Moko Property Limited 14695150 false 2023-02-28 2024-02-28 2024-02-28 The principal activity of the company is Property Letting. Digita Accounts Production Advanced 6.30.9574.0 true 14695150 2023-02-28 2024-02-28 14695150 2024-02-28 14695150 core:RetainedEarningsAccumulatedLosses 2024-02-28 14695150 core:ShareCapital 2024-02-28 14695150 core:CurrentFinancialInstruments 2024-02-28 14695150 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 14695150 core:Non-currentFinancialInstruments 2024-02-28 14695150 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-28 14695150 bus:SmallEntities 2023-02-28 2024-02-28 14695150 bus:AuditExemptWithAccountantsReport 2023-02-28 2024-02-28 14695150 bus:FullAccounts 2023-02-28 2024-02-28 14695150 bus:SmallCompaniesRegimeForAccounts 2023-02-28 2024-02-28 14695150 bus:RegisteredOffice 2023-02-28 2024-02-28 14695150 bus:Director1 2023-02-28 2024-02-28 14695150 bus:Director2 2023-02-28 2024-02-28 14695150 bus:PrivateLimitedCompanyLtd 2023-02-28 2024-02-28 14695150 countries:AllCountries 2023-02-28 2024-02-28 iso4217:GBP xbrli:pure

Registration number: 14695150

Moko Property Limited

Filleted Unaudited Financial Statements

for the Period from 28 February 2023 to 28 February 2024

 

Moko Property Limited
(Registration number: 14695150)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Moko Property Limited
(Registration number: 14695150)

Company Information

Directors

Mr Paul Milford

Mrs Kim Milford

Registered office

Ground Floor Office Unit 8 Sandpiper Court
Harrington Lane
Exeter
Devon
United Kingdom
EX4 8NS

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Moko Property Limited
(Registration number: 14695150)

Balance Sheet as at 28 February 2024

Note

2024
£

Fixed assets

 

Investment property

4

144,913

Current assets

 

Debtors

5

3,947

Cash at bank and in hand

 

116,973

 

120,920

Creditors: Amounts falling due within one year

6

(165,136)

Net current liabilities

 

(44,216)

Total assets less current liabilities

 

100,697

Creditors: Amounts falling due after more than one year

6

(108,171)

Net liabilities

 

(7,474)

Capital and reserves

 

Called up share capital

100

Profit and loss account

(7,574)

Total equity

 

(7,474)

For the financial period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

.........................................
Mr Paul Milford
Director

 

Moko Property Limited
(Registration number: 14695150)

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Ground Floor Office Unit 8 Sandpiper Court
Harrington Lane
Exeter
Devon
United Kingdom
EX4 8NS

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Moko Property Limited
(Registration number: 14695150)

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 28 February 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investment properties

2024
£

Additions

144,913

At 28 February

144,913

 

Moko Property Limited
(Registration number: 14695150)

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 28 February 2024

The director has estimated the fair value of the investment property based on his knowledge of the
market. The value is estimated to be in line with the costs incurred in purchasing and developing the
property as there has been little growth since the property was acquired.

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

Other debtors

1,439

Prepayments and accrued income

2,508

Total current trade and other debtors

3,947

6

Creditors

2024
£

Due within one year

Taxation and social security

1,439

Other creditors

161,897

Accrued expenses

1,800

165,136

Note

2024
£

Due after one year

 

Loans and borrowings

7

108,171

Creditors include bank loan balance of £108,171 which is secured against investment propoerty held at the year end.

7

Loans and borrowings

2024
£

Non-current loans and borrowings

Bank borrowings

108,171