IRIS Accounts Production v25.1.0.734 09894497 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh098944972023-12-31098944972024-12-31098944972024-01-012024-12-31098944972022-12-31098944972023-01-012023-12-31098944972023-12-3109894497ns15:EnglandWales2024-01-012024-12-3109894497ns14:PoundSterling2024-01-012024-12-3109894497ns10:Director12024-01-012024-12-3109894497ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3109894497ns10:SmallEntities2024-01-012024-12-3109894497ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3109894497ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3109894497ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3109894497ns10:FullAccounts2024-01-012024-12-3109894497ns10:Director22024-01-012024-12-3109894497ns10:RegisteredOffice2024-01-012024-12-3109894497ns5:CurrentFinancialInstruments2024-12-3109894497ns5:CurrentFinancialInstruments2023-12-3109894497ns5:Non-currentFinancialInstruments2024-12-3109894497ns5:Non-currentFinancialInstruments2023-12-3109894497ns5:ShareCapital2024-12-3109894497ns5:ShareCapital2023-12-3109894497ns5:RetainedEarningsAccumulatedLosses2024-12-3109894497ns5:RetainedEarningsAccumulatedLosses2023-12-3109894497ns5:FurnitureFittings2024-01-012024-12-3109894497ns5:MotorVehicles2024-01-012024-12-3109894497ns5:FurnitureFittings2023-12-3109894497ns5:MotorVehicles2023-12-3109894497ns5:FurnitureFittings2024-12-3109894497ns5:MotorVehicles2024-12-3109894497ns5:FurnitureFittings2023-12-3109894497ns5:MotorVehicles2023-12-3109894497ns5:CostValuation2023-12-3109894497ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3109894497ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3109894497ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-12-3109894497ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-12-3109894497ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-12-3109894497ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-12-3109894497ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-12-3109894497ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-31
REGISTERED NUMBER: 09894497 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE MORLEY ASSETS LTD

THE MORLEY ASSETS LTD (REGISTERED NUMBER: 09894497)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE MORLEY ASSETS LTD

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTORS: J D Morley
Mrs C E Morley





REGISTERED OFFICE: 21 Orgreave Place
Sheffield
South Yorkshire
S13 9LU





REGISTERED NUMBER: 09894497 (England and Wales)

THE MORLEY ASSETS LTD (REGISTERED NUMBER: 09894497)

BALANCE SHEET
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 55,450 74,456
Investments 5 10 10
Investment property 6 - 841,200
55,460 915,666

CURRENT ASSETS
Debtors 7 416,882 305,356
Cash at bank 245,816 15,798
662,698 321,154
CREDITORS
Amounts falling due within one year 8 8,916 118,995
NET CURRENT ASSETS 653,782 202,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

709,242

1,117,825

CREDITORS
Amounts falling due after more than one
year

9

(57,760

)

(513,581

)

PROVISIONS FOR LIABILITIES - (21,279 )
NET ASSETS 651,482 582,965

THE MORLEY ASSETS LTD (REGISTERED NUMBER: 09894497)

BALANCE SHEET - continued
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 651,472 582,955
651,482 582,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





J D Morley - Director


THE MORLEY ASSETS LTD (REGISTERED NUMBER: 09894497)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

The Morley Assets Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


All monetary values stated within these financial statements are rounded to the nearest £.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 Income Statement, 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.


THE MORLEY ASSETS LTD (REGISTERED NUMBER: 09894497)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 5,011 75,745 80,756
DEPRECIATION
At 1 January 2024 1,566 4,734 6,300
Charge for year 1,253 17,753 19,006
At 31 December 2024 2,819 22,487 25,306
NET BOOK VALUE
At 31 December 2024 2,192 53,258 55,450
At 31 December 2023 3,445 71,011 74,456

THE MORLEY ASSETS LTD (REGISTERED NUMBER: 09894497)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2024
and 31 December 2024 10
NET BOOK VALUE
At 31 December 2024 10
At 31 December 2023 10

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 841,200
Disposals (841,200 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 841,200

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2023 81,860

7. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 29,095 22,045
Amounts owed by associates 172,400 281,673
Other debtors 40,122 1,638
241,617 305,356

Amounts falling due after more than one year:
Other debtors 175,265 -

Aggregate amounts 416,882 305,356

THE MORLEY ASSETS LTD (REGISTERED NUMBER: 09894497)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts (see note 10) - 26,481
Hire purchase contracts 5,638 3,362
Trade creditors 5 16
Amounts owed to group undertakings - 76,177
Taxation and social security 216 5,277
Other creditors 3,057 7,682
8,916 118,995

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans (see note 10) - 450,183
Hire purchase contracts 57,760 63,398
57,760 513,581

Amounts falling due in more than five years:

Repayable by instalments
Bank loans greater than 5 yrs
and payable by instalments - 344,258
- 344,258

10. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 26,481

Amounts falling due between one and two years:
Bank loans due after 12 months - 26,481

Amounts falling due between two and five years:
Bank loans - 2-5 years - 79,444

Amounts falling due in more than five years:

THE MORLEY ASSETS LTD (REGISTERED NUMBER: 09894497)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

10. LOANS - continued
31.12.24 31.12.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans greater than 5 yrs
and payable by instalments - 344,258
- 344,258