0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 700,000 700,000 700,000 xbrli:pure xbrli:shares iso4217:GBP 10918824 2023-04-01 2024-03-31 10918824 2024-03-31 10918824 2023-03-31 10918824 2022-04-01 2023-03-31 10918824 2023-03-31 10918824 2022-03-31 10918824 bus:Director1 2023-04-01 2024-03-31 10918824 core:WithinOneYear 2024-03-31 10918824 core:WithinOneYear 2023-03-31 10918824 core:AfterOneYear 2024-03-31 10918824 core:AfterOneYear 2023-03-31 10918824 core:ShareCapital 2024-03-31 10918824 core:ShareCapital 2023-03-31 10918824 core:OtherReservesSubtotal 2024-03-31 10918824 core:OtherReservesSubtotal 2023-03-31 10918824 core:RetainedEarningsAccumulatedLosses 2024-03-31 10918824 core:RetainedEarningsAccumulatedLosses 2023-03-31 10918824 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 10918824 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 10918824 bus:SmallEntities 2023-04-01 2024-03-31 10918824 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10918824 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10918824 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10918824 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 10918824
Austin Moore Limited
Filleted Unaudited Financial Statements
31 March 2024
Austin Moore Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
700,000
700,000
Current assets
Debtors
5
55,000
Cash at bank and in hand
10,228
25,106
--------
--------
10,228
80,106
Creditors: amounts falling due within one year
6
267,126
207,023
---------
---------
Net current liabilities
256,898
126,917
---------
---------
Total assets less current liabilities
443,102
573,083
Creditors: amounts falling due after more than one year
7
148,091
321,915
Provisions
30,823
24,897
---------
---------
Net assets
264,188
226,271
---------
---------
Capital and reserves
Called up share capital
100
100
Fair value reserves
45,123
45,123
Profit and loss account
218,965
181,048
---------
---------
Shareholders funds
264,188
226,271
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Austin Moore Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 2 September 2024 , and are signed on behalf of the board by:
Mr A Moore
Director
Company registration number: 10918824
Austin Moore Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 The Ropewalk, Nottingham, NG1 5DU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the rents receivable, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Investment property
£
Cost
At 1 April 2023 and 31 March 2024
700,000
---------
Depreciation
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
700,000
---------
At 31 March 2023
700,000
---------
The directors consider that the investment property is held at its fair value.
5. Debtors
2024
2023
£
£
Other debtors
55,000
----
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
12,838
28,402
Trade creditors
2,063
Corporation tax
7,972
12,031
Social security and other taxes
3,304
2,980
Other creditors
243,012
161,547
---------
---------
267,126
207,023
---------
---------
The bank loans and overdrafts are secured by a fixed and floating charge by Lloyds Bank Plc.
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
148,091
321,915
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £96,743 (2023: £202,450) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loans and overdraft are secured by a fixed and floating charge by Lloyds Bank Plc.