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REGISTERED NUMBER: 11914043 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MOORINGS HOUSING LTD

MOORINGS HOUSING LTD (REGISTERED NUMBER: 11914043)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MOORINGS HOUSING LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mr R Bhanot
Mrs S Bhanot





REGISTERED OFFICE: Hass House
386 Green Lane
Ilford
Essex
IG3 9JU





REGISTERED NUMBER: 11914043 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

MOORINGS HOUSING LTD (REGISTERED NUMBER: 11914043)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,342 42,753
Investment property 5 7,748,125 7,748,125
7,784,467 7,790,878

CURRENT ASSETS
Debtors 758,127 810,066
Cash at bank and in hand 4,573 39,095
762,700 849,161
CREDITORS
Amounts falling due within one year 581,507 624,252
NET CURRENT ASSETS 181,193 224,909
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,965,660

8,015,787

CREDITORS
Amounts falling due after more than one year 6 4,301,668 4,349,641
NET ASSETS 3,663,992 3,666,146

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 3,559,743 3,559,743
Retained earnings 104,049 106,203
SHAREHOLDERS' FUNDS 3,663,992 3,666,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MOORINGS HOUSING LTD (REGISTERED NUMBER: 11914043)

ABRIDGED BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:





Mr R Bhanot - Director


MOORINGS HOUSING LTD (REGISTERED NUMBER: 11914043)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Moorings Housing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents property sales and net invoiced rents and commission receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

MOORINGS HOUSING LTD (REGISTERED NUMBER: 11914043)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 50,298
DEPRECIATION
At 1 April 2023 7,545
Charge for year 6,411
At 31 March 2024 13,956
NET BOOK VALUE
At 31 March 2024 36,342
At 31 March 2023 42,753


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 7,748,125
NET BOOK VALUE
At 31 March 2024 7,748,125
At 31 March 2023 7,748,125

Investment property was valued on an open market basis on 31 March 2024 by the directors.

MOORINGS HOUSING LTD (REGISTERED NUMBER: 11914043)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank loans 4,175,742 4,175,378

Repayable by instalments
Bank loans 73,098 116,944

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 6,766 -
Bank loans 4,354,496 4,406,960
4,361,262 4,406,960

Bank overdraft are secured against personal guarantee of director. Bank loans are secured over the investment properties of the company.

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed an aggregate of £215,990 (2023: £309,481) by companies under common control, and owed £9,629 (2023: £102,116) to the directors.