Acorah Software Products - Accounts Production 16.1.300 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 09589229 Mr Oluwaseun Olushanu iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09589229 2023-05-31 09589229 2024-05-31 09589229 2023-06-01 2024-05-31 09589229 frs-core:CurrentFinancialInstruments 2024-05-31 09589229 frs-core:Non-currentFinancialInstruments 2024-05-31 09589229 frs-core:ShareCapital 2024-05-31 09589229 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 09589229 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09589229 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 09589229 frs-bus:SmallEntities 2023-06-01 2024-05-31 09589229 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09589229 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09589229 frs-core:UnlistedNon-exchangeTraded 2024-05-31 09589229 frs-core:UnlistedNon-exchangeTraded 2023-05-31 09589229 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-05-31 09589229 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 09589229 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-05-31 09589229 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-05-31 09589229 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 09589229 frs-bus:Director1 2023-06-01 2024-05-31 09589229 frs-bus:Director1 2023-05-31 09589229 frs-bus:Director1 2024-05-31 09589229 frs-countries:EnglandWales 2023-06-01 2024-05-31 09589229 2022-05-31 09589229 2023-05-31 09589229 2022-06-01 2023-05-31 09589229 frs-core:CurrentFinancialInstruments 2023-05-31 09589229 frs-core:Non-currentFinancialInstruments 2023-05-31 09589229 frs-core:ShareCapital 2023-05-31 09589229 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 09589229
Morenike Investments Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09589229
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 - 5
- 5
CURRENT ASSETS
Debtors 5 132,550 112,295
Cash at bank and in hand 47,982 1,276
180,532 113,571
Creditors: Amounts Falling Due Within One Year 6 (183,664 ) (199,384 )
NET CURRENT ASSETS (LIABILITIES) (3,132 ) (85,813 )
TOTAL ASSETS LESS CURRENT LIABILITIES (3,132 ) (85,808 )
Creditors: Amounts Falling Due After More Than One Year 7 (18,752 ) (22,522 )
NET LIABILITIES (21,884 ) (108,330 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (21,885 ) (108,331 )
SHAREHOLDERS' FUNDS (21,884) (108,330)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Oluwaseun Olushanu
Director
09/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Morenike Investments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09589229 . The registered office is 3 Russell Close, Witham, CM8 1UH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover represents rental income and service charges receivable net of rent and service charge losses from voids. Turnover is recognised as the period of rent is due.
Included within turnover is the consultancy fee charged by the Company for provision of professional services.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Investments
Unlisted
£
Cost
As at 1 June 2023 5
Disposals (5 )
As at 31 May 2024 -
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 5
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 85,068 -
Other debtors 40,831 112,295
Director's loan account 6,650 -
132,549 112,295
Due after more than one year
Other taxes and social security 1 -
132,550 112,295
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 3,883 4,274
Other taxes and social security - 1,104
Other loans 95,882 95,156
Director's loan account - 70,309
Amounts owed to related parties 83,899 28,541
183,664 199,384
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 18,752 22,522
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Oluwaseun Olushanu - 6,650 - - 6,650
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
Moving Bricks LimitedCommon DirectorshipAt 31 May 2024, the Company owed £15,734 (2023: £16,664).

Moving Bricks Limited

Common Directorship

At 31 May 2024, the Company owed £15,734 (2023: £16,664).

Clacton SPV LimitedCommon DirectorshipAt 31 May 2024, the Company was owed £nil (2023: £42,802).

Clacton SPV Limited

Common Directorship

At 31 May 2024, the Company was owed £nil (2023: £42,802).

Mayes Lane SPV LimitedCommon DirectorshipAt 31 May 2024, the Company was owed £12,405 (2023: £15,205).

Mayes Lane SPV Limited

Common Directorship

At 31 May 2024, the Company was owed £12,405 (2023: £15,205).

MZT LimitedThe Director of the Company is also a Directior of Tendering Developments Limited. A Director of MZT Limited is also a Director of Tendering Developments Limited.At 31 May 2024, the Company owed £726 (2023: £726).

MZT Limited

The Director of the Company is also a Directior of Tendering Developments Limited. A Director of MZT Limited is also a Director of Tendering Developments Limited.

At 31 May 2024, the Company owed £726 (2023: £726).

SeunMah LimitedCommon DirectorshipAt 31 May 2024, the Company was owed £7,045 (2023: £5,645).

SeunMah Limited

Common Directorship

At 31 May 2024, the Company was owed £7,045 (2023: £5,645).

Soka Enterprises LtdCommon DirectorshipAt 31 May 2024, the Company owed £45,113 (2023: £11,067).
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Soka Enterprises Ltd

Common Directorship

At 31 May 2024, the Company owed £45,113 (2023: £11,067).

Oluwaseun OlushanuDirectorIn the year, the Director received a salary of £15,000 (2023: Salary of £15,000 and Director NI of £857).

Oluwaseun Olushanu

Director

In the year, the Director received a salary of £15,000 (2023: Salary of £15,000 and Director NI of £857).

Tendering Developments LimitedCommon DirectorshipAt 31 May 2024, the Company was owed £3,165 (2023: £1,290).

Tendering Developments Limited

Common Directorship

At 31 May 2024, the Company was owed £3,165 (2023: £1,290).

Oluwaseun OlushanuDirectorAt 31 May 2024, the Company was owed £6,650 (2023: The Company owed £70,309).

Oluwaseun Olushanu

Director

At 31 May 2024, the Company was owed £6,650 (2023: The Company owed £70,309).

Adeshanu LimitedCommon DirectorshipAt 31 May 2024, the Company owed £14,101 (2023: The Company was owed £46,853).

Adeshanu Limited

Common Directorship

At 31 May 2024, the Company owed £14,101 (2023: The Company was owed £46,853).

Adeshanu Property LtdCommon DirectorshipAt 31 May 2024, the Company owed £8,951 (2023: The Company was owed £500).

Adeshanu Property Ltd

Common Directorship

At 31 May 2024, the Company owed £8,951 (2023: The Company was owed £500).

Tonade LtdConnected DirectorshipAt 31 May 2024, the Company was owed £7,916 (2023: The Company owed £84).

Tonade Ltd

Connected Directorship

At 31 May 2024, the Company was owed £7,916 (2023: The Company owed £84).

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