MORTGAGE 65 LIMITED

Company Registration Number:
06732518 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

MORTGAGE 65 LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

MORTGAGE 65 LIMITED

Company Information

for the Period Ended 31 December 2022




Director: Sean David McParland
Robert Geoffrey Wyke
Secretary: Samantha Wyke
Registered office: Red Rose Court
Red Rose Court
Clayton Le Moors
Accrington
England
BB5 5JR
Company Registration Number: 06732518 (England and Wales)

MORTGAGE 65 LIMITED

Directors' Report Period Ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Principal Activities

The principle activity of the company continued to be that of providing mortgage advice.

Additional information

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Directors

The directors shown below have held office during the whole of the period from 01 January 2022 to 31 December 2022
Sean David McParland
Robert Geoffrey Wyke

Secretary
Samantha Wyke

This report was approved by the board of directors on 30 September 2023
And Signed On Behalf Of The Board By:

Name: Sean David McParland
Status: Director

MORTGAGE 65 LIMITED

Profit and Loss Account

for the Period Ended 31 December 2022


Notes

2022
£

2021
£
Turnover 278,472 395,479
Cost of sales ( 51,315 ) ( 55,750 )
Gross Profit or (Loss) 227,157 351,594
Income from coronavirus (COVID-19) business support grants 0 11,865
Distribution Costs ( 0 ) ( 0 )
Administrative Expenses ( 288,088 ) ( 306,847 )
Other operating income 0 0
Operating Profit or (Loss) ( 60,931 ) 44,747
Interest Receivable and Similar Income 0 0
Interest Payable and Similar Charges ( 0 ) ( 0 )
Profit or (Loss) Before Tax ( 60,931 ) 44,747
Tax on Profit ( 0 ) ( 8,502 )
Profit or (Loss) for Period ( 60,931 ) 36,245

The notes form part of these financial statements

MORTGAGE 65 LIMITED

Balance sheet

As at 31 December 2022


Notes

2022
£

2021
£
Fixed assets
Tangible assets: 4 950 1,491
Total fixed assets: 950 1,491
Current assets
Debtors: 5 63,976 135,704
Cash at bank and in hand: 0 15,976
Total current assets: 63,976 151,680
Creditors: amounts falling due within one year: 6 ( 15,756 ) ( 124,068 )
Net current assets (liabilities): 48,220 27,612
Total assets less current liabilities: 49,170 29,103
Provision for liabilities: ( 181 ) ( 284 )
Total net assets (liabilities): 48,989 28,819

The notes form part of these financial statements

MORTGAGE 65 LIMITED

Balance sheet continued

As at 31 December 2022


Notes

2022
£

2021
£
Capital and reserves
Called up share capital: 104 104
Profit and loss account: 48,885 28,715
Shareholders funds: 48,989 28,819

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 September 2023
And Signed On Behalf Of The Board By:

Name: Sean David McParland
Status: Director

The notes form part of these financial statements

MORTGAGE 65 LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
    Revenue from the sale of goods is recognised when the significant risks and rewards or ownership of the goods have passed to the buyer, the amount of the revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
    Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
    Office equipment 50% straight line
    Fixtured & fittings 15% straight line
    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 the asset and is credited or charged to profit or loss.

MORTGAGE 65 LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees


    2022

    2021
    Average number of employees during the period 11 11

MORTGAGE 65 LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 3. Off balance sheet disclosure

    No

MORTGAGE 65 LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Tangible assets

Office equipment Total
Cost £ £
At 01 January 2022 1,491 1,491
Additions 0 0
Disposals ( 0 ) ( 0 )
Revaluations 0 0
Transfers 0 0
At 31 December 2022 1,491 1,491
Depreciation
At 01 January 2022 0 0
Charge for year 541 541
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
At 31 December 2022 541 541
Net book value
At 31 December 2022 950 950
At 31 December 2021 1,491 1,491

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
Office equipment 50% straight line
Fixtured & fittings 15% straight line
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 the asset and is credited or charged to profit or loss.

MORTGAGE 65 LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Debtors


2022
£

2021
£
Trade debtors 63,976 135,704
Total 63,976 135,704

The directors only included 90% of the expected pipeline revenue in debtors. This is to take into account that not all cases will complete and therefore will not be paid.

MORTGAGE 65 LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

6.Creditors: amounts falling due within one year note


2022
£

2021
£
Bank loans and overdrafts 15,532
Trade creditors 224 582
Taxation and social security 6,660
Accruals and deferred income 43,445
Other creditors 73,381
Total 15,756 124,068