Registered number
01812934
Moorhouse Properties Limited
Filleted Accounts
31 May 2024
Moorhouse Properties Limited
Registered number: 01812934
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 425,106 675,831
Current assets
Debtors 4 1,266 -
Cash at bank and in hand 34,454 14
35,720 14
Creditors: amounts falling due within one year 5 113,696 (47,297)
Net current assets/(liabilities) 149,416 (47,283)
Net assets 574,522 628,548
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 20,000 20,000
Profit and loss account 554,422 608,448
Shareholders' funds 574,522 628,548
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs MA Hodgkinson
Director
Approved by the board on 5 October 2024
Moorhouse Properties Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes where applicable. Turnover includes revenue earned from property rentals.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Long leasehold buildings over 50 years
Fixtures, fittings, tools and equipment 20% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Furniture & fittings Total
£ £ £
Cost
At 1 June 2023 716,059 99,475 815,534
Additions 9,000 - 9,000
Disposals (250,696) - (250,696)
At 31 May 2024 474,363 99,475 573,838
Depreciation
At 1 June 2023 49,571 90,132 139,703
Charge for the year 7,160 1,869 9,029
At 31 May 2024 56,731 92,001 148,732
Net book value
At 31 May 2024 417,632 7,474 425,106
At 31 May 2023 666,488 9,343 675,831
4 Debtors 2024 2023
£ £
Other debtors 1,266 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 770 -
Taxation and social security costs (168) 3,195
Other creditors (114,298) 44,102
(113,696) 47,297
6 Revaluation reserve 2024 2023
£ £
At 1 June 2023 20,000 20,000
At 31 May 2024 20,000 20,000
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs MA Hodgkinson
[Loan 1] - - - 116,597
- - - 116,597
8 Controlling party
The company is controlled by Mrs PA Davies and Mr JA Hodgkinson, directors.
9 Other information
Moorhouse Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Studio House
43a Lovelace Road
Long Ditton
Surbiton
KT6 6NZ
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