Mosscope Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02737952

Mosscope Limited

Filleted Unaudited Financial Statements

31 December 2024

Mosscope Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	4		2,000,000		2,000,000

Current assets

Cash at bank and in hand	45,493		56,094

Creditors: amounts falling due within one year	5	430,013		465,693
		---------		---------
Net current liabilities			384,520		409,599
			------------		------------
Total assets less current liabilities			1,615,480		1,590,401

Creditors: amounts falling due after more than one year	6		104,823		175,617

Provisions

Taxation including deferred tax	226,586	226,586
	------------	------------
Net assets	1,284,071	1,188,198
	------------	------------

Mosscope Limited

Statement of Financial Position (continued)

31 December 2024

	2024		2023
Note	£	£	£	£

Capital and reserves

Called up share capital	400	400
Revaluation reserve	976,210	976,210
Profit and loss account	307,461	211,588
	------------	------------
Shareholders funds	1,284,071	1,188,198
	------------	------------

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.

For the year ending 31 December 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 were approved by the board of directors and authorised for issue on 21 May 2025 , and are signed on behalf of the board by:

Mrs L Marwaha

Director

Company registration number: 02737952

Mosscope Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 The Leas, Ingatestone, CM4 9AF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

Turnover represents rent receivable during the year. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Rental income is recognised on an accrual basis in accordance with the substance of the relevant agreement.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Investment property

Investment property is initially recorded 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.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Tangible assets

	Freehold property
	£
Cost
At 1 January 2024 and 31 December 2024	2,000,000
	------------
Depreciation
At 1 January 2024 and 31 December 2024	–
	------------
Carrying amount
At 31 December 2024	2,000,000
	------------
At 31 December 2023	2,000,000
	------------

The company's investment property was revalued on a fair value basis by the director on 31 December 2024.

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	25,000	24,000
Corporation tax	31,861	28,357
Other creditors	373,152	413,336
	---------	---------
	430,013	465,693
	---------	---------

6. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	104,823	175,617
	---------	---------

7. Creditors

Bank loan of £129,823 (2022 - £199,617) is secured by a fixed and floating charge over the company's assets.