| Configure (RE) Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
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| 1 |
Accounting policies |
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Basis of preparation |
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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).
The accounts have been prepared on a going concern basis which the director considers to be appropriate. Start up losses were envisaged in the business plan and the results and financial position of the company are consistent with that plan. In addition the parent entity, Morgan Real Estate Partners LLP, has supported the company and intends to continue doing so for the foreseeable future. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover represents revenue earned under contracts for the sale of products and from the rendering of associated services. Turnover is recognised by reference to the stage of completion of the contract and reflects the value of work performed. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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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. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
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Average number of persons employed by the company |
0 |
|
0 |
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| 3 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
|
Cost |
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At 1 April 2024 |
2,420 |
|
At 31 March 2025 |
2,420 |
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Depreciation |
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At 1 April 2024 |
1,210 |
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Charge for the year |
605 |
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At 31 March 2025 |
1,815 |
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Net book value |
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At 31 March 2025 |
605 |
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At 31 March 2024 |
1,210 |
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| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
37,531 |
|
22,899 |
|
Other debtors |
3,140 |
|
- |
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|
|
|
|
40,671 |
|
22,899 |
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| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
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Trade creditors |
- |
|
54,336 |
|
Amounts owed to group undertakings |
|
150,333 |
|
150,333 |
|
Accruals and deferred income |
3,000 |
|
2,000 |
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Other creditors |
- |
|
1,051 |
|
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|
|
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|
153,333 |
|
207,720 |
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| 6 |
Related party transactions |
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At 31 March 2025 the company owed £150,333 (2024 - £150,333) to its parent undertaking. This balance is due within one year, unsecured, interest free and repayable on demand. |
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| 7 |
Other information |
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Configure (RE) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
25 Watling Street |
|
London |
|
EC4M 9BR |