REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
31 DECEMBER 2022 TO 29 DECEMBER 2023 |
FOR |
MORELAND PROPERTY GROUP LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
31 DECEMBER 2022 TO 29 DECEMBER 2023 |
FOR |
MORELAND PROPERTY GROUP LIMITED |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Accountants' Report | 18 |
MORELAND PROPERTY GROUP LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Russell House |
140 High Street |
Edgware |
HA8 7LW |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
BALANCE SHEET |
29 DECEMBER 2023 |
29.12.23 | 30.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
BALANCE SHEET - continued |
29 DECEMBER 2023 |
The financial statements were approved by the director and authorised for issue on |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Moreland Property Group Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Cash and cash equivalent |
Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no state interest rate and receivable or payable within one year are recoded at transactions price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 31 December 2022 |
and 29 December 2023 |
NET BOOK VALUE |
At 29 December 2023 |
At 30 December 2022 |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
Residential Freeholds Ltd |
Registered office: United Kingdom |
Nature of business: investments |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 366,358 | 454,216 |
Profit for the period | 162,142 | 172,401 |
Buy To Let Investments Ltd |
Registered office: United Kingdom |
Nature of business: real estate |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 437,160 | 431,100 |
Profit/(loss) for the period | 6,060 | 35,784 |
MP Group Services Ltd |
Registered office: United Kingdom |
Nature of business: real estate |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 27,073 | 23,347 |
Profit/(loss) for the period | 3,725 | 22,895 |
Elyar Properties Ltd |
Registered office: United Kingdom |
Nature of business: real estate |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 63,179 | 55,009 |
Profit for the period | 8,170 | 3,645 |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
The Student Hotel Ltd |
Registered office: United Kingdom |
Nature of business: dormant |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 2 | 2 |
Profit for the period | - | - |
Moreland Asset Management Ltd |
Registered office: United Kingdom |
Nature of business: dormant |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 100 | 100 |
Profit for the period | - | - |
9 Rosary Gardens SW7 4NN Ltd |
Registered office: United Kingdom |
Nature of business: real estate |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 12,598 | 12,598 |
Profit for the period | - | - |
Edmund Kirby Ltd |
Registered office: United Kingdom |
Nature of business: real estate |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 20,186 | 12,773 |
Profit for the period | 7,413 | 3.123 |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
The Feathers Chester Street Wrexham Ltd |
Registered office: United Kingdom |
Nature of business: real estate |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 109,675 | 91,328 |
Profit for the period | 18,347 | 13,779 |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
Ground Rent Trst Ltd |
Registered office: United Kingdom |
Nature of business: real estate |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | - | - |
Profit for the period | - | - |
Freehold Reversions 4 Ltd |
Registered office: United Kingdom |
Nature of business: real estate |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 241,491 | 209,640 |
Profit for the period | 31,851 | 76,730 |
Dunphys Holdings Ltd |
Registered office: United Kingdom |
Nature of business: holding company |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 287,780 | 287,780 |
(Loss) for the period | - | (1,800 | ) |
Dunphys Ltd |
Registered office: United Kingdom |
Nature of business: other engineering activities |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | (5,981 | ) | 41,268 |
Profit/(loss) for the period | (47,249 | ) | 38,313 |
Reelstone Property Holdings Ltd |
Registered office: United Kingdom |
Nature of business: holding company |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 57,588 | 55,138 |
Profit/(loss) for the period | 202,450 | 143,701 |
Ground Rent Trading Ltd |
Registered office: United Kingdom |
Nature of business: investments |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 1,171,791 | 1,176,652 |
Profit/ (loss) for the period | (4,861 | ) | 12,166 |
8 Cole Street Ltd |
Registered office: United Kingdom |
Nature of business: investments |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | (52,832 | ) | (52,832 | ) |
Profit for the period | - | - |
Ground Rent Trading (Liverpool) Ltd |
Registered office: United Kingdom |
Nature of business: real estate |
% |
Class of shares | Holding |
Ordinary | 100.00 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | 33,287 | 21,198 |
Profit for the period | 12,089 | 10,073 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.12.23 | 30.12.22 |
£ | £ |
Amounts owed by group undertakings |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.12.23 | 30.12.22 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.12.23 | 30.12.22 |
£ | £ |
Bank loans (see note 8) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 4,868,008 | 4,965,417 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
