Mortgage RE Mortgage Limited Filleted Accounts
Mortgage RE Mortgage Limited
Company No. 04872900
Information for Filing with The Registrar
31 August 2024
Mortgage RE Mortgage Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 August 2024.
Principal activities
The principal activity of the company during the year under review was activities of insurance agents and brokers.
Directors
The Directors who served at any time during the year were as follows:
C. Stokes
K.V. Stokes
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
C. Stokes
Director
31 August 2024
Mortgage RE Mortgage Limited Balance Sheet Registrar
at
31 August 2024
Company No.
04872900
Notes
2024
2023
£
£
Fixed assets
Intangible assets
4
--
Tangible assets
5
25,95326,013
25,95326,013
Current assets
Debtors
6
24,8079,769
Cash at bank and in hand
22,80955,426
47,61665,195
Creditors: Amount falling due within one year
7
(72,218)
(76,550)
Net current liabilities
(24,602)
(11,355)
Total assets less current liabilities
1,35114,658
Net assets
1,35114,658
Capital and reserves
Share premium account
8
100100
Profit and loss account
8
1,25114,558
Total equity
1,35114,658
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 August 2024 the company was entitled to exemption from audit 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 August 2024
And signed on its behalf by:
C. Stokes
Director
31 August 2024
Mortgage RE Mortgage Limited Notes to the Accounts Registrar
for the year ended 31 August 2024
1
General information
Its registered number is: 04872900
Its registered office is:
C/O Wilkes Associates Ltd
483 Birmingham Road
Marlbrook, Bromsgrove
Worcestershire
B61 0HZ
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Leasehold land and buildings
0% Reducing balance
Furniture, fittings and equipment
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
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.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Intangible fixed assets
Goodwill
Total
£
£
Cost
At 1 September 2023
25,00025,000
At 31 August 2024
25,00025,000
Amortisation and impairment
At 1 September 2023
25,00025,000
At 31 August 2024
25,00025,000
Net book values
At 31 August 2024
--
At 31 August 2023
--
5
Tangible fixed assets
Land and buildings
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 September 2023
25,77311,90937,682
At 31 August 2024
25,77311,90937,682
Depreciation
At 1 September 2023
-11,66911,669
Charge for the year
-6060
At 31 August 2024
-11,72911,729
Net book values
At 31 August 2024
25,77318025,953
At 31 August 2023
25,77324026,013
6
Debtors
2024
2023
£
£
Loans to directors
10,345-
Other debtors
14,4629,769
24,8079,769
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
14,58517,158
Other loans
-50,000
Corporation tax
4,6336,280
Other taxes and social security
-112
Other creditors
50,000-
Accruals and deferred income
3,0003,000
72,21876,550
8
Reserves
Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Profit and loss account - includes all current and prior period retained profits and losses.
9
Advances and credits to directors
Included within Other debtors are the following loans to directors:
Director
Description
At 1 September 2023
Advanced
Repaid
At 31 August 2024
£
£
£
£
C. StokesAdvances-10,345-10,345
-10,345-10,345
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