Silverfin false false 30/11/2024 01/12/2023 30/11/2024 Mr I D Mitchell 15/04/2024 Mr F R I Mitchell 02/08/2023 Mr D R Mitchell 15/04/2024 21 April 2025 The principal activity of the Company during the financial period was a holding company. 15044948 2024-11-30 15044948 bus:Director1 2024-11-30 15044948 bus:Director2 2024-11-30 15044948 bus:Director3 2024-11-30 15044948 core:CurrentFinancialInstruments 2024-11-30 15044948 core:ShareCapital 2024-11-30 15044948 core:RetainedEarningsAccumulatedLosses 2024-11-30 15044948 core:LandBuildings 2023-11-30 15044948 2023-11-30 15044948 core:LandBuildings 2024-11-30 15044948 core:AdditionsToInvestments 2024-11-30 15044948 core:CostValuation 2024-11-30 15044948 bus:OrdinaryShareClass1 2024-11-30 15044948 bus:OrdinaryShareClass2 2024-11-30 15044948 bus:OrdinaryShareClass3 2024-11-30 15044948 2023-12-01 2024-11-30 15044948 bus:FilletedAccounts 2023-12-01 2024-11-30 15044948 bus:SmallEntities 2023-12-01 2024-11-30 15044948 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 15044948 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 15044948 bus:Director1 2023-12-01 2024-11-30 15044948 bus:Director2 2023-12-01 2024-11-30 15044948 bus:Director3 2023-12-01 2024-11-30 15044948 core:LandBuildings 2023-12-01 2024-11-30 15044948 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 15044948 bus:OrdinaryShareClass2 2023-12-01 2024-11-30 15044948 bus:OrdinaryShareClass3 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 15044948 (England and Wales)

MORESK HOLDINGS LIMITED

Unaudited Financial Statements
For the financial period ended 30 November 2024
Pages for filing with the registrar

MORESK HOLDINGS LIMITED

Unaudited Financial Statements

For the financial period ended 30 November 2024

Contents

MORESK HOLDINGS LIMITED

BALANCE SHEET

As at 30 November 2024
MORESK HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024
£
Fixed assets
Tangible assets 3 881,106
Investments 4 300
881,406
Current assets
Debtors 5 7,233
Cash at bank and in hand 6 219,759
226,992
Creditors: amounts falling due within one year 7 ( 1,118,921)
Net current liabilities (891,929)
Total assets less current liabilities (10,523)
Net liabilities ( 10,523)
Capital and reserves
Called-up share capital 8 300
Profit and loss account ( 10,823 )
Total shareholders' deficit ( 10,523)

For the financial period ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Moresk Holdings Limited (registered number: 15044948) were approved and authorised for issue by the Board of Directors on 21 April 2025. They were signed on its behalf by:

Mr F R I Mitchell
Director
Mr I D Mitchell
Director
Mr D R Mitchell
Director
MORESK HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 30 November 2024
MORESK HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Moresk Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA
United Kingdom.

The principal place of business is:
The Clock Garage
Summercourt
Newquay
Cornwall
TR8 5AH

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024
Number
Monthly average number of persons employed by the Company during the period, including directors 3

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 December 2023 0 0
Additions 881,106 881,106
At 30 November 2024 881,106 881,106
Accumulated depreciation
At 01 December 2023 0 0
At 30 November 2024 0 0
Net book value
At 30 November 2024 881,106 881,106

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 December 2023 0
Additions 300
At 30 November 2024 300
Carrying value at 30 November 2024 300

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Clive Mitchell Cycles Limited
Registered office:
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA
England

Holdings: Ordinary
Proportion of voting rights and shares held 2024 - 100%

5. Debtors

2024
£
Prepayments 971
VAT recoverable 6,262
7,233

6. Cash and cash equivalents

2024
£
Cash at bank and in hand 219,759

7. Creditors: amounts falling due within one year

2024
£
Trade creditors 14
Other creditors 1,118,907
1,118,921

8. Called-up share capital

2024
£
Allotted, called-up and fully-paid
100 A Ordinary shares of £ 1.00 each 100
100 B Ordinary shares of £ 1.00 each 100
100 C Ordinary shares of £ 1.00 each 100
300