Company No: 12421731 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.03.2022		31.01.2021
		£		£
Fixed assets
Investment property	3	150,000		75,000
		150,000		75,000
Current assets
Debtors	4	10,000		50,000
Cash at bank and in hand		501		0
		10,501		50,000
Creditors
Amounts falling due within one year	5	( 18,749)		( 5,352)
Net current (liabilities)/assets		(8,248)		44,648
Total assets less current liabilities		141,752		119,648
Creditors
Amounts falling due after more than one year	6	( 39,815)		( 46,296)
Provision for liabilities		( 18,749)		( 13,953)
Net assets		83,188		59,399
Capital and reserves
Called-up share capital	7	1		1
Profit and loss account		83,187		59,398
Total shareholder's funds		83,188		59,399

For the financial period ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Moat Units Ltd (registered number: 12421731) were approved and authorised for issue by the Director on 16 December 2022. They were signed on its behalf by:

Jed Peacock Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Moat Units Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Pottery, Moorhaven, Ivybridge, PL21 0HB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The accounting reference period ending 31 January 2022 is extended so as to end on 31 March 2022. Subsequent periods will end on the same day and month in future years, therefore comparatives are not entirely comparable.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	Period from 01.02.2021 to 31.03.2022		Period from 23.01.2020 to 31.01.2021
	Number		Number
Monthly average number of persons employed by the Company during the period, including the director	1		1

3. Investment property

	Investment property
	£
Valuation
As at 01 February 2021	75,000
Additions	51,320
Fair value movement	23,680
As at 31 March 2022	150,000

Valuation

The investment property was valued at £150,000 by the directors at the date of the financial statements.

4. Debtors

	31.03.2022		31.01.2021
	£		£
Other debtors	10,000		50,000

5. Creditors: amounts falling due within one year

	31.03.2022		31.01.2021
	£		£
Bank loans and overdrafts	5,556		3,715
Trade creditors	208		0
Amounts owed to director	0		137
Accruals and deferred income	2,748		1,500
Corporation tax	785		0
Other creditors	9,452		0
	18,749		5,352

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

	31.03.2022		31.01.2021
	£		£
Bank loans	39,815		46,296

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	31.03.2022		31.01.2021
	£		£
Bank loans (repayable by instalments)	17,593		24,074

7. Called-up share capital

	31.03.2022		31.01.2021
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

8. Related party transactions

During the year, a loan repayment of £30,000 was made by a company with a director in common. Interest of £10,000 was charged on the loan during the year, and £10,000 remains due to Moat Units Ltd by the company at the year end.

At the year end, Moat Units Ltd owed £8,492 to another company with a director in common.

9. Profit and loss account

	31.03.2022		31.01.2021
	£		£
Profit and loss account - distributable	3,257		(1,351)
Profit and loss account - non-distributable	79,930		60,749
	83,187		59,398

Profit and loss account - distributable

The profit and loss account distributable reserve is made up of the brought forward balance plus profit for the year, less any dividends paid in the year.

Profit and loss account - non distributable

The profit and loss account - non distributable reserve is made up from the revaluations of investment properties as disclosed in investment property note and the deferred tax movement in respect of the revaluations.