29.12.23 | 30.12.22 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 4,868,008 | 4,965,417 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.12.23 | 30.12.22 |
value: | £ | £ |
Ordinary | 1 | 51,200 | 51,200 |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
10. | RESERVES |
Retained |
earnings |
£ |
At 31 December 2022 |
Profit for the period |
Dividends | ( |
) |
At 29 December 2023 |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
11. | RELATED PARTY DISCLOSURES |
Yishlet Properties Limited |
A company under common control. |
The amount is repayable on demand |
2023 | 2022 |
£ |
Amount due to related party at the balance sheet date | 1,690 | 1,690 |
Lighthouse Building Management Ltd |
A company under common control. |
The amount is repayable on demand |
2023 | 2022 |
£ |
Amount due to related party at the balance sheet date | 40,000 | 40,000 |
Friars House Aylesbury Limited |
A company under common control. |
The amount is repayable on demand |
2023 | 2022 |
£ |
Amount due to related party at the balance sheet date | 50,000 | 50,000 |
Dunphys Holdings Limited |
A company under common control. |
The amount is repayable on demand |
2023 | 2022 |
£ |
Amount due to related party at the balance sheet date | 164,060 | 200,000 |
Moreland Estate Management Ltd |
A company under common control. |
The amount is repayable on demand |
2023 | 2022 |
£ |
Amount due from related party at the balance sheet date | 153,024 | - |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
Moreland Estate Property Management Ltd |
A company under common control. |
The amount is repayable on demand |
2023 | 2022 |
£ |
Amount due from related party at the balance sheet date | 109,157 | - |
Reelstone Property Holdings Limited |
A wholly owned subsidiary of the company |
Other income relates to a dividend received of £200,000 (2022: £140,000) from Reelstone Property Holdings Limited. |
The amount is payable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 1,442,946 | 1,265,023 |
Ground Rent Trading Limited |
A wholly owned subsidiary of the company |
The amount is payable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due to related party at the balance sheet date | 412,881 | 368,309 |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
11. | RELATED PARTY DISCLOSURES - continued |
The directors |
The following advances and credits to a director subsisted during the years ended 31 December 2021 and |
30 December 2020: |
2023 | 2022 |
£ | £ |
The directors: |
Balance outstanding at start of year | (15,294 | ) | (13,428 | ) |
Amounts advanced | 364,620 | 318,134 |
Amounts repaid | (61,871 | ) | - |
Dividends paid to directors | (300,000 | ) | (320,000 | ) |
Balance outstanding at end of year | (12,545 | ) | (15,294 | ) |
MP Group Services Ltd |
A wholly owned subsidiary of the company |
The amount is payable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 840,865 | 828,297 |
Residential Freeholds Ltd |
A wholly owned subsidiary of the company |
Other income relates to a dividend received of £250,000 (2022: £100,000) from Residential Freeholds Ltd. |
The amount is payable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 1,962,980 | 1,712,980 |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
11. | RELATED PARTY DISCLOSURES - continued |
Ground Rent Trading Liverpool Ltd |
A wholly owned subsidiary of the company |
The amount is payable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 140,677 | 91,374 |
Freehold Reversions 4 Ltd |
A wholly owned subsidiary of the company |
Other income relates to a dividend received of £Nil (2022: £50,000) from Freehold Reversions 4 Ltd. |
The amount is payable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 580,150 | 580,150 |
The Feathers Chester Ltd |
A wholly owned subsidiary of the company |
The amount is payable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 207,205 | 207,205 |
MORELAND PROPERTY GROUP LIMITED (REGISTERED NUMBER: 06998667) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
11. | RELATED PARTY DISCLOSURES - continued |
Chancery Lane Investments Ltd |
A company under common control |
The amount is payable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 144,791 | 144,791 |
MW Freeholds Ltd |
A company under common control |
Other income relates to a dividend received of £100,000 (2022: £Nil) from MW Freeholds Ltd. |
The amount is payable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 523,194 | 445,000 |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is the director.. |
ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MORELAND PROPERTY GROUP LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Moreland Property Group Limited for the period ended 29 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Moreland Property Group Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Moreland Property Group Limited and state those matters that we have agreed to state to the director of Moreland Property Group Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moreland Property Group Limited and its director for our work or for this report. |
It is your duty to ensure that Moreland Property Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Moreland Property Group Limited. You consider that Moreland Property Group Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Moreland Property Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Russell House |
140 High Street |
Edgware |
HA8 7LW |