Moorhouse Properties & Lettings Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Moorhouse Properties & Lettings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10084562 . The registered office is Charnwood House, 46-48 Garden Street, Thurmaston, Leicestershire, LE4 8DS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

20% straight line

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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Moorhouse Properties & Lettings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.7. 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.

2.8. 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.

2.9. Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

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Moorhouse Properties & Lettings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2024	8,288
Additions	26,780

As at 31 March 2025	35,068

Depreciation
As at 1 April 2024	1,658
Provided during the period	7,013

As at 31 March 2025	8,671

Net Book Value
As at 31 March 2025	26,397

As at 1 April 2024	6,630

5. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	5,702,099

Investment properties were valued on a fair value basis on 31 March 2025 by the director.

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	12,903	8,813
Prepayments and accrued income	12,000	36,608
Other debtors	140,265	130,557

	165,168	175,978

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Moorhouse Properties & Lettings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	50,489	45,031
Bank loans and overdrafts	98,700	104,322
Other taxes and social security	728	741
Other creditors	75,853	76,054
Accruals and deferred income	1,380	1,344

	227,150	227,492

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	2,655,149	2,686,447

9. Secured Creditors

The mortgages are secured against the properties.

	2025		2024
	£		£
Bank loans and overdrafts	2,655,149		2,790,769

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

11. Reserves

	Revaluation Reserve
	£
As at 1 April 2024	1,832,443

As at 31 March 2025	1,832,443

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Moorhouse Properties & Lettings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Related Party Transactions

Directors Loan Account - these loans are free of interest and repayable on demand. The amount is included within other creditors.

Amount due to the related party: 2025: £70,615 (2024: £76,016)

Moorhouse Construction Ltd

A company in which the director is also director and shareholder.

Loan account - The loan is free of interest and repayable on demand and is included within other creditors/debtors.

Amount due (to)/from the related party: 2025: £5,182 (2024: (£1,611))

Moorhouse Investment Properties LLP

A company in which the director is also director and shareholder.

Loan account - The loan is free of interest and repayable on demand and is included within other debtors.

Amount due from the related party: 2025: £98,214 (2024: £92,464)

Moorhouse Projects Ltd

A company in which the director is also director and shareholder.

Loan account - The loan is free of interest and repayable on demand and is included within other debtors.

Amount due from the related party: 2025: £33,849 (2024: £16,751)

Mr I J Moorhouse T/a Moorhouse Properties

A property business in which the director is a sole proprietor.

Loan account - The loan is free of interest and repayable on demand and is included within other debtors.

Amount due from the related party: 2025: £4,139 (2024: £3,158)

13. Ultimate Controlling Party

Mr I Moorhouse is the ultimate controlling party by virtue of his beneficial ownership of 80% of the ordinary share capital of the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		26,397		6,630
Investment Properties	5		5,702,099		5,702,099

			5,728,496		5,708,729
CURRENT ASSETS
Debtors	6	165,168		175,978
Cash at bank and in hand		50,942		91,367

		216,110		267,345
Creditors: Amounts Falling Due Within One Year	7	(227,150 )		(227,492 )

NET CURRENT ASSETS (LIABILITIES)			(11,040 )		39,853

TOTAL ASSETS LESS CURRENT LIABILITIES			5,717,456		5,748,582

Creditors: Amounts Falling Due After More Than One Year	8		(2,655,149 )		(2,686,447 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(434,848 )		(431,092 )

NET ASSETS			2,627,459		2,631,043

CAPITAL AND RESERVES
Called up share capital	10		1,000		1,000
Share premium account			789,498		789,498
Revaluation reserve	11		1,832,443		1,832,443
Profit and Loss Account			4,518		8,102

SHAREHOLDERS' FUNDS			2,627,459		2,631,043