Company Registration No. 03580710 (England and Wales)
Mowbary Limited
Unaudited accounts
for the year ended 30 June 2024
Mowbary Limited
Unaudited accounts
Contents
Mowbary Limited
Company Information
for the year ended 30 June 2024
Director
Anthony John Morton
Company Number
03580710 (England and Wales)
Registered Office
79 Chalk Hill
West End
Southampton
SO18 3BY
Accountants
P7 Accounting Limited
25 Cutbush Lane
Bitterne
Southampton
SO18 5QP
Mowbary Limited
Statement of financial position
as at 30 June 2024
Tangible assets
26,151
36,113
Investment property
510,000
389,805
Cash at bank and in hand
187,055
252,886
Creditors: amounts falling due within one year
33,145
(4,453)
Net current assets
248,348
274,761
Total assets less current liabilities
784,499
700,679
Provisions for liabilities
Deferred tax
(9,163)
(32,322)
Net assets
775,336
668,357
Called up share capital
1
1
Fair value reserve
120,195
-
Profit and loss account
655,140
668,356
Shareholders' funds
775,336
668,357
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 January 2025 and were signed on its behalf by
Anthony John Morton
Director
Company Registration No. 03580710
Mowbary Limited
Notes to the Accounts
for the year ended 30 June 2024
Mowbary Limited is a private company, limited by shares, registered in England and Wales, registration number 03580710. The registered office is 79 Chalk Hill, West End, Southampton, SO18 3BY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of gross rents receivable from furnished property lettings.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Straight line
Fixtures & fittings
20% Straight line
Investment property is included at fair market value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Mowbary Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2023
49,810
10,299
60,109
Disposals
-
(10,299)
(10,299)
At 30 June 2024
49,810
-
49,810
At 1 July 2023
13,697
10,299
23,996
Charge for the year
9,962
-
9,962
On disposals
-
(10,299)
(10,299)
At 30 June 2024
23,659
-
23,659
At 30 June 2024
26,151
-
26,151
At 30 June 2023
36,113
-
36,113
Fair value at 1 July 2023
389,805
Net gain from fair value adjustments
120,195
Investment property is valued by the director at anticipated fair market value at the year end date.
Amounts falling due within one year
Other debtors
28,148
1,328
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
152
9
Loans from directors
(34,547)
1,434
Mowbary Limited
Notes to the Accounts
for the year ended 30 June 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors' loan
-
34,547
-
34,547
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).