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REGISTERED NUMBER: 03769820 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Mortland Limited

Mortland Limited (Registered number: 03769820)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Mortland Limited (Registered number: 03769820)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
Fixed assets
Investment property 4 4,590,000 3,220,000

Current assets
Debtors 5 52,884 971,439
Cash at bank 292,209 73,744
345,093 1,045,183
Creditors: amounts falling due within
one year

6

132,132

99,113
Net current assets 212,961 946,070
Total assets less current liabilities 4,802,961 4,166,070

Creditors: amounts falling due after
more than one year

7

-

(727,806

)

Provisions for liabilities (665,330 ) (315,557 )
Net assets 4,137,631 3,122,707

Capital and reserves
Called up share capital 9 631 631
Share premium 564,219 564,219
Capital redemption reserve 40 40
Fair value reserve 2,638,270 1,621,786
Retained earnings 934,471 936,031
Shareholders' funds 4,137,631 3,122,707

Mortland Limited (Registered number: 03769820)

Balance Sheet - continued
31 August 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





J J A Atkins - Director


Mortland Limited (Registered number: 03769820)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. Statutory information

Mortland Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03769820

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

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

Rental income
Rental income is measured at the consideration received or receivable and represents amounts receivable for rental income.

Investment property
The investment property is initially recorded at cost and subsequently at fair value at the balance sheet date. Any movement in the fair value is recognised in the profit and loss account.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


Mortland Limited (Registered number: 03769820)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Investment property
Total
£   
Fair value
At 1 September 2023 3,220,000
Revaluations 1,370,000
At 31 August 2024 4,590,000
Net book value
At 31 August 2024 4,590,000
At 31 August 2023 3,220,000

The investment properties have been valued at fair value by the directors of the company. The fair value is the market value, subject to and with the benefit of the existing leases.

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 52,884 971,439

Mortland Limited (Registered number: 03769820)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts - 61,609
Taxation and social security 90,219 22,563
Other creditors 41,913 14,941
132,132 99,113

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 727,806

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 789,415

The bank loan and overdraft are secured by a fixed and floating charge over the undertaking and all property and assets, including rental sums.

9. Called up share capital

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
631 Ordinary £1 631 631

10. Related party disclosures

During the year, the company advanced a director £nil (2023: £900) and he repaid £900 (2023: £nil). At the year end, the director owed the company £nil (2023: £900). The advances were subject to interest at 4.75% above the Bank of England base rate, unsecured and repayable on demand.