Company No:
Contents
| Note | 28.02.2025 | |
| £ | ||
| Fixed assets | ||
| Investments | 3 |
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| 1,058,618 | ||
| Current assets | ||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 1,856,781 | ||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 1,783,448 | |
| Total assets less current liabilities | 2,842,066 | |
| Creditors: amounts falling due after more than one year | 6 | (
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| Accruals and deferred income | (
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| Net liabilities | (
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| Capital and reserves | ||
| Called-up share capital |
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| Profit and loss account | (
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| Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Mortarsell Limited (registered number:
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Dr P J Edwards
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Mortarsell Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Compton View Residential Care Home, 267 St Michaels Avenue, Yeovil, Somerset, BA21 4NB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £86,232. The Company is supported through its other group companies and through a bank loan. The director has received assurances that its bank loan facilities will continue to be available for at least 12 months from the date of signing these financial statements.
The director has reasonable expectation that the Company has adequate resources to meet any foreseeable debts for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
The financial statements have been prepared for a shortened five month period to bring the financial reporting in alignment with the other companies in the group.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
Dividends on equity securities are recognised in income when receivable.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
| Period from 15.10.2024 to 28.02.2025 |
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| Number | |
| Monthly average number of persons employed by the Company during the period, including the director |
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Investments in subsidiaries
| 28.02.2025 | |
| £ | |
| Cost | |
| At 15 October 2024 | 0 |
| Additions |
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| At 28 February 2025 |
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| Carrying value at 28 February 2025 |
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At the balance sheet date the company had 1 wholly owned subsidiary, acquired within the period.
| 28.02.2025 | |
| £ | |
| Amounts owed by Group undertakings |
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| Other debtors |
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| 28.02.2025 | |
| £ | |
| Bank loans (secured) |
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| 28.02.2025 | |
| £ | |
| Bank loans (secured) |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 28.02.2025 | |
| £ | |
| Bank loans (secured / repayable by instalments) |
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Transactions with entities in which the entity itself has a participating interest
The company has taken advantage of the exemptions provided from disclosing transactions with its wholly owned subsidiary.