0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,750,000 750,000 2,000,000 2,000,000 2,750,000 xbrli:pure xbrli:shares iso4217:GBP 02737952 2023-01-01 2023-12-31 02737952 2023-12-31 02737952 2022-12-31 02737952 2022-01-01 2022-12-31 02737952 2022-12-31 02737952 2021-12-31 02737952 bus:Director2 2023-01-01 2023-12-31 02737952 core:WithinOneYear 2023-12-31 02737952 core:WithinOneYear 2022-12-31 02737952 core:AfterOneYear 2023-12-31 02737952 core:AfterOneYear 2022-12-31 02737952 core:ShareCapital 2023-12-31 02737952 core:ShareCapital 2022-12-31 02737952 core:RevaluationReserve 2023-12-31 02737952 core:RevaluationReserve 2022-12-31 02737952 core:RetainedEarningsAccumulatedLosses 2023-12-31 02737952 core:RetainedEarningsAccumulatedLosses 2022-12-31 02737952 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 02737952 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 02737952 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 02737952 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02737952 bus:SmallEntities 2023-01-01 2023-12-31 02737952 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02737952 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02737952 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02737952 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 02737952
Mosscope Limited
Filleted Unaudited Financial Statements
31 December 2023
Mosscope Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
2,000,000
2,750,000
Current assets
Cash at bank and in hand
56,094
57,619
Creditors: amounts falling due within one year
5
465,693
503,815
---------
---------
Net current liabilities
409,599
446,196
------------
------------
Total assets less current liabilities
1,590,401
2,303,804
Creditors: amounts falling due after more than one year
6
175,617
229,342
Provisions
Taxation including deferred tax
226,586
414,086
------------
------------
Net assets
1,188,198
1,660,376
------------
------------
Mosscope Limited
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
400
400
Revaluation reserve
976,210
1,538,710
Profit and loss account
211,588
121,266
------------
------------
Shareholders funds
1,188,198
1,660,376
------------
------------
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.
For the year ending 31 December 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 were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mrs L Marwaha
Director
Company registration number: 02737952
Mosscope Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Egerton Gardens, Seven Kings, Ilford, Essex IG3 9HP.
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 represents rent receivable during the year. 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. Rental income is recognised on an accrual basis in accordance with the substance of the relevant agreement.
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.
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.
Investment property
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.
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
Freehold property
£
Cost or valuation
At 1 January 2023
2,750,000
Revaluations
( 750,000)
------------
At 31 December 2023
2,000,000
------------
Depreciation
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
2,000,000
------------
At 31 December 2022
2,750,000
------------
The company's investment property was revalued on a fair value basis by the director on 31 December 2023.
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
24,000
103,670
Corporation tax
28,357
23,903
Other creditors
413,336
376,242
---------
---------
465,693
503,815
---------
---------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
175,617
229,342
---------
---------
7. Creditors
Bank loan of £199,617 (2022 - £332,950) is secured by a fixed and floating charge over the company's assets.