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Company No: 02939299 (England and Wales)

MOLWIN ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 29 October 2023
Pages for filing with the registrar

MOLWIN ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 29 October 2023

Contents

MOLWIN ESTATES LIMITED

BALANCE SHEET

As at 29 October 2023
MOLWIN ESTATES LIMITED

BALANCE SHEET (continued)

As at 29 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 148 197
148 197
Current assets
Stocks 108,131 108,131
Debtors 4 386,949 386,949
Cash at bank and in hand 0 2,018
495,080 497,098
Creditors: amounts falling due within one year 5 ( 138,526) ( 140,231)
Net current assets 356,554 356,867
Total assets less current liabilities 356,702 357,064
Net assets 356,702 357,064
Capital and reserves
Called-up share capital 6 12,529 12,529
Share premium account 740,472 740,472
Other reserves 1 1
Profit and loss account ( 396,300 ) ( 395,938 )
Total shareholders' funds 356,702 357,064

For the financial year ending 29 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Molwin Estates Limited (registered number: 02939299) were approved and authorised for issue by the Board of Directors on 03 October 2024. They were signed on its behalf by:

Brian Lory Cordall
Director
MOLWIN ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 October 2023
MOLWIN ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Molwin Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 30 October 2022 14,463 14,463
At 29 October 2023 14,463 14,463
Accumulated depreciation
At 30 October 2022 14,266 14,266
Charge for the financial year 49 49
At 29 October 2023 14,315 14,315
Net book value
At 29 October 2023 148 148
At 29 October 2022 197 197

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 386,949 386,949

5. Creditors: amounts falling due within one year

2023 2022
£ £
Other taxation and social security 3,625 4,113
Other creditors 134,901 136,118
138,526 140,231

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50,116 Ordinary shares of £ 0.25 each 12,529 12,529