Registered number
11309732
MORVILLE PROPERTIES LIMITED
Filleted Accounts
30 April 2024
MORVILLE PROPERTIES LIMITED
Registered number: 11309732
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 3,560,000 3,890,000
Current assets
Debtors 4 240,487 334,696
Cash at bank and in hand 464,739 4,098
705,226 338,794
Creditors: amounts falling due within one year 5 (51,416) (47,233)
Net current assets 653,810 291,561
Total assets less current liabilities 4,213,810 4,181,561
Creditors: amounts falling due after more than one year 6 (843,655) (852,739)
Net assets 3,370,155 3,328,822
Capital and reserves
Called up share capital 100 100
Share premium 3,339,600 3,339,600
Profit and loss account 30,455 (10,878)
Shareholders' funds 3,370,155 3,328,822
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Heenan
Director
Approved by the board on 23 December 2024
MORVILLE PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable from the letting out of own property.
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 May 2023 3,890,000
Disposals (330,000)
At 30 April 2024 3,560,000
Historical cost
At 1 May 2023 3,890,000
At 30 April 2024 3,560,000
4 Debtors 2024 2023
£ £
Trade debtors and prepayments 234,440 69,696
Other debtors 6,047 265,000
240,487 334,696
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,126 11,168
Trade creditors and accruals 3,486 2,268
Corporation tax 8,406 6,768
Other creditors - director's loan account 29,398 27,029
51,416 47,233
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 843,655 852,739
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 827,622 827,622
Secured bank loans 827,622 827,622
The bank loan is secured on the fixed asset investments.
8 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
9 Contingent liabilities
There were no contingent liabilities in existence at the year end.
10 Controlling party
The company is controlled by Mr J Heenan, who owns 60% of the issued ordinary share capital.
11 Other information
MORVILLE PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
24 Oswald Road
Chorlton Cum Hardy
Manchester
M21 9LP
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