1 November 2024 false No description of principal activity Taxfiler 2024.6 11613160 business:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 11613160 2024-10-31 11613160 2024-11-01 2025-10-31 11613160 business:AuditExempt-NoAccountantsReport 2024-11-01 2025-10-31 11613160 business:FilletedAccounts 2024-11-01 2025-10-31 11613160 2025-10-31 11613160 business:Director1 2024-11-01 2025-10-31 11613160 business:Director2 2024-11-01 2025-10-31 11613160 2024-10-31 11613160 core:WithinOneYear 2025-10-31 11613160 core:WithinOneYear 2024-10-31 11613160 core:ShareCapital core:PreviouslyStatedAmount 2025-10-31 11613160 core:ShareCapital core:PreviouslyStatedAmount 2024-10-31 11613160 core:InvestmentPropertiesRevaluationReserve core:PreviouslyStatedAmount 2025-10-31 11613160 core:InvestmentPropertiesRevaluationReserve core:PreviouslyStatedAmount 2024-10-31 11613160 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2025-10-31 11613160 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2024-10-31 11613160 core:PreviouslyStatedAmount 2025-10-31 11613160 core:PreviouslyStatedAmount 2024-10-31 11613160 business:SmallEntities 2024-11-01 2025-10-31 11613160 countries:EnglandWales 2024-11-01 2025-10-31 11613160 core:PlantMachinery 2024-11-01 2025-10-31 11613160 core:PlantMachinery 2024-10-31 11613160 core:PlantMachinery 2025-10-31 11613160 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure
Company Registration No. 11613160 (England and Wales)
Morganlets Ltd Unaudited accounts for the year ended 31 October 2025
Morganlets Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Morganlets Ltd Company Information for the year ended 31 October 2025
Directors
S Morgan Mrs S Morgan
Company Number
11613160 (England and Wales)
Accountants
Vertical Consulting Ltd 18 Wellington Park Clifton Bristol Bristol BS8 2UT
- 3 -
Morganlets Ltd Statement of financial position as at 31 October 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
2,228
2,971
Investment property
5
545,000
545,000
547,228
547,971
Current assets
Debtors
6
-
3,115
Cash at bank and in hand
2,617
8,395
2,617
11,510
Creditors: amounts falling due within one year
7
(456,454)
(477,889)
Net current liabilities
(453,837)
(466,379)
Total assets less current liabilities
93,391
81,592
Provisions for liabilities
Deferred tax
(5,000)
(5,000)
Net assets
88,391
76,592
Capital and reserves
Called up share capital
20
20
Fair value reserve
15,000
15,000
Profit and loss account
73,371
61,572
Shareholders' funds
88,391
76,592
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2026 and were signed on its behalf by
S Morgan Director Company Registration No. 11613160
- 4 -
Morganlets Ltd Notes to the Accounts for the year ended 31 October 2025
1
Statutory information
Morganlets Ltd is a private company, limited by shares, registered in England and Wales, registration number 11613160.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes in respect of its sole activity of Investment Property Rental.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on the reducing balance basis
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
- 5 -
Morganlets Ltd Notes to the Accounts for the year ended 31 October 2025
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 November 2024
6,042
At 31 October 2025
6,042
Depreciation
At 1 November 2024
3,071
Charge for the year
743
At 31 October 2025
3,814
Net book value
At 31 October 2025
2,228
At 31 October 2024
2,971
5
Investment property
2025
£
Fair value at 1 November 2024
545,000
At 31 October 2025
545,000
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Other debtors
-
3,115
7
Creditors: amounts falling due within one year
2025
2024
£
£
Taxes and social security
3,345
3,313
Other creditors
-
3,115
Loans from directors
451,609
471,461
Accruals
1,500
-
456,454
477,889
8
Average number of employees
During the year the average number of employees was 2 (2024: 2).
- 6 -