Registered number
13363382
Morester Ltd
Filleted Accounts
31 October 2023
Morester Ltd
Registered number: 13363382
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 979,616 736,015
Current assets
Debtors 4 16,932 83,695
Cash at bank and in hand 859 21,309
17,791 105,004
Creditors: amounts falling due within one year 5 (10,511) (1,348)
Net current assets 7,280 103,656
Total assets less current liabilities 986,896 839,671
Creditors: amounts falling due after more than one year 6 (978,687) (847,514)
Net assets/(liabilities) 8,209 (7,843)
Capital and reserves
Called up share capital 1 1
Profit and loss account 8,208 (7,844)
Shareholder's funds 8,209 (7,843)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Jacob Gluck
Director
Approved by the board on 17 December 2023
Morester Ltd
Notes to the Accounts
for the period from 1 May 2022 to 31 October 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2022 736,015 - 736,015
Additions 239,441 5,200 244,641
At 31 October 2023 975,456 5,200 980,656
Depreciation
Charge for the period - 1,040 1,040
At 31 October 2023 - 1,040 1,040
Net book value
At 31 October 2023 975,456 4,160 979,616
At 30 April 2022 736,015 - 736,015
4 Debtors 2023 2022
£ £
Trade debtors 16,932 38,143
Other debtors - 45,552
16,932 83,695
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 749
Taxation and social security costs 339 -
Other creditors 10,172 599
10,511 1,348
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 736,998 620,334
Long term related party undertakings 241,689 227,180
978,687 847,514
7 Other information
Morester Ltd is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
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