REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
MOJO PROPCO LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
MOJO PROPCO LIMITED |
MOJO PROPCO LIMITED (REGISTERED NUMBER: 13880052) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MOJO PROPCO LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
10 Stadium Business Court |
Millennium Way |
Pride Park |
Derby |
Derbyshire |
DE24 8HP |
MOJO PROPCO LIMITED (REGISTERED NUMBER: 13880052) |
BALANCE SHEET |
31 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) |
Creditors |
Amounts falling due after more than one year |
6 |
( |
) |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MOJO PROPCO LIMITED (REGISTERED NUMBER: 13880052) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Mojo Propco Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors have agreed to continue to support the company and have deferred repayment of their loan accounts, therefore the accounts have been prepared on a going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
The directors have considered the fair value of the property at the reporting date to be £214,795. This fair value has been calculated based on historical purchase price and review of trends in the property market. No professional valuation has been obtained. The methods and significant assumptions applied in determining the fair value of the investment property include consideration of property trends and recent property sales local to the investment property, rental yield, and the condition of the property. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
MOJO PROPCO LIMITED (REGISTERED NUMBER: 13880052) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 February 2023 |
and 31 January 2024 |
Net book value |
At 31 January 2024 |
At 31 January 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 7) |
Trade creditors |
Other creditors |
Directors' loan accounts |
Accruals and deferred income |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 7) |
7. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between two and five years: |
Bank Loans | 127,961 | - |
Bank loans are secured by fixed and floating charges over the assets of the company, including a charge over the freehold property. Each mortgage is secured over the property to which it relates. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
9. | RELATED PARTY DISCLOSURES |
Included in Other Creditors is a loan from Monkey vs Owl Ltd, a company for which Christopher Monk is also a director and shareholder. The creditor as at the year end was £44,222. |
Balance of £1,000 due to CM Commercial Investments Ltd is also included in Other Creditors. Christopher Monk is a director and shareholder of CM Commercial Investments Ltd. |