy fees recognised in the period to which they relate.

Depreciation

Asset class

Depreciation method and rate

Freehold property

2% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable property determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

 

Moggers Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

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

4

Investment properties

2023
£

At 1 November

2,375,999

Additions

95,589

At 31 October

2,471,588

 

Moggers Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2023

5

Investments

Subsidiary undertakings
£

Cost or valuation

At 1 November 2022

1

Disposals

(1)

At 31 October 2023

-

Carrying amount

At 31 October 2023

-

At 31 October 2022

1

Details of undertakings

Details of the investments in which the company holds share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Follaton Limited

Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

Ordinary

0%

100%

 

     

Follaton Limited was dormant. The company was dissolved on 2 May 2023.

 

Moggers Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2023

6

Other financial assets

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 November 2022

1,153,662

1,153,662

Disposals

(326,232)

(326,232)

At 31 October 2023

827,430

827,430

Carrying amount

At 31 October 2023

827,430

827,430

At 31 October 2022

1,153,662

1,153,662

7

Debtors

2023
£

2022
£

Trade debtors

126

256

Amounts owed by group undertakings and undertakings in which the company has a participating interest

-

99,116

Other debtors

817

818

Prepayments

264

1,747

1,207

101,937

 

Moggers Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2023

8

Creditors

2023
 £

2022
 £

Due within one year

Trade creditors

4,225

483

Other creditors

-

1

Accruals and deferred income

3,001

4,490

7,226

4,974

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,094

1,094

1,100

1,100

Ordinary A shares of £1 (2022 - £0) each

6

6

-

-

 

1,100

1,100

1,100

1,100

During the year 6 Ordinary shares were reclassified as "A" Ordinary shares of £1 each.