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Registered Number: 07000959
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 August 2024

for

MORVENT MINING LIMITED

Directors Dr R G Moreby
Mrs A M Moreby
Registered Number 07000959
Registered Office 9 Wheatridge
Plympton
Plymouth
Devon
PL7 4QZ
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
Secretary Mrs A M Moreby
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 August 2024
Principal activities
The principal activity of the company in the year under review was that of mining consultancy.
Directors
The directors who have held office during the whole of the year were as follows:
Dr R G Moreby
Mrs A M Moreby
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Dr R G Moreby
Director

Date approved: 10 May 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Investment properties 3 380,363    362,250 
Tangible fixed assets 4 2,212    3,547 
Investments 5 528,491    375,101 
911,066    740,898 
Current assets      
Debtors 6 165,982    134,174 
Cash at bank and in hand 269,928    424,682 
435,910    558,856 
Creditors: amount falling due within one year 7 (45,507)   (30,531)
Net current assets 390,403    528,325 
 
Total assets less current liabilities 1,301,469    1,269,223 
Provisions for liabilities 8 (17,418)   (10,601)
Net assets 1,284,051    1,258,622 
 

Capital and reserves
     
Called up share capital 300    300 
Profit and loss account 1,283,751    1,258,322 
Shareholders' funds 1,284,051    1,258,622 
 


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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 10 May 2025 and were signed on its behalf by:


-------------------------------
Dr R G Moreby
Director
3
General Information
Morvent Mining Limited is a private company, limited by shares, registered in England and Wales, registration number 07000959, registration address 9 Wheatridge, Plympton, Plymouth, Devon, PL7 4QZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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.
Deferred taxation
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.
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% Reducing Balance
Computer Equipment 3 Years Straight Line
Investment properties
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.
Pension Costs and Other Post-Retirement Benefits
The company operates a defined contribution pension scheme. The contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Investment properties

Cost Other   Total
  £   £
At 01 September 2023 362,250    362,250 
Additions  
Disposals  
Revaluations 18,113    18,113 
At 31 August 2024 380,363    380,363 
Net book values
At 31 August 2024 380,363    380,363 
At 31 August 2023 362,250    362,250 

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus' or deficits arising from changes in the market value are recognised in the profit or loss.

Investment properties have been valued as at 31st August 2024 on the basis of their open market value with vacant possession by the director Dr R G Moreby.

Fair Value is represented by:
  Total
£
Revaluation in 2020 20,000 
Revaluation in 2022 15,000 
Revaluation in 2023 17,250 
Revaluation in 2024 18,113 
Cost 310,000 
380,363 



4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 September 2023 845    12,937    13,782 
Additions 274    333    607 
Disposals    
At 31 August 2024 1,119    13,270    14,389 
Depreciation
At 01 September 2023 691    9,544    10,235 
Charge for year 107    1,835    1,942 
On disposals    
At 31 August 2024 798    11,379    12,177 
Net book values
Closing balance as at 31 August 2024 321    1,891    2,212 
Opening balance as at 01 September 2023 154    3,393    3,547 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 September 2023 375,101    375,101 
Additions 98,500    98,500 
Transfer to/from tangible fixed assets  
Disposals (3,953)   (3,953)
Revaluations 58,843    58,843 
At 31 August 2024 528,491    528,491 
Cost or valuation at 31 August 2024 is represented by:

 Other Investments
£
Revaluation in 20182,024 
Revaluation in 20193,699 
Revaluation in 20207,100 
Revaluation in 202144,161 
Revaluation in 2022(7,213)
Revaluation in 20231,372 
Revaluation in 202458,843 
Cost418,505 
528,491 





6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 36,291    23,872 
Other Debtors 129,691    110,302 
165,982    134,174 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Taxation and Social Security 45,059    28,616 
Other Creditors 448    1,915 
45,507    30,531 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 17,418    10,601 
17,418    10,601 

9.

Director’s loan

Directors Advances, Credits and Guarantees

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

Dr R G Moreby   2024
£
  2023
£
Balance outstanding at start of year (63,227) (123,272)
Amounts advanced (14,070) (224,625)
Amounts repaid 18,226  284,670 
Balance outstanding at end of year (59,071) (63,227)

10.

Reserves

The retained earnings include a non-distributable amount of £70,363 from revaluation adjustments under FRS 102.
11.

Controlling party

The company is controlled by its directors.
4