Registered number
03324088
Mogcourt Limited
Unaudited Filleted Accounts
28 February 2025
Mogcourt Limited
Registered number: 03324088
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 3,999,202 3,999,202
Investments 4 62 62
3,999,264 3,999,264
Current assets
Cash at bank and in hand 1,601 1,504
Creditors: amounts falling due within one year 5 (40,160) (37,265)
Net current liabilities (38,559) (35,761)
Total assets less current liabilities 3,960,705 3,963,503
Creditors: amounts falling due after more than one year 6 (1,616) (6,678)
Provisions for liabilities (768,031) (768,031)
Net assets 3,191,058 3,188,794
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 2,695,645 2,695,645
Profit and loss account 495,411 493,147
Shareholders' funds 3,191,058 3,188,794
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
W Cameron
Director
Approved by the board on 25 June 2025
Mogcourt Limited
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value of rental income receivable in respect of the company's investment property.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2024 3,999,202
At 28 February 2025 3,999,202
Depreciation
At 28 February 2025 -
Net book value
At 28 February 2025 3,999,202
At 29 February 2024 3,999,202
Freehold land and buildings: 2025 2024
£ £
Historical cost 526,882 526,882
Cumulative depreciation based on historical cost - -
526,882 526,882
The company's investment property was valued at £3,999,202, as at 29 February 2024, on a discounted cash flow basis. The directors consider that this valuation continues to be representative of the fair value of the company's investment property as at 28 February 2025.
4 Investments
Other
investments
£
Cost
At 1 March 2024 62
At 28 February 2025 62
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 5,324 5,324
Taxation and social security costs 33,932 31,088
Other creditors 904 853
40,160 37,265
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 1,616 6,678
7 Profit and loss account - non-distributable 2025 2024
£ £
At 1 March 2024 2,695,645 2,771,244
Loss on revaluation of land and buildings - (100,798)
Deferred taxation arising on the revaluation of land and buildings - 25,199
At 28 February 2025 2,695,645 2,695,645
8 Other information
Mogcourt Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 1 - 4
Crossley Farm Business Centre
Swan Lane, Winterbourne
Bristol
BS36 1RH
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