Molescroft Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03401788 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

MOLESCROFT MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M J Usher

Mrs K P H Usher

REGISTERED OFFICE:

43 Hull Road

Cottingham

East Yorkshire

HU16 4PN

REGISTERED NUMBER:

03401788 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

SOLICITORS:

Sandersons

17 Parliament Street

Hull

HU1 2BH

FIXED ASSETS

Tangible assets

4

-

Investments

5

565,435

CURRENT ASSETS

Debtors

6

994,791

986,517

Cash at bank

15,447

2,320

1,010,238

988,837

CREDITORS

Amounts falling due within one year

7

277,512

264,420

NET CURRENT ASSETS

732,726

724,417

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,298,161

1,289,852

CREDITORS

Amounts falling due after more than one year

8

1,000,000

NET ASSETS

298,161

289,852

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

298,061

289,752

SHAREHOLDERS' FUNDS

298,161

289,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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

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 31 March 2025 and were signed on its behalf by:

Mr M J Usher - Director

1.	STATUTORY INFORMATION

Molescroft Management Limited is a private company, limited by shares, registered in England. The company's registered number is 03401788 and registered office is at 43 Hull Road, Cottingham, East Yorkshire, HU16 4PN, England.

The company's principal activity is business management and process engineering.

The presentational currency of the financial statements is Pound Sterling (£) as this is the functional currency of business activities.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on a reducing balance basis and 25% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Taxation

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2023

and 30 June 2024

10,386

DEPRECIATION

At 1 July 2023

and 30 June 2024

10,386

NET BOOK VALUE

At 30 June 2024

-

5.	FIXED ASSET INVESTMENTS

Investment

in group

undertaking

£

COST

At 1 July 2023

and 30 June 2024

565,435

NET BOOK VALUE

At 30 June 2024

565,435

At 30 June 2023

565,435

Investments in subsidiaries are accounted for at cost less impairment.

6.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Group company current account

2,937

8,342

Group company loan account

182,407

166,807

VAT

9,179

11,134

Prepayments

268

234

194,791

186,517

Amounts falling due after more than one year:

Group company loan account

800,000

Aggregate amounts

994,791

986,517

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

25

24

Corporation tax

5,698

3,664

Directors' current accounts

268,211

258,807

Accrued expenses

3,578

1,925

277,512

264,420

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Director's loan account

1,000,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors are amounts owing to the director, Mr M J Usher, totalling £1,268,210 (2023: £1,258,807). The amounts outstanding at 30 June 2024 are as follows:

Due within one year

Current account £268,210 (2023: £258,807)

Due after more than one year

Loan account £1,000,000 (2023: £1,000,000)

Transactions in respect of the current account balance during the year consisted of payments made by the director on behalf of the company amounting to £9,404 (2023: £27,109). The current account balance is repayable on demand.