Morvan Investments Ltd 08661251 false 2021-06-01 2022-05-31 2022-05-31 The principal activity of the company is The company was incorporated on 22 August 2013 but stated trading on 13 January 2014 Digita Accounts Production Advanced 6.30.9574.0 true 08661251 2021-06-01 2022-05-31 08661251 2022-05-31 08661251 core:CurrentFinancialInstruments 2022-05-31 08661251 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 08661251 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-31 08661251 bus:SmallEntities 2021-06-01 2022-05-31 08661251 bus:AuditExemptWithAccountantsReport 2021-06-01 2022-05-31 08661251 bus:FullAccounts 2021-06-01 2022-05-31 08661251 bus:SmallCompaniesRegimeForAccounts 2021-06-01 2022-05-31 08661251 bus:RegisteredOffice 2021-06-01 2022-05-31 08661251 bus:Director2 2021-06-01 2022-05-31 08661251 bus:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 08661251 core:LandBuildings core:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 08661251 core:OtherRelatedParties 2021-06-01 2022-05-31 08661251 countries:EnglandWales 2021-06-01 2022-05-31 08661251 2021-05-31 08661251 core:LandBuildings core:OwnedOrFreeholdAssets 2021-05-31 08661251 2020-06-01 2021-05-31 08661251 2021-05-31 08661251 core:CurrentFinancialInstruments 2021-05-31 08661251 core:CurrentFinancialInstruments core:WithinOneYear 2021-05-31 08661251 core:LandBuildings core:OwnedOrFreeholdAssets 2021-05-31 iso4217:GBP xbrli:pure

Registration number: 08661251

Morvan Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2022

 

Morvan Investments Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Morvan Investments Ltd

(Registration number: 08661251)
Balance Sheet as at 31 May 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

736,657

896,029

Current assets

 

Debtors

6

86,836

92,256

Cash at bank and in hand

 

738,027

332,700

 

824,863

424,956

Creditors: Amounts falling due within one year

7

(26,257)

(7,112)

Net current assets

 

798,606

417,844

Net assets

 

1,535,263

1,313,873

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,535,163

1,313,773

Shareholders' funds

 

1,535,263

1,313,873

For the financial year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 September 2022 and signed on its behalf by:
 

.........................................
Mr Richard John Eves
Director

 

Morvan Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

The principal place of business is:
Old Cottage
Goodworth Clatford
Andover
Hampshire
SP11 7QY
England

2

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 from rents received from investment properties. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

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.

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.

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.

 

Morvan Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

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.

3

Taxation

2022

2021

£

£

Corporation tax

25,607

5,952

Deferred tax

-

-

25,607

5,952

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2021 - 3).

 

Morvan Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 June 2021

896,029

896,029

Disposals

(159,372)

(159,372)

At 31 May 2022

736,657

736,657

Depreciation

Carrying amount

At 31 May 2022

736,657

736,657

At 31 May 2021

896,029

896,029

6

Debtors

Current

Note

2022
£

2021
£

Amounts owed by related parties

8

86,830

92,256

Other debtors

 

6

-

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

25,607

5,952

Other creditors

650

1,160

26,257

7,112

 

Morvan Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022

8

Related party transactions

Summary of transactions with other related parties

Morvan Trading Limited (MTL). At the balance sheet date the amount due from MTL was £86,830 (2021: £92,256).