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Company registration number: 13118724
Moyle Investments 1970 Limited
Unaudited filleted financial statements
for the year ended
30 April 2024
Prepared by:
THOMAS NOCK MARTIN LIMITED
CHARTERED ACCOUNTANTS
BRIERLEY HILL
Moyle Investments 1970 Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Moyle Investments 1970 Limited
Directors and other information
Directors Emma Logan
Nigel Beaton
Jack Logan (Appointed 4 May 2023)
Clova Logan (Appointed 4 May 2023)
Company number 13118724
Registered office 5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Business address 4 The View
Cleeve Hill
Cheltenham
Gloucestershire
GL52 3PX
Accountants Thomas Nock Martin Limited
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Bankers NatWest
Bank Buildings
George Street
Stroud
Gloucestershire
GL52 3PX
Moyle Investments 1970 Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Moyle Investments 1970 Limited
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Moyle Investments 1970 Limited for the year ended 30 April 2024 which comprise the statement of financial position, statement of changes in equity and related notes 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 /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Moyle Investments 1970 Limited, as a body, in accordance with the terms of our engagement letter dated 8 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Moyle Investments 1970 Limited and state those matters that we have agreed to state to the board of directors of Moyle Investments 1970 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 Moyle Investments 1970 Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Moyle Investments 1970 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Moyle Investments 1970 Limited. You consider that Moyle Investments 1970 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 financial statements of Moyle Investments 1970 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 financial statements.
Thomas Nock Martin Limited
Chartered Accountants
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
30 January 2025
Moyle Investments 1970 Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 483,155 550,118
Investments 6 1,415,798 1,365,714
_________ _________
1,898,953 1,915,832
Current assets
Debtors 7 401,216 400,987
Cash at bank and in hand 16,363 58,480
_______ _______
417,579 459,467
Creditors: amounts falling due
within one year 8 ( 14,779) ( 15,628)
_______ _______
Net current assets 402,800 443,839
_________ _________
Total assets less current liabilities 2,301,753 2,359,671
Creditors: amounts falling due
after more than one year 9 ( 1,939,970) ( 2,009,970)
Provisions for liabilities ( 3,500) ( 200)
_______ _______
Net assets 358,283 349,501
_______ _______
Capital and reserves
Called up share capital 10 1 1
Profit and loss account 358,282 349,500
_______ _______
Shareholders funds 358,283 349,501
_______ _______
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 January 2025 , and are signed on behalf of the board by:
Emma Logan
Director
Company registration number: 13118724
Moyle Investments 1970 Limited
Statement of changes in equity
Year ended 30 April 2024
Called up share capital Profit and loss account Total
£ £ £
At 7 January 2021 1 60,104 60,105
Profit for the year - 289,396 289,396
_______ _______ _______
Total comprehensive income for the year (-) 289,396 289,396
_______ _______ _______
At 30 April 2023 and 1 May 2023 1 349,500 349,501
Profit for the year - 8,782 8,782
_______ _______ _______
Total comprehensive income for the year - 8,782 8,782
_______ _______ _______
At 30 April 2024 1 358,282 358,283
_______ _______ _______
Moyle Investments 1970 Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 5 Hagley Court South, The Waterfront, Brierley Hill, West Midlands, DY5 1XE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents rents receivable during the year. The company is not registered for Value Added Tax purposes.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Investment property - not depreciated
Fittings fixtures and equipment - 15 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like other debtors, trade creditors and other creditors.Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Investment property Fixtures, fittings and equipment Total
£ £ £
Cost or valuation
At 1 May 2023 549,020 1,568 550,588
Additions - 907 907
Revaluation ( 67,499) - ( 67,499)
_______ _______ _______
At 30 April 2024 481,521 2,475 483,996
_______ _______ _______
Depreciation
At 1 May 2023 - 470 470
Charge for the year - 371 371
_______ _______ _______
At 30 April 2024 - 841 841
_______ _______ _______
Carrying amount
At 30 April 2024 481,521 1,634 483,155
_______ _______ _______
At 30 April 2023 549,020 1,098 550,118
_______ _______ _______
Investment property
The investment property has been measured at fair value at £481,521 (2023 £549,020). This was determined by the directors' valuation at the balance sheet date.
6. Investments
Investments in other participating interests Other investments Total
£ £ £
Cost or valuation
At 1 May 2023 266,875 1,098,839 1,365,714
Additions - 7,987 7,987
Disposals - ( 22,684) ( 22,684)
Revaluations - 79,627 79,627
Other movements - ( 14,846) ( 14,846)
_______ _________ _________
At 30 April 2024 266,875 1,148,923 1,415,798
_______ _________ _________
Impairment
At 1 May 2023 and 30 April 2024 - - -
_______ _______ _______
Carrying amount
At 30 April 2024 266,875 1,148,923 1,415,798
_______ _________ _________
At 30 April 2023 266,875 1,098,839 1,365,714
_______ _________ _________
7. Debtors
2024 2023
£ £
Other debtors 401,216 400,987
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 2,400 2,400
Other creditors 12,379 13,228
_______ _______
14,779 15,628
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,939,970 2,009,970
_________ _________
10. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
C ordinary shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______
11. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Amounts repaid Balance carried forward
£ £ £
Emma Logan 300,000 ( 872) 299,128
_______ _______ _______
2023
Balance brought forward Amounts repaid Balance carried forward
£ £ £
Emma Logan 300,000 - 300,000
_______ _______ _______
12. Controlling party
Beaufield Holdings Limited , the ultimate parent company, controls the company by virtue of a controlling interest of 100% of the issued share capital.The registered office address and principal place of business of Beaufield Holdings Limited is:Chipping CourtAlveston HillStratford-Upon-AvonWarwickshireCV37 7RR
13. Group loan write off
During the comparative year the company has written off amounts due to group undertakings of £336,875.