Moor Isles Developments Limited 09473037 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true 09473037 2023-04-01 2024-03-31 09473037 2024-03-31 09473037 core:RetainedEarningsAccumulatedLosses 2024-03-31 09473037 core:ShareCapital 2024-03-31 09473037 core:CurrentFinancialInstruments 2024-03-31 09473037 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09473037 core:Non-currentFinancialInstruments 2024-03-31 09473037 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09473037 bus:SmallEntities 2023-04-01 2024-03-31 09473037 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09473037 bus:FilletedAccounts 2023-04-01 2024-03-31 09473037 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09473037 bus:RegisteredOffice 2023-04-01 2024-03-31 09473037 bus:Director1 2023-04-01 2024-03-31 09473037 bus:Director2 2023-04-01 2024-03-31 09473037 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09473037 bus:Agent1 2023-04-01 2024-03-31 09473037 countries:EnglandWales 2023-04-01 2024-03-31 09473037 2021-10-01 2023-03-31 09473037 2023-03-31 09473037 core:RetainedEarningsAccumulatedLosses 2023-03-31 09473037 core:ShareCapital 2023-03-31 09473037 core:CurrentFinancialInstruments 2023-03-31 09473037 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09473037 core:Non-currentFinancialInstruments 2023-03-31 09473037 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09473037

Moor Isles Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Moor Isles Developments Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Moor Isles Developments Limited

Company Information

Directors

Mr A N Ogden

Mr J C Nutter

Registered office

Lawrence House
1 - 7 Canning Street
Burnley
Lancashire
BB12 0AE

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Moor Isles Developments Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Moor Isles Developments Limited for the year ended 31 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Moor Isles Developments Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Moor Isles Developments Limited and state those matters that we have agreed to state to the Board of Directors of Moor Isles Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moor Isles Developments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Moor Isles Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Moor Isles Developments Limited. You consider that Moor Isles Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Moor Isles Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

7 November 2024

 

Moor Isles Developments Limited

(Registration number: 09473037)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

480,000

-

Current assets

 

Stocks

5

-

521,754

Debtors

6

765

4,605

Cash at bank and in hand

 

5,823

22,716

 

6,588

549,075

Creditors: Amounts falling due within one year

7

(203,871)

(194,439)

Net current (liabilities)/assets

 

(197,283)

354,636

Total assets less current liabilities

 

282,717

354,636

Creditors: Amounts falling due after more than one year

7

(252,525)

(294,443)

Net assets

 

30,192

60,193

Capital and reserves

 

Called up share capital

300

300

Retained earnings

29,892

59,893

Shareholders' funds

 

30,192

60,193

 

Moor Isles Developments Limited

(Registration number: 09473037)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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 year 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

.........................................
Mr A N Ogden
Director

 

Moor Isles Developments Limited

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

1

General information

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

The address of its registered office is:
Lawrence House
1 - 7 Canning Street
Burnley
Lancashire
BB12 0AE

These financial statements were authorised for issue by the Board on 7 November 2024.

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 provision of goods in the ordinary course of the company’s activities. Turnover is shown net of sales 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Moor Isles Developments Limited

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Moor Isles Developments Limited

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

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 year was 2 (2023 - 2).

4

Investment properties

2024
£

Additions

480,000

At 31 March

480,000

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

5

Stocks

2024
£

2023
£

Work in progress

-

521,754

6

Debtors

2024
£

2023
£

Other debtors

765

4,605

765

4,605

 

Moor Isles Developments Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,000

10,000

Trade creditors

 

140,454

118,350

Taxation and social security

 

901

7,936

Accruals and deferred income

 

1,184

4,475

Other creditors

 

51,332

53,678

 

203,871

194,439

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

13,381

22,500

Other non-current financial liabilities

 

239,144

271,943

 

252,525

294,443

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,381

22,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000