Company registration number 03063478 (England and Wales)
MOSS FOLD PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
Ridehalgh Limited
Chartered Accountants
Guardian House
42 Preston New Road
Blackburn
Lancashire
BB2 6AH
MOSS FOLD PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MOSS FOLD PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
49,669
82,821
Investment property
4
572,878
572,878
622,547
655,699
Current assets
Debtors
14,030
27,878
Cash at bank and in hand
21,081
77,492
35,111
105,370
Creditors: amounts falling due within one year
5
(204,095)
(256,507)
Net current liabilities
(168,984)
(151,137)
Total assets less current liabilities
453,563
504,562
Creditors: amounts falling due after more than one year
6
(135,638)
(149,520)
Provisions for liabilities
-
0
(14,348)
Net assets
317,925
340,694
Capital and reserves
Called up share capital
75,000
75,000
Capital redemption reserve
25,000
25,000
Profit and loss reserves
217,925
240,694
Total equity
317,925
340,694
MOSS FOLD PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -

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

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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

The financial statements were approved and signed by the director and authorised for issue on 19 November 2024
J A Sturgess
Director
Company registration number 03063478 (England and Wales)
MOSS FOLD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Moss Fold Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Progress Mill, Marsh House Lane, Darwen, Lancashire, BB3 3JB.

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, modified to include to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Rents receivable shown in the profit and loss account represents rents, service charges and other sales receivable in the year.

 

1.4
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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% per annum reducing balance
Motor vehicles
25% per annum reducing balance

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.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
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.

MOSS FOLD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are recognised at transaction price.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
MOSS FOLD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
141,876
18,000
159,876
Disposals
(60,817)
-
0
(60,817)
At 31 March 2024
81,059
18,000
99,059
Depreciation and impairment
At 1 April 2023
68,056
8,999
77,055
Depreciation charged in the year
7,559
2,251
9,810
Eliminated in respect of disposals
(37,475)
-
0
(37,475)
At 31 March 2024
38,140
11,250
49,390
Carrying amount
At 31 March 2024
42,919
6,750
49,669
At 31 March 2023
73,820
9,001
82,821
4
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
572,878

Investment property is stated at fair value based on a professional valuation carried out in 2017, plus expenditure incurred since that date. The director believes this is a fair estimate of market value.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
13,678
12,584
Trade creditors
11,126
8,890
Taxation and social security
8,531
4,167
Other creditors
169,293
229,907
Accruals and deferred income
1,467
959
204,095
256,507

The bank borrowings are secured by the company.

MOSS FOLD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
135,638
149,520

The bank borrowings are secured by the company.

Amounts included above which fall due after five years are as follows:
Payable by instalments
85,464
108,716
2024-03-312023-04-01false19 November 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityJ A Sturgessfalsefalse030634782023-04-012024-03-31030634782024-03-31030634782023-03-3103063478core:PlantMachinery2024-03-3103063478core:MotorVehicles2024-03-3103063478core:PlantMachinery2023-03-3103063478core:MotorVehicles2023-03-3103063478core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3103063478core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3103063478core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3103063478core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3103063478core:CurrentFinancialInstruments2024-03-3103063478core:CurrentFinancialInstruments2023-03-3103063478core:ShareCapital2024-03-3103063478core:ShareCapital2023-03-3103063478core:CapitalRedemptionReserve2024-03-3103063478core:CapitalRedemptionReserve2023-03-3103063478core:RetainedEarningsAccumulatedLosses2024-03-3103063478core:RetainedEarningsAccumulatedLosses2023-03-3103063478bus:Director12023-04-012024-03-3103063478core:PlantMachinery2023-04-012024-03-3103063478core:MotorVehicles2023-04-012024-03-31030634782022-04-012023-03-3103063478core:PlantMachinery2023-03-3103063478core:MotorVehicles2023-03-31030634782023-03-3103063478core:Non-currentFinancialInstruments2024-03-3103063478core:Non-currentFinancialInstruments2023-03-3103063478bus:PrivateLimitedCompanyLtd2023-04-012024-03-3103063478bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103063478bus:FRS1022023-04-012024-03-3103063478bus:AuditExemptWithAccountantsReport2023-04-012024-03-3103063478bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP