Company Registration No. 08641931 (England and Wales)
10 MORETON TERRACE (FREEHOLD) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
10 MORETON TERRACE (FREEHOLD) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
10 MORETON TERRACE (FREEHOLD) LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
54,891
54,891
Current assets
-
-
Creditors: amounts falling due within one year
4
(59,788)
(59,788)
Net current liabilities
(59,788)
(59,788)
Total assets less current liabilities
(4,897)
(4,897)
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
(4,900)
(4,900)
Total equity
(4,897)
(4,897)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 15 October 2024 and are signed on its behalf by:
N A Swengley
Director
Company Registration No. 08641931
10 MORETON TERRACE (FREEHOLD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

10 Moreton Terrace (Freehold) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Moreton Terrace, London, SW1V 2NX.

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. The principal accounting policies adopted are set out below.

1.2
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.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. Depreciation is not charged on the freehold of land and building.

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.

1.3
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.

1.4
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 balance sheet 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 liabilities

Basic financial liabilities, including creditors 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

10 MORETON TERRACE (FREEHOLD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2
Employees

There were no employees during the current or comparative year.

3
Tangible fixed assets
Land and buildings freehold
£
Cost
At 1 September 2023 and 31 August 2024
54,891
Depreciation and impairment
At 1 September 2023 and 31 August 2024
-
0
Carrying amount
At 31 August 2024
54,891
At 31 August 2023
54,891
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
58,924
58,924
Accruals and deferred income
864
864
59,788
59,788
10 MORETON TERRACE (FREEHOLD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
5
Related party transactions

As at the year end, a total amount of £58,924 (2023: £58,924) was owed to the directors by the company and no interest has been charged on this loan.

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