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REGISTERED NUMBER: 03536988 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Moorhead Properties Limited

Moorhead Properties Limited (Registered number: 03536988)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Moorhead Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K H Moorhead
Mrs W Moorhead





SECRETARY: Mrs W Moorhead





REGISTERED OFFICE: The Mills
Canal Street
Derby
Derbyshire
DE1 2RJ





REGISTERED NUMBER: 03536988 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Moorhead Properties Limited (Registered number: 03536988)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 549 -
Investment property 5 1,400,000 1,400,000
1,400,549 1,400,000

CURRENT ASSETS
Debtors 6 29,270 29,234
Cash at bank and in hand 287,592 254,966
316,862 284,200
CREDITORS
Amounts falling due within one year 7 108,752 72,951
NET CURRENT ASSETS 208,110 211,249
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,608,659

1,611,249

CAPITAL AND RESERVES
Called up share capital 700 700
Fair value reserve 8 557,661 557,661
Retained earnings 8 1,050,298 1,052,888
SHAREHOLDERS' FUNDS 1,608,659 1,611,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Profit and Loss Account 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:



Mrs W Moorhead - Director


Moorhead Properties Limited (Registered number: 03536988)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Moorhead Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced rent receivable, excluding value added tax. Turnover is recognised in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is not depreciated but is revalued annually at its fair value in accordance with Section 1A "Small Entities' of Financial Reporting Standard 102. Any aggregate surplus or deficit arising from changes in fair value are taken to the profit and loss account and transferred to a fair value reserve.

Deferred taxation
Provision is made at current rates for taxation deferred in respect of all material timing differences, including provisions made for potential tax arising on assets which have been revalued.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Moorhead Properties Limited (Registered number: 03536988)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 712
At 31 March 2024 712
DEPRECIATION
Charge for year 163
At 31 March 2024 163
NET BOOK VALUE
At 31 March 2024 549

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,400,000
NET BOOK VALUE
At 31 March 2024 1,400,000
At 31 March 2023 1,400,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 1,400,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 842,339 842,339
Aggregate depreciation (252,703 ) (235,856 )

Investment property was valued on a fair value basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,270 27,827
Other debtors - 1,407
29,270 29,234

Moorhead Properties Limited (Registered number: 03536988)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 207 975
Tax - 10,578
Social security and other taxes 7,134 6,379
Directors' current accounts 62,757 19,852
Accruals and deferred income 38,654 35,167
108,752 72,951

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 1,052,888 557,661 1,610,549
Deficit for the year (2,590 ) (2,590 )
At 31 March 2024 1,050,298 557,661 1,607,959