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Company registration number: 06000331
Moorbeech Limited
Unaudited filleted financial statements
30 November 2023
Moorbeech Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Moorbeech Limited
Directors and other information
Directors M R Hamilton
A S Hamilton
B E Hamilton
R L Hamilton
Secretary B E Hamilton
Company number 06000331
Registered office Hamilton House
14 The Drive
Hove
East Sussex
BN3 3JA
Moorbeech Limited
Statement of financial position
30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 1,850,130 1,850,174
_______ _______
1,850,130 1,850,174
Current assets
Cash at bank and in hand 107,857 118,539
_______ _______
107,857 118,539
Creditors: amounts falling due
within one year 6 ( 735,579) ( 786,365)
_______ _______
Net current liabilities ( 627,722) ( 667,826)
_______ _______
Total assets less current liabilities 1,222,408 1,182,348
_______ _______
Net assets 1,222,408 1,182,348
_______ _______
Capital and reserves
Called up share capital 100,000 100,000
Revaluation reserve 657,237 657,237
Profit and loss account 465,171 425,111
_______ _______
Shareholders funds 1,222,408 1,182,348
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 July 2023 , and are signed on behalf of the board by:
M R Hamilton
Director
Company registration number: 06000331
Moorbeech Limited
Statement of changes in equity
Year ended 30 November 2023
Called up share capital Revaluation reserve Profit and loss account Total
£ £ £ £
At 1 December 2021 100,000 657,237 367,572 1,124,809
Profit for the year 57,539 57,539
_______ _______ _______ _______
Total comprehensive income for the year - - 57,539 57,539
_______ _______ _______ _______
At 30 November 2022 and 1 December 2022 100,000 657,237 425,111 1,182,348
Profit for the year 40,060 40,060
_______ _______ _______ _______
Total comprehensive income for the year - - 40,060 40,060
_______ _______ _______ _______
At 30 November 2023 100,000 657,237 465,171 1,222,408
_______ _______ _______ _______
Moorbeech Limited
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Hamilton House, 14 The Drive, Hove, East Sussex, BN3 3JA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income
Income is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - Not Depreciated
Plant and machinery - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Tangible assets
Freehold property Plant and machinery Total
£ £ £
Cost
At 1 December 2022 and 30 November 2023 1,850,000 9,767 1,859,767
_______ _______ _______
Depreciation
At 1 December 2022 - 9,593 9,593
Charge for the year - 44 44
_______ _______ _______
At 30 November 2023 - 9,637 9,637
_______ _______ _______
Carrying amount
At 30 November 2023 1,850,000 130 1,850,130
_______ _______ _______
At 30 November 2022 1,850,000 174 1,850,174
_______ _______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals 360 360
Corporation tax 9,407 13,510
Other creditors 725,812 772,495
_______ _______
735,579 786,365
_______ _______
7. Related party transactions
As at the balance sheet date the company owed £400,000 (2022 £400,000) to The Martin Reiss Hanson Trustees Ltd and £325,812 (2022 £372,495) to other associated companies in which the Directors have beneficial interests.