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2023-11-01
Sage Accounts Production 23.0 - FRS102_2023
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Company registration number:
SC676794
Mosspark Estates Ltd
Unaudited filleted financial statements
31 October 2024
Mosspark Estates Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Mosspark Estates Ltd
Directors and other information
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Directors |
Mr JD Bogie |
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Mrs FA Bogie |
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Mr DC Bogie |
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Mr SJ Bogie |
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Company number |
SC676794 |
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Registered office |
Mosspark |
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Brasswell |
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Dumfries |
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DG1 4PH |
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Business address |
Mosspark |
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Brasswell |
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Dumfries |
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DG1 4PH |
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Accountants |
Carson & Trotter C.A. |
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123 Irish Street |
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Dumfries |
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DG1 2PE |
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Mosspark Estates Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Mosspark Estates Ltd
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mosspark Estates Ltd for the year ended 31 October 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Mosspark Estates Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mosspark Estates Ltd and state those matters that we have agreed to state to the board of directors of Mosspark Estates Ltd as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mosspark Estates Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Mosspark Estates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mosspark Estates Ltd. You consider that Mosspark Estates Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Mosspark Estates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carson & Trotter C.A.
123 Irish Street
Dumfries
DG1 2PE
9 July 2025
Mosspark Estates Ltd
Statement of financial position
31 October 2024
|
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2024 |
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2023 |
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Note |
£ |
|
£ |
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£ |
|
£ |
|
|
|
|
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|
|
|
|
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Fixed assets |
|
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|
|
|
|
|
|
|
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Tangible assets |
|
5 |
1,188,579 |
|
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|
1,188,769 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,188,579 |
|
|
|
1,188,769 |
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|
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|
|
|
|
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Current assets |
|
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
52,311 |
|
|
|
41,002 |
|
|
|
Cash at bank and in hand |
|
|
50,206 |
|
|
|
39,307 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
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|
|
102,517 |
|
|
|
80,309 |
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|
|
Creditors: amounts falling due |
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|
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within one year |
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7 |
(
38,655) |
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|
|
(
38,305) |
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|
|
|
|
_______ |
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|
|
_______ |
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Net current assets |
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63,862 |
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|
42,004 |
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|
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_______ |
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_______ |
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Total assets less current liabilities |
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1,252,441 |
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1,230,773 |
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_______ |
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_______ |
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Net assets |
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1,252,441 |
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|
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1,230,773 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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1 |
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1 |
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Profit and loss account |
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1,252,440 |
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1,230,772 |
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_______ |
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_______ |
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Shareholders funds |
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1,252,441 |
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1,230,773 |
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_______ |
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_______ |
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For the year ending 31 October 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 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 income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
09 July 2025
, and are signed on behalf of the board by:
Mr SJ Bogie
Director
Company registration number:
SC676794
Mosspark Estates Ltd
Notes to the financial statements
Year ended 31 October 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Mosspark, Brasswell, Dumfries, DG1 4PH.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods suppied and services rendered, net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Land |
- |
0 % |
reducing balance |
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Motor vehicles |
- |
25 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the comany's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recgnised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5.
Tangible assets
|
|
Freehold property |
Motor vehicles |
Total |
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|
£ |
£ |
£ |
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Cost |
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At 1 November 2023 and 31 October 2024 |
1,752,338 |
1,813 |
1,754,151 |
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|
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_______ |
_______ |
_______ |
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Depreciation |
|
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At 1 November 2023 |
564,338 |
1,043 |
565,381 |
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|
|
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Charge for the year |
- |
191 |
191 |
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|
|
|
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|
_______ |
_______ |
_______ |
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At 31 October 2024 |
564,338 |
1,234 |
565,572 |
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|
|
|
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_______ |
_______ |
_______ |
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Carrying amount |
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At 31 October 2024 |
1,188,000 |
579 |
1,188,579 |
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|
|
|
|
|
_______ |
_______ |
_______ |
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At 31 October 2023 |
1,188,000 |
770 |
1,188,770
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|
|
|
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_______ |
_______ |
_______ |
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|
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6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
- |
40,755 |
|
Other debtors |
|
52,311 |
247 |
|
|
|
_______ |
_______ |
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|
|
52,311 |
41,002 |
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|
|
_______ |
_______ |
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|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
995 |
967 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
26,000 |
34,002 |
|
Corporation tax |
|
5,060 |
2,736 |
|
Other creditors |
|
6,600 |
600 |
|
|
|
_______ |
_______ |
|
|
|
38,655 |
38,305 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Included in debtors (note 6) |
|
215 |
247 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Related party transactions
During the year the company entered into the following transactions with related parties:
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Transaction value |
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Balance owed by/(owed to) |
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|
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
Loan to connected company |
- |
- |
50,000 |
- |
|
Loan from group company
|
- |
- |
(
26,000) |
- |
|
|
_______ |
_______ |
_______ |
_______ |
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10.
Controlling party
The company is a wholly owned subsidiary of Mosspark Estates 1 Ltd.