Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr J Peacock 23/01/2020 25 October 2024 The principal activity of the Company during the financial period was that of an investment property company. 12421731 2024-03-31 12421731 bus:Director1 2024-03-31 12421731 2023-03-31 12421731 core:CurrentFinancialInstruments 2024-03-31 12421731 core:CurrentFinancialInstruments 2023-03-31 12421731 core:Non-currentFinancialInstruments 2024-03-31 12421731 core:Non-currentFinancialInstruments 2023-03-31 12421731 core:ShareCapital 2024-03-31 12421731 core:ShareCapital 2023-03-31 12421731 core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 12421731 core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 12421731 core:RetainedEarningsAccumulatedLosses 2024-03-31 12421731 core:RetainedEarningsAccumulatedLosses 2023-03-31 12421731 bus:OrdinaryShareClass1 2024-03-31 12421731 2023-04-01 2024-03-31 12421731 bus:FilletedAccounts 2023-04-01 2024-03-31 12421731 bus:SmallEntities 2023-04-01 2024-03-31 12421731 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12421731 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12421731 bus:Director1 2023-04-01 2024-03-31 12421731 2022-04-01 2023-03-31 12421731 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 12421731 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 12421731 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12421731 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12421731 (England and Wales)

MOAT UNITS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

MOAT UNITS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

MOAT UNITS LIMITED

BALANCE SHEET

As at 31 March 2024
MOAT UNITS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 175,000 150,000
175,000 150,000
Current assets
Debtors 4 35,000 2,000
Cash at bank and in hand 2,453 384
37,453 2,384
Creditors: amounts falling due within one year 5 ( 46,358) ( 11,501)
Net current liabilities (8,905) (9,117)
Total assets less current liabilities 166,095 140,883
Creditors: amounts falling due after more than one year 6 ( 28,691) ( 34,259)
Provision for liabilities ( 30,473) ( 18,749)
Net assets 106,931 87,875
Capital and reserves
Called-up share capital 7 1 1
Fair value reserve 91,417 79,930
Profit and loss account 15,513 7,944
Total shareholder's funds 106,931 87,875

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Moat Units Limited (registered number: 12421731) were approved and authorised for issue by the Director on 25 October 2024. They were signed on its behalf by:

Mr J Peacock
Director
MOAT UNITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
MOAT UNITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Moat Units 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 The Pottery, Moorhaven, Ivybridge, PL21 0HB, United Kingdom.

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 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 £.

Turnover

Revenue from rental income is recognised in the period to which occupancy occurred. Revenue from land and property development is recognised on exchange of contracts.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 150,000
Additions 1,789
Fair value movement 23,211
As at 31 March 2024 175,000

Valuation

The investment property was valued at £175,000 by the directors at the date of the financial statements.

4. Debtors

2024 2023
£ £
Other debtors 35,000 2,000

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 5,568 5,556
Trade creditors 19 0
Amounts owed to joint ventures 1,270 243
Accruals 2,300 3,200
Taxation and social security 1,760 1,157
Other creditors 35,441 1,345
46,358 11,501

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 28,691 34,259

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

Other related party transactions

During the year Moat Units Limited owed Moorhaven Holdings Limited £33,906 (2023: £385). A company in which Mr J Peacock is a director.