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Registration number: 10768594

Moore Place Developments 3 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Moore Place Developments 3 Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Moore Place Developments 3 Limited

Company Information

Directors

Simon Jonothan Foster

Craig Stewart Webster

Registered office

53a High Street
Esher
Surrey
KT10 9RQ

Accountants

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

Moore Place Developments 3 Limited

(Registration number: 10768594)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

3,220,598

3,164,141

Debtors

5

50,817

36,965

Cash at bank and in hand

 

3,684

1,404

 

3,275,099

3,202,510

Creditors: Amounts falling due within one year

6

(1,029,757)

(1,039,231)

Total assets less current liabilities

 

2,245,342

2,163,279

Creditors: Amounts falling due after more than one year

6

(2,467,977)

(2,193,895)

Net liabilities

 

(222,635)

(30,616)

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

(222,835)

(30,816)

Shareholders' deficit

 

(222,635)

(30,616)

For the financial year ending 31 May 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 4 December 2024 and signed on its behalf by:
 

.........................................
Simon Jonothan Foster
Director

 

Moore Place Developments 3 Limited

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

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
53a High Street
Esher
Surrey
KT10 9RQ

These financial statements were authorised for issue by the Board on 4 December 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.

Going concern

The financial statements have been prepared on a going concern basis.

There was a net deficiency of assets amounting to £222,635 (2022: £30,616) which included an amount of £1,583,606 owed to other related companies. Based on the director's assessment of future performance and continued support from the shareholders the directors have prepared the accounts on a going basis.

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.

 

Moore Place Developments 3 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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

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.

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.

 

Moore Place Developments 3 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Stocks

2024
£

2023
£

Other inventories

3,220,598

3,164,141

5

Debtors

Current

2024
£

2023
£

Prepayments

3,000

-

Other debtors

47,817

36,965

 

50,817

36,965

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,339

8,887

Accruals and deferred income

2,554

2,160

Other creditors

1,023,864

1,028,184

1,029,757

1,039,231

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

2,467,977

2,193,895

 

Moore Place Developments 3 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary shares of £1 each

100

100

100

100

B Ordinary shares of £1 each

100

100

100

100

200

200

200

200

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

2,467,977

2,193,895

 

Moore Place Developments 3 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

9

Related party transactions

Included in other debtors is:
(a) £47,717 due from Farnham Developments Ltd, a company in which Simon Foster is director and shareholder. (2023 - £35,000)

Included in other creditors is:
(a) £12,676 due to Moore Place developments Ltd, a company in which Simon Foster is director and shareholder. (2023 - £12,676)

(b) £8,455 due to Urban Matrix Construction Ltd, a company in which Simon Foster is director and shareholder. (£2023 - £7,617)

(c) £916 due to Urban Matrix Ltd, a company in which Simon Foster is director and shareholder. (2023 - £4,516)

(d) £993,582 due to Marchwood Developments Ltd, a company in which Simon Foster is director and shareholder. (2023 - £1,003,375)

(e) Amounts due after more than one year represent an interest-bearing loan of £567,977 from the company’s co-owner Rigade Investments Limited. Interest is charged at 5% per annum with interest of £7,317 charged during the period.