Morel Eyewear (U.K.) Limited - Filleted accounts

Registered number

11624943

Morel Eyewear (U.K.) Limited

Filleted Accounts

For the year ended 31 December 2024

Morel Eyewear (U.K.) Limited
Registered number:		11624943
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Current assets
Debtors	4	288,391			285,406
Cash at bank and in hand		63,226			43,379
		351,617			328,785

Creditors: amounts falling due within one year	5	(650,226)			(564,088)

Net current liabilities			(298,609)			(235,303)

Total assets less current liabilities			(298,609)			(235,303)

Creditors: amounts falling due after more than one year	6		(5,000)			(15,000)



Net liabilities			(303,609)			(250,303)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(303,709)			(250,403)

Shareholder's funds			(303,609)			(250,303)

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Jerome Morel
Director
Approved by the board on 29 August 2025

Morel Eyewear (U.K.) Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	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) and the companies Act 2006. The presentation currency of the financial statements is the Pound Sterling (£).

	Going concern
	The company is reliant on its parent company for funds to support its working capital. The parent company has pledged continued support for the company for at least 12 months from the date of the approval of these financial statements. This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payments. As with any company placing reliance on other related parties for financial support, there is no certainty that this support will continue, although at the date of approval of these financial statements, there is no reason to believe that they will not do so. On this basis, the director believes that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the management is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	Current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and in hand, short term deposits with financial institutions. Cash equivalents are defined as short term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

	Provisions
	Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Audit information

	The audit report is unqualified.

	Senior statutory auditor:	Indra Raj Giri ACA, FCCA
	Firm:	Makesworth Audit Services Ltd
	Date of audit report:	29 August 2025


3	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		3		4


4	Debtors		2024		2023
£				£

	Trade debtors		196,227		263,406
	Amounts owed by group undertakings		67,189		-
	Other debtors		24,975		22,000
			288,391		285,406


5	Creditors: amounts falling due within one year		2024		2023
£				£

	Bank loans and overdrafts		10,000		10,000
	Trade creditors		2,148		432,256
	Amounts owed to group undertakings		579,939		103,321
	Other taxation and social security		8,107		10,997
	Other creditors		50,032		7,514
			650,226		564,088


6	Creditors: amounts falling due after one year		2024		2023
£				£

	Bank loans		5,000		15,000


7	Other financial commitments		2024		2023
£				£

	Total future minimum payments under non-cancellable operating leases		15,576		3,876


8	Related party transactions

	Included within debtors is an amount of £67,189 (2023: £Nil) due from the parent company. Included within creditors is an amount of £579,939 (2023: £103,321) due to the parent company. Parent Company Loan Waiver During the year, the parent company of Morel Eyewear (U.K.) Limited waived a loan amount of £122,990 (2023: £133,981) that had previously been provided to the company. This transaction has been presented as an exceptional item within the profit and loss account.


9	Controlling party

	Morel Eyerwear (U.K.) Limited is a wholly owned subsidiary of Morel France SAS, a company registered in France.


10	Other information

	Morel Eyewear (U.K.) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
	59-60 Thames Street
	Windsor, Berkshire
	SL4 1TX