Company registration number 10334112 (England and Wales)
Big Moose Housing Limited
Unaudited financial statements
For the year ended 31 January 2024
Big Moose Housing Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
Big Moose Housing Limited
Statement of financial position
As at 31 January 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,290
9,299
Investment property
4
1,325,000
1,266,061
1,333,290
1,275,360
Current assets
Debtors
5
5,982
867
Cash at bank and in hand
78,514
73,591
84,496
74,458
Creditors: amounts falling due within one year
6
(1,000,018)
(1,017,049)
Net current liabilities
(915,522)
(942,591)
Total assets less current liabilities
417,768
332,769
Creditors: amounts falling due after more than one year
7
(232,861)
(241,099)
Provisions for liabilities
(16,500)
(6,200)
Net assets
168,407
85,470
Capital and reserves
Called up share capital
10
10
Non-distributable profits reserve
9
63,475
15,736
Distributable profit and loss reserves
104,922
69,724
Total equity
168,407
85,470
Big Moose Housing Limited
Statement of financial position (continued)
As at 31 January 2024
31 January 2024
- 2 -

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 30 September 2024
Mr A J Trippett
Director
Company registration number 10334112 (England and Wales)
Big Moose Housing Limited
Notes to the financial statements
For the year ended 31 January 2024
- 3 -
1
Accounting policies
Company information

Big Moose Housing Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Estate Offices, Blackfriars Road, Newcastle under Lyme, Staffordshire, England, ST5 2EB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue from rentals of property are recognised when the amount of revenue can be measured reliably, it is probable that the economical benefits associated with the transactions will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Fixtures and fittings
10% reducing balance
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Big Moose Housing Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, loans from group companies and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Big Moose Housing Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 February 2023 and 31 January 2024
2,084
12,570
519
15,173
Depreciation and impairment
At 1 February 2023
1,675
3,790
409
5,874
Depreciation charged in the year
102
879
28
1,009
At 31 January 2024
1,777
4,669
437
6,883
Carrying amount
At 31 January 2024
307
7,901
82
8,290
At 31 January 2023
409
8,780
110
9,299
Big Moose Housing Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
- 6 -
4
Investment property
2024
£
Fair value
At 1 February 2023
1,266,061
Revaluations
58,939
At 31 January 2024
1,325,000

Investment property comprises residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,900
-
0
Other debtors
1,082
867
5,982
867
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,906
9,875
Taxation and social security
10,743
11,261
Other creditors
980,369
995,913
1,000,018
1,017,049
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
232,861
241,099
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
193,666
199,126
Big Moose Housing Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
- 7 -
8
Secured debts

The bank loans are secured by way of a fixed and floating charge over the property.

9
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
15,736
15,736
Non distributable profits in the year
47,739
-
At the end of the year
63,475
15,736
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