Registered number
11829131
Molly Gregory Ltd
Unaudited Filleted Accounts
31 March 2024
Molly Gregory Ltd
Registered number: 11829131
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 443,830 443,830
Current assets
Cash at bank and in hand 7,918 2,758
Creditors: amounts falling due within one year 4 (127,415) (113,738)
Net current liabilities (119,497) (110,980)
Total assets less current liabilities 324,333 332,850
Creditors: amounts falling due after more than one year 5 (267,936) (280,086)
Net assets 56,397 52,764
Capital and reserves
Called up share capital 1 1
Profit and loss account 56,396 52,763
Shareholder's funds 56,397 52,764
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Miss M B Gregory
Director
Approved by the board on 6 November 2024
Molly Gregory Ltd
Notes to the Accounts
for the year ended 31 March 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. Turnover includes revenue earned from the rental of properties.
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:
Freehold buildings Not depreciated
Leasehold land and buildings Not depreciated
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. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 443,830
At 31 March 2024 443,830
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 443,830
At 31 March 2023 443,830
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 12,000 10,000
Trade creditors 300 225
Taxation and social security costs 1,088 2,646
Other creditors 114,027 100,867
127,415 113,738
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 267,936 280,086
6 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 240,086 240,086
Secured bank loans 290,086 290,086
All properties are secured by mortgage
7 Other information
Molly Gregory Ltd is a private company limited by shares and incorporated in England. Its registered office is:
291 Franciscan Road
London
SW17 8HE
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