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REGISTERED NUMBER: 10859993 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

MORRELL PROPERTIES LIMITED

MORRELL PROPERTIES LIMITED (REGISTERED NUMBER: 10859993)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORRELL PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mrs L A Morrell
Mr C E Morrell





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 10859993 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

MORRELL PROPERTIES LIMITED (REGISTERED NUMBER: 10859993)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 365,235 365,235
365,235 365,235

CURRENT ASSETS
Debtors 6 - 8,004
Cash at bank 18,841 10,064
18,841 18,068
CREDITORS
Amounts falling due within one year 7 142,274 140,251
NET CURRENT LIABILITIES (123,433 ) (122,183 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,802

243,052

CREDITORS
Amounts falling due after more than one
year

8

247,999

247,999
NET LIABILITIES (6,197 ) (4,947 )

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 11 (6,397 ) (5,147 )
SHAREHOLDERS' FUNDS (6,197 ) (4,947 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MORRELL PROPERTIES LIMITED (REGISTERED NUMBER: 10859993)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





Mrs L A Morrell - Director


MORRELL PROPERTIES LIMITED (REGISTERED NUMBER: 10859993)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Morrell Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MORRELL PROPERTIES LIMITED (REGISTERED NUMBER: 10859993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 August 2022
and 31 July 2023 320
Depreciation
At 1 August 2022
and 31 July 2023 320
Net book value
At 31 July 2023 -
At 31 July 2022 -

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 August 2022
and 31 July 2023 365,235
Net book value
At 31 July 2023 365,235
At 31 July 2022 365,235

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income - 8,004

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts 141,138 139,218
Accruals and deferred income 1,136 1,033
142,274 140,251

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans more 5 yrs non-inst 247,999 247,999

MORRELL PROPERTIES LIMITED (REGISTERED NUMBER: 10859993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 247,999 247,999

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 247,999 247,999

The bank loan is secured over the investment property more fully described as 18 Westfield Close, Brighton BN1 8EN.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
100 A Ordinary £1 100 100
200 200

11. RESERVES
Retained
earnings
£   

At 1 August 2022 (5,147 )
Deficit for the year (1,250 )
At 31 July 2023 (6,397 )