Morgan Sweet Ltd 04674307 false 2025-01-01 2025-12-31 2025-12-31 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true 04674307 2025-01-01 2025-12-31 04674307 2025-12-31 04674307 core:CurrentFinancialInstruments 2025-12-31 04674307 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 04674307 core:FurnitureFittingsToolsEquipment 2025-12-31 04674307 core:OtherPropertyPlantEquipment 2025-12-31 04674307 bus:SmallEntities 2025-01-01 2025-12-31 04674307 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 04674307 bus:FilletedAccounts 2025-01-01 2025-12-31 04674307 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 04674307 bus:RegisteredOffice 2025-01-01 2025-12-31 04674307 bus:Director1 2025-01-01 2025-12-31 04674307 bus:Director2 2025-01-01 2025-12-31 04674307 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 04674307 bus:Agent1 2025-01-01 2025-12-31 04674307 core:FurnitureFittings 2025-01-01 2025-12-31 04674307 core:FurnitureFittingsToolsEquipment 2025-01-01 2025-12-31 04674307 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 04674307 core:PlantMachinery 2025-01-01 2025-12-31 04674307 countries:UnitedKingdom 2025-01-01 2025-12-31 04674307 2024-12-31 04674307 core:FurnitureFittingsToolsEquipment 2024-12-31 04674307 core:OtherPropertyPlantEquipment 2024-12-31 04674307 2024-01-01 2024-12-31 04674307 2024-12-31 04674307 core:CurrentFinancialInstruments 2024-12-31 04674307 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04674307 core:FurnitureFittingsToolsEquipment 2024-12-31 04674307 core:OtherPropertyPlantEquipment 2024-12-31 iso4217:GBP xbrli:pure

Registration number: 04674307

Morgan Sweet Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2025

Morgan Sweet Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 8

Morgan Sweet Ltd

Company Information

Directors | Mr A P Rowswell Mrs F V Rowswell

Registered office | 1 Cornhill Ilminster Somerset TA19 0AD

Accountants | Mitchams Chartered Accountants 1 Cornhill Ilminster Somerset TA19 0AD

Morgan Sweet Ltd

(Registration number: 04674307)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 13,660 | 15,867
Investment property | 5 | 1,025,000 | 1,025,000
|  | 1,038,660 | 1,040,867
Current assets |  |  |
Debtors | 6 | 487 | -
Cash at bank and in hand |  | 1,745 | 1,228
|  | 2,232 | 1,228
Creditors: Amounts falling due within one year | 7 | (363,572) | (393,432)
Net current liabilities |  | (361,340) | (392,204)
Total assets less current liabilities |  | 677,320 | 648,663
Provisions for liabilities |  | (76,014) | (72,888)
Net assets |  | 601,306 | 575,775
Capital and reserves |  |  |
Called up share capital |  | 1,000 | 1,000
Other reserves |  | 236,426 | 236,426
Retained earnings |  | 363,880 | 338,349
Shareholders' funds |  | 601,306 | 575,775

Morgan Sweet Ltd

(Registration number: 04674307)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 April 2026 and signed on its behalf by:

......................................... Mr A P Rowswell Director
......................................... Mrs F V Rowswell Director

Morgan Sweet Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
1 Cornhill
Ilminster
Somerset
TA19 0AD

These financial statements were authorised for issue by the Board on 14 April 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Morgan Sweet Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant & machinery | Reducing balance - 25%
Furniture, fittings and equipment | Reducing balance - 25%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Morgan Sweet Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Morgan Sweet Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Other tangible assets £ | Total £
Cost or valuation
At 1 January 2025 | 30,139 | 1,723 | 31,862
Additions | 2,346 | - | 2,346
At 31 December 2025 | 32,485 | 1,723 | 34,208
Depreciation
At 1 January 2025 | 14,272 | 1,723 | 15,995
Charge for the year | 4,553 | - | 4,553
At 31 December 2025 | 18,825 | 1,723 | 20,548
Carrying amount
At 31 December 2025 | 13,660 | - | 13,660
At 31 December 2024 | 15,867 | - | 15,867

5 | Investment properties

| 2025 £
At 1 January | 1,025,000
At 31 December | 1,025,000

The investment properties class of fixed assets was valued at £1,025,000 by the directors. The basis of this valuation was current market value.

There has been no valuation of investment property by an independent valuer.

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 487 | -
| 487 | -

Morgan Sweet Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 1,342 | 1,342
Taxation and social security | 3,789 | -
Other creditors | 358,441 | 392,090
| 363,572 | 393,432