Mosspark Residential Ltd 31/10/2021 iXBRL
Mosspark Residential Ltd 31/10/2021 iXBRL
Company registration number:
SC676796
Trading as
Mosspark Residential Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Company number |
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Registered office |
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Business address |
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Accountants |
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123 Irish Street | ||
Dumfries | ||
DG1 2PE | ||
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Mosspark Residential Ltd
Period ended 31 October 2021
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 Residential Ltd for the period ended 31 October 2021 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 Residential 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 Residential Ltd and state those matters that we have agreed to state to the board of directors of Mosspark Residential 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 Residential Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Mosspark Residential 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 Residential Ltd. You consider that Mosspark Residential Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Mosspark Residential 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.
Chartered Accountants
123 Irish Street
Dumfries
DG1 2PE
5 July 2022
Statement of financial position
31 October 2021
31/10/21 | |||||
Note | £ | £ | |||
Fixed assets | |||||
Tangible assets | 6 |
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Current assets | |||||
Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||
within one year | 8 |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities | 9 |
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Net assets |
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Capital and reserves | |||||
Called up share capital | 11 |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
05 July 2022
, and are signed on behalf of the board by:
Director
Company registration number:
SC676796
Notes to the financial statements
Period ended 31 October 2021
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
3.
Accounting policies
Basis of preparation
Turnover
Turnover represents the total rental income received during the year.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Taxation
Investment property
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of an asset, and is credited or charged to profit or loss.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments and Section12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company'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 recognised 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 financing transaction, where the transaction is measured at the present value of the 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 period amounted to Nil.
5.
Exceptional items
Period | |||
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31/10/21 | |||
£ | |||
Group loan waived | 1,780,539 | ||
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6.
Investment property
£ | ||
Acquisitions through business combinations |
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Fair value adjustments |
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Fair value at 31 October 2021 |
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The directors deem the value of the properties to reflect fair value at 31 October 2021.
7.
Debtors
31/10/21 | |||
£ | |||
Other debtors |
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8.
Creditors: amounts falling due within one year
31/10/21 | |||
£ | |||
Trade creditors |
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Corporation tax |
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Other creditors |
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9.
Provisions
Deferred tax (note 10) | Total | ||
£ | £ | ||
At 6 October 2020 | - | - | |
Additions |
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At 31 October 2021 |
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10.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
31/10/21 | |||
£ | |||
Included in provisions (note 9) |
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The deferred tax account consists of the tax effect of timing differences in respect of:
31/10/21 | |||
£ | |||
Fair value adjustment of investment property |
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11.
Called up share capital
Authorised share capital
31/10/21 | |||||
No | £ | ||||
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1 | 1 | |||
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Issued, called up and fully paid
31/10/21 | |||||
No | £ | ||||
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1 | 1 | |||
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Share movements
No | £ | |||
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At 6 October 2020 | - | - | ||
Issue of shares | 1 | 1 | ||
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At 31 October 2021 | 1 | 1 | ||
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12.
Related party transactions
There were no related party transactions during the period.
13.
Controlling party