Morvan Investments Ltd 08661251 false 2023-06-01 2024-05-31 2024-05-31 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 true 08661251 2023-06-01 2024-05-31 08661251 2024-05-31 08661251 core:CurrentFinancialInstruments 2024-05-31 08661251 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 08661251 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 08661251 bus:SmallEntities 2023-06-01 2024-05-31 08661251 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08661251 bus:FilletedAccounts 2023-06-01 2024-05-31 08661251 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08661251 bus:RegisteredOffice 2023-06-01 2024-05-31 08661251 bus:Director2 2023-06-01 2024-05-31 08661251 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08661251 core:OtherRelatedParties 2023-06-01 2024-05-31 08661251 countries:EnglandWales 2023-06-01 2024-05-31 08661251 2023-05-31 08661251 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 08661251 2022-06-01 2023-05-31 08661251 2023-05-31 08661251 core:CurrentFinancialInstruments 2023-05-31 08661251 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 08661251 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 08661251

Morvan Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

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 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

736,657

736,657

Current assets

 

Debtors

6

120,530

95,554

Cash at bank and in hand

 

1,009,889

859,397

 

1,130,419

954,951

Creditors: Amounts falling due within one year

7

(13,090)

(5,897)

Net current assets

 

1,117,329

949,054

Net assets

 

1,853,986

1,685,711

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,853,886

1,685,611

Shareholders' funds

 

1,853,986

1,685,711

For the financial year ending 31 May 2024 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2024 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 2024

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Morvan Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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.

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

2024

2023

£

£

Corporation tax

12,458

5,263

12,458

5,263

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Morvan Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 June 2023

736,657

736,657

At 31 May 2024

736,657

736,657

Depreciation

Carrying amount

At 31 May 2024

736,657

736,657

At 31 May 2023

736,657

736,657

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

8

110,844

88,478

Other debtors

 

9,686

7,076

   

120,530

95,554

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

12,440

5,247

Other creditors

650

650

13,090

5,897

 

Morvan Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 £110,844 (2023: £88,478).