Registration number:
Moriah House Limited
for the Year Ended 31 December 2023
Moriah House Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Moriah House Limited
Company Information
Director |
Mr Paul Hearn |
Registered office |
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Accountants |
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Moriah House Limited
(Registration number: 05332303)
Balance Sheet as at 31 December 2023
Note |
31 December |
31 December |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
178,576 |
178,576 |
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Revaluation reserve |
859,793 |
859,793 |
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Retained earnings |
(12,829) |
263,163 |
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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:
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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
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Moriah House Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Moriah House Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Amortisation |
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At 1 January 2023 |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
- |
- |
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
- |
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- |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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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
Stocks |
31 December |
31 December |
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Other inventories |
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Debtors |
Current |
Note |
31 December |
31 December |
Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Moriah House Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
Note |
31 December |
31 December |
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Due within one year |
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Loans and borrowings |
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trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
31 December |
31 December |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
31 December |
31 December |
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No. |
£ |
No. |
£ |
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178,576 |
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178,576 |
Moriah House Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Loans and borrowings |
31 December |
31 December |
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Non-current loans and borrowings |
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Bank borrowings |
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31 December |
31 December |
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Current loans and borrowings |
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Bank borrowings |
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Related party transactions |
Summary of transactions with other related parties
The loans are interest free and repayable on demand.
Loans to related parties
2023 |
Parent |
Other related parties |
Total |
At start of period |
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Advanced |
- |
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Repaid |
- |
( |
( |
At end of period |
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2022 |
Parent |
Other related parties |
Total |
At start of period |
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Advanced |
- |
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Repaid |
- |
( |
( |
At end of period |
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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 |
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Advanced |
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At end of period |
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31 March 2022 |
Other related parties |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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