Moriah House Limited 05332303 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Care Home provider. Digita Accounts Production Advanced 6.30.9574.0 true true 05332303 2023-01-01 2023-12-31 05332303 2023-12-31 05332303 bus:OrdinaryShareClass1 2023-12-31 05332303 core:CurrentFinancialInstruments 2023-12-31 05332303 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05332303 core:Non-currentFinancialInstruments 2023-12-31 05332303 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 05332303 core:Goodwill 2023-12-31 05332303 core:FurnitureFittingsToolsEquipment 2023-12-31 05332303 core:LandBuildings 2023-12-31 05332303 core:OtherPropertyPlantEquipment 2023-12-31 05332303 core:OtherRelatedParties 2023-12-31 05332303 core:ParentEntities 2023-12-31 05332303 bus:SmallEntities 2023-01-01 2023-12-31 05332303 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05332303 bus:FullAccounts 2023-01-01 2023-12-31 05332303 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05332303 bus:RegisteredOffice 2023-01-01 2023-12-31 05332303 bus:Director1 2023-01-01 2023-12-31 05332303 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05332303 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05332303 core:Goodwill 2023-01-01 2023-12-31 05332303 core:ConstructionInProgressAssetsUnderConstruction 2023-01-01 2023-12-31 05332303 core:FurnitureFittings 2023-01-01 2023-12-31 05332303 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05332303 core:LandBuildings 2023-01-01 2023-12-31 05332303 core:MotorVehicles 2023-01-01 2023-12-31 05332303 core:OfficeEquipment 2023-01-01 2023-12-31 05332303 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 05332303 core:PlantMachinery 2023-01-01 2023-12-31 05332303 core:OtherRelatedParties 2023-01-01 2023-12-31 05332303 core:ParentEntities 2023-01-01 2023-12-31 05332303 countries:EnglandWales 2023-01-01 2023-12-31 05332303 2022-12-31 05332303 core:Goodwill 2022-12-31 05332303 core:FurnitureFittingsToolsEquipment 2022-12-31 05332303 core:LandBuildings 2022-12-31 05332303 core:OtherPropertyPlantEquipment 2022-12-31 05332303 core:OtherRelatedParties 2022-12-31 05332303 core:ParentEntities 2022-12-31 05332303 2022-01-01 2022-12-31 05332303 2022-12-31 05332303 bus:OrdinaryShareClass1 2022-12-31 05332303 core:CurrentFinancialInstruments 2022-12-31 05332303 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05332303 core:Non-currentFinancialInstruments 2022-12-31 05332303 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 05332303 core:FurnitureFittingsToolsEquipment 2022-12-31 05332303 core:LandBuildings 2022-12-31 05332303 core:OtherPropertyPlantEquipment 2022-12-31 05332303 core:OtherRelatedParties 2022-12-31 05332303 core:ParentEntities 2022-12-31 05332303 core:OtherRelatedParties 2022-01-01 2022-12-31 05332303 core:ParentEntities 2022-01-01 2022-12-31 05332303 2021-12-31 05332303 core:OtherRelatedParties 2021-12-31 05332303 core:ParentEntities 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05332303

Moriah House Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

Moriah House Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Moriah House Limited

Company Information



 

Director

Mr Paul Hearn

Registered office

The TAX Partnership
2 Cheapside
Derby
Derbyshire
DE1 1BR

Accountants

The TAX Partnership
2 Cheapside
Derby
Derbyshire
DE1 1BR

 

Moriah House Limited

(Registration number: 05332303)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

31 December
2022
£

Fixed assets

 

Tangible assets

5

2,311,162

2,362,891

Current assets

 

Stocks

6

1,800

1,800

Debtors

7

3,305,354

3,325,183

Cash at bank and in hand

 

75,459

84,801

 

3,382,613

3,411,784

Creditors: Amounts falling due within one year

8

(2,554,259)

(2,241,667)

Net current assets

 

828,354

1,170,117

Total assets less current liabilities

 

3,139,516

3,533,008

Creditors: Amounts falling due after more than one year

8

(2,007,292)

(2,124,792)

Provisions for liabilities

(106,684)

(106,684)

Net assets

 

1,025,540

1,301,532

Capital and reserves

 

Called up share capital

9

178,576

178,576

Revaluation reserve

859,793

859,793

Retained earnings

(12,829)

263,163

Shareholders' funds

 

1,025,540

1,301,532

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Moriah House Limited

(Registration number: 05332303)
Balance Sheet as at 31 December 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2024
 

.........................................
Mr Paul Hearn
Director

 

Moriah House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The TAX Partnership
2 Cheapside
Derby
Derbyshire
DE1 1BR
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's business activities, cash flow and results are dependent on the occupancy rates being maintained and on funding availability. The Director is confident that these are sufficient for the business to continue in operational existence for the foreseeable future. The Director is aware that the bank loan facility currently in place, and which is relied on by the company in order to finance its activities, will require renewal in July 2020, and negotiations in respect of this have not yet begun. However the director is confident that the facility will be renewed and therefore the company continues to adopt the going concern basis in the preparation of the financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

 

Moriah House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Judgements

In preparing these financial statements, the director has made the following judgements

Determine whether there are indicators of impairment of the company's tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic conditions and estimated market value of these assets.

Key sources of estimation uncertainty

Tangible Fixed Assets

Tangible fixed assets, included at deemed cost, are depreciated over their useful lives taking into account residual values, where appropriate. The land value, the estimated lives of the assets and their residual values are assessed annually and may vary depending on a number of factors. In addition, deferred tax is provided on the difference between the deemed cost and indexed cost of the property.

Revenue recognition

Turnover represents the amounts chargeable during the period in respect of the provision of care services. The company recognises revenue when it can be reliably measured and it is probable that future economic benefit will flow to the entity.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Freehold properties are measured at deemed cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Other tangible assets are measured at cost less accumulated depreciation.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Moriah House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and property improvements over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

42 years

Improvements to property

in line with the property

Plant and machinery

10% on reducing balance

Fixtures and fittings

10% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

25% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

 

Moriah House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 41 (2022 - 53).

 

Moriah House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

50,000

50,000

At 31 December 2023

50,000

50,000

Amortisation

At 1 January 2023

50,000

50,000

At 31 December 2023

50,000

50,000

Carrying amount

At 31 December 2023

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

2,536,707

335,685

25,000

2,897,392

Additions

-

10,802

-

10,802

At 31 December 2023

2,536,707

346,487

25,000

2,908,194

Depreciation

At 1 January 2023

325,424

188,133

20,944

534,501

Charge for the year

46,313

15,812

406

62,531

At 31 December 2023

371,737

203,945

21,350

597,032

Carrying amount

At 31 December 2023

2,164,970

142,542

3,650

2,311,162

At 31 December 2022

2,211,283

147,552

4,056

2,362,891

Included within the net book value of land and buildings above is £2,164,970 (2022 - £2,211,283) in respect of freehold land and buildings.
 

 

Moriah House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Stocks

31 December
2023
£

31 December
2022
£

Other inventories

1,800

1,800

7

Debtors

Current

Note

31 December
2023
£

31 December
2022
£

Trade debtors

 

63,404

86,388

Amounts owed by related parties

11

3,222,340

3,217,340

Prepayments

 

19,610

21,455

   

3,305,354

3,325,183

 

Moriah House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

Note

31 December
2023
£

31 December
2022
£

Due within one year

 

Loans and borrowings

10

117,500

117,500

trade creditors

 

34,549

19,806

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

2,280,437

1,969,437

Taxation and social security

 

13,134

24,334

Accruals and deferred income

 

103,521

107,952

Other creditors

 

5,118

2,638

 

2,554,259

2,241,667

Creditors: amounts falling due after more than one year

Note

31 December
2023
£

31 December
2022
£

Due after one year

 

Loans and borrowings

10

2,007,292

2,124,792

9

Share capital

Allotted, called up and fully paid shares

 

31 December
2023

31 December
2022

 

No.

£

No.

£

Ordinary of £1 each

178,576

178,576

178,576

178,576

         
 

Moriah House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

10

Loans and borrowings

31 December
2023
£

31 December
2022
£

Non-current loans and borrowings

Bank borrowings

2,007,292

2,124,792

31 December
2023
£

31 December
2022
£

Current loans and borrowings

Bank borrowings

117,500

117,500

11

Related party transactions

Summary of transactions with other related parties

Included in debtors and creditors are amounts owing to/from related companies under common control.
The loans are interest free and repayable on demand.

 

Loans to related parties

2023

Parent
£

Other related parties
£

Total
£

At start of period

1,736,000

1,481,340

3,217,340

Advanced

-

55,000

55,000

Repaid

-

(50,000)

(50,000)

At end of period

1,736,000

1,486,340

3,222,340

2022

Parent
£

Other related parties
£

Total
£

At start of period

1,736,000

1,164,153

2,900,153

Advanced

-

339,187

339,187

Repaid

-

(22,000)

(22,000)

At end of period

1,736,000

1,481,340

3,217,340

 

Moriah House Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Loans from related parties

31 December 2023

Other related parties
£

Total
£

At start of period

1,969,437

1,969,437

Advanced

311,000

311,000

At end of period

2,280,437

2,280,437

31 March 2022

Other related parties
£

Total
£

At start of period

387,000

387,000

Advanced

1,587,437

1,587,437

Repaid

(5,000)

(5,000)

At end of period

1,969,437

1,969,437