Registration number:
Mostly Property Limited
Chartered Accountants
Registration number:
Mostly Property Limited
Chartered Accountants
Mostly Property Limited
Contents
|
Company Information |
|
|
Accountants' Report |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Mostly Property Limited
Company Information
|
Directors |
Mrs J Vickers D W Spencer L A Ousey J D C Copeland-Eccles Mr D J Eccles |
|
Company secretary |
L A Ousey |
|
Registered office |
|
|
Accountants |
|
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Mostly Property Limitedfor the Year Ended 30 June 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mostly Property Limited for the year ended 30 June 2025 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Mostly Property Limited, as a body, in accordance with the terms of our engagement letter dated 9 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of Mostly Property Limited and state those matters that we have agreed to state to the Board of Directors of Mostly Property Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mostly Property Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Mostly Property Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mostly Property Limited. You consider that Mostly Property Limited 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 accounts of Mostly Property Limited. 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 accounts.
34 High East Street
Dorchester
Dorset
DT1 1HA
Mostly Property Limited
(Registration number: 03607243)
Balance Sheet as at 30 June 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investment property |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
10,000 |
10,000 |
|
|
Revaluation reserve |
642,332 |
642,332 |
|
|
Retained earnings |
2,880,814 |
2,810,062 |
|
|
Shareholders' funds |
3,533,146 |
3,462,394 |
For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
Mostly Property Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025
|
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Mostly Property Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as shown below:
Freehold land and buildings are not depreciated as the Directors consider that the residual value of the assets is not less than the carrying value in the Accounts,
|
Asset class |
Depreciation method and rate |
|
Furniture, fixtures and fittings |
25% reducing balance |
|
Motor Vehicles |
25% reducing balance |
|
Computer equipment |
25% reducing balance |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Mostly Property Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
|
Tangible assets |
|
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||
|
At 1 July 2024 |
|
|
|
|
At 30 June 2025 |
|
|
|
|
Depreciation |
|||
|
At 1 July 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
At 30 June 2025 |
|
|
|
|
Carrying amount |
|||
|
At 30 June 2025 |
|
|
|
|
At 30 June 2024 |
|
|
|
|
Investment properties |
|
2025 |
|
|
At 1 July 2024 |
|
|
At 30 June 2025 |
|
The properties have been valued by the Directors based on a desktop valuation prepared by a local estate and letting agent.
Mostly Property Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
|
|
Less non-current portion |
( |
( |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
2025 |
2024 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
|
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Loans to related parties
|
2025 |
Key management |
Total |
|
At start of period |
|
|
|
At end of period |
|
|
|
|
||
|
2024 |
Key management |
Total |
|
At start of period |
|
|
|
Repaid |
( |
( |
|
At end of period |
|
|
|
|
||