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REGISTERED NUMBER: 05108002 (England and Wales)












Unaudited Financial Statements

for the Year Ended 27 February 2024

for

Moorcroft Residential Homes Limited

Moorcroft Residential Homes Limited (Registered number: 05108002)






Contents of the Financial Statements
for the year ended 27 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Moorcroft Residential Homes Limited

Company Information
for the year ended 27 February 2024







DIRECTORS: Mrs J M Griffiths
Mrs J S Jack
Miss H A Jack
C R Jack
Miss A B Jack





SECRETARY: Mrs J S Jack





REGISTERED OFFICE: 38 Brompton Avenue
Rhos On Sea
Colwyn Bay
LL28 4TF





REGISTERED NUMBER: 05108002 (England and Wales)





ACCOUNTANTS: Banks Sheridan
Datum House
Electra Way
Crewe
Cheshire
CW1 6ZF

Moorcroft Residential Homes Limited (Registered number: 05108002)

Statement of Financial Position
27 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,149 1,352
Investment property 6 350,000 188,203
351,149 189,555

CURRENT ASSETS
Debtors 7 660,284 662,393
Cash at bank 427,409 913,622
1,087,693 1,576,015
CREDITORS
Amounts falling due within one year 8 10,431 389,392
NET CURRENT ASSETS 1,077,262 1,186,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,428,411

1,376,178

PROVISIONS FOR LIABILITIES 9 30,741 -
NET ASSETS 1,397,670 1,376,178

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 161,797 -
Retained earnings 1,235,773 1,376,078
1,397,670 1,376,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Moorcroft Residential Homes Limited (Registered number: 05108002)

Statement of Financial Position - continued
27 February 2024


The 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, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





C R Jack - Director


Moorcroft Residential Homes Limited (Registered number: 05108002)

Notes to the Financial Statements
for the year ended 27 February 2024

1. STATUTORY INFORMATION

Moorcroft Residential Homes Limited ('The Company') is primarily engaged in management company.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the registered office and principal place of business is 38 Brompton Avenue, Rhos On Sea, Conwy, LL28 4TF. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£).Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

Theses financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the companies Act 2006.

3. ACCOUNTING POLICIES

Summary of significant accounting policies
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition
Revenue represents the leasing rentals receivable in the year on assets held for rental, excluding value added tax and the property rentals received in the year from the investment property. Rentals are recognised on a straight line basis over the period of the lease or to the date of the next rent review.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount.

Motor vehicles- 15% on reducing balance

The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of financial position date.

Moorcroft Residential Homes Limited (Registered number: 05108002)

Notes to the Financial Statements - continued
for the year ended 27 February 2024

3. ACCOUNTING POLICIES - continued

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.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the discounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

Moorcroft Residential Homes Limited (Registered number: 05108002)

Notes to the Financial Statements - continued
for the year ended 27 February 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 25 ) .

5. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 28 February 2023
and 27 February 2024 14,813
DEPRECIATION
At 28 February 2023 13,461
Charge for year 203
At 27 February 2024 13,664
NET BOOK VALUE
At 27 February 2024 1,149
At 27 February 2023 1,352

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 28 February 2023 188,203
Revaluations 161,797
At 27 February 2024 350,000
NET BOOK VALUE
At 27 February 2024 350,000
At 27 February 2023 188,203

Fair value at 27 February 2024 is represented by:
£   
Valuation in 2024 161,797
Cost 188,203
350,000

Moorcroft Residential Homes Limited (Registered number: 05108002)

Notes to the Financial Statements - continued
for the year ended 27 February 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 23,520
Other debtors 660,284 638,873
660,284 662,393

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 25,403
Taxation and social security 1,323 238,738
Other creditors 9,108 125,251
10,431 389,392

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 30,741 -

Deferred
tax
£   
Provided during year 30,741
Balance at 27 February 2024 30,741

10. RESERVES
Revaluation
reserve
£   
Property revaluation 161,797

At 27 February 2024 161,797

Moorcroft Residential Homes Limited (Registered number: 05108002)

Notes to the Financial Statements - continued
for the year ended 27 February 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 27 February 2024 and 27 February 2023:

2024 2023
£    £   
C R Jack and Mrs J S Jack
Balance outstanding at start of year (125,251 ) -
Amounts advanced 126,401 (125,251 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,150 (125,251 )