REGISTERED NUMBER: 01770470 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Morbridge International Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs J H Bibby

J Rudge

Mrs J H Marshall

SECRETARY:

J Rudge

REGISTERED OFFICE:

Cunard Buildings

Water Street

Liverpool

Merseyside

L3 1DS

REGISTERED NUMBER:

01770470 (England and Wales)

AUDITORS:

SB&P

Chartered Accountants & Statutory Auditors

Oriel House

2/8 Oriel Road

Bootle

Merseyside

L20 7EP

FIXED ASSETS

Tangible assets

4

565,429

201,893

Investments

5

-

1,029

Investment property

6

740,000

740,000

1,305,429

942,922

CURRENT ASSETS

Debtors

7

84,253

5,149

Cash at bank

3,725,665

3,960,167

3,809,918

3,965,316

CREDITORS

Amounts falling due within one year

8

111,928

77,143

NET CURRENT ASSETS

3,697,990

3,888,173

TOTAL ASSETS LESS CURRENT LIABILITIES

5,003,419

4,831,095

PROVISIONS FOR LIABILITIES

276,692

179,690

NET ASSETS

4,726,727

4,651,405

CAPITAL AND RESERVES

Called up share capital

9

2

2

Revaluation reserve

10

529,570

529,570

Retained earnings

4,197,155

4,121,833

SHAREHOLDERS' FUNDS

4,726,727

4,651,405

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 23 December 2025 and were signed on its behalf by:

Mrs J H Marshall - Director

1.	STATUTORY INFORMATION

Morbridge International Limited 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.

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 net of VAT and trade discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost of each asset, less its expected residual value, over its estimated useful life.

Plant and machinery

-

6.25% on cost (10% residual value)

Fixtures and fittings

-

15% on cost

Computer equipment

-

20% on cost

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value of £740,000 are as follows:

Confirmation of fair value from directors and review of market information.

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 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.

Foreign currencies

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Lessor operating leases

The net book value of assets held for use in operating leases is £565,429 (2024: £201,893). Depreciation charged in the year amounted to £68,016 (2024:£60,697).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

1,031,321

5,401

7,233

1,043,955

Additions

457,154

-

-

457,154

Disposals

(124,966

)

-

-

(124,966

)

At 31 March 2025

1,363,509

5,401

7,233

1,376,143

DEPRECIATION

At 1 April 2024

829,428

5,401

7,233

842,062

Charge for year

68,016

-

-

68,016

Eliminated on disposal

(99,364

)

-

-

(99,364

)

At 31 March 2025

798,080

5,401

7,233

810,714

NET BOOK VALUE

At 31 March 2025

565,429

-

-

565,429

At 31 March 2024

201,893

-

-

201,893

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

1,029

Disposals

(1,029

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

1,029

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

740,000

NET BOOK VALUE

At 31 March 2025

740,000

At 31 March 2024

740,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2012

327,203

Valuation in 2014

300,000

Valuation in 2022

40,000

Cost

72,797

740,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

72,797

72,797

Investment property was valued on an open market basis on 31 March 2022 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

5,167

4,172

Other debtors

79,086

977

84,253

5,149

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

3,774

5,171

Amounts owed to group undertakings

99,581

26,493

Taxation and social security

143

38,681

Other creditors

8,430

6,798

111,928

77,143

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

529,570

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Wendy McNulty BA FCA (Senior Statutory Auditor)

for and on behalf of SB&P