Company No: 10149125 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Investment property	3	925,000		925,000
Investments	4	1,288,934		1,288,934
		2,213,934		2,213,934
Current assets
Debtors	5	51		79,220
Cash at bank and in hand		3,896		52,137
		3,947		131,357
Creditors: amounts falling due within one year	6	( 1,691,384)		( 1,743,486)
Net current liabilities		(1,687,437)		(1,612,129)
Total assets less current liabilities		526,497		601,805
Provision for liabilities	7	( 108,787)		( 108,787)
Net assets		417,710		493,018
Capital and reserves
Called-up share capital		2		2
Fair value reserve		341,863		341,863
Profit and loss account		75,845		151,153
Total shareholder's funds		417,710		493,018

For the financial year ending 28 February 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Mortarbuy Limited (registered number: 10149125) were approved and authorised for issue by the Director on 30 April 2026. They were signed on its behalf by:

Dr P J Edwards Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mortarbuy 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.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Other operating income is recognised at the fair value of the consideration received or receivable for rent charged in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Other operating income is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
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 financial statements. 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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Fixed asset investments

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

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. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		2

3. Investment property

	Investment property
	£
Valuation
As at 01 March 2025	925,000
As at 28 February 2026	925,000

Valuation

The investment property was revalued on 18 October 2024 by independent valuers Eddisons Commercial Limited. The valuation was conducted at current open market value.
No further valuation has been undertaken during the current financial year. The directors consider that the carrying amount at the year end remains appropriate and that there have been no material changes in the property’s condition or the market that would require an updated valuation.
The deferred tax attributable to the investment property has been considered, and, due to indexation, £108,787 (2025 - £108,787) has been provided for in the financial statements.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2026		2025
	£		£
Historic cost	474,350		474,350

4. Fixed asset investments

Investments in subsidiaries

	2026
	£
Cost
At 01 March 2025	1,288,934
At 28 February 2026	1,288,934
Carrying value at 28 February 2026	1,288,934
Carrying value at 28 February 2025	1,288,934

At the balance sheet date the company had 2 wholly owned subsidiaries.

5. Debtors

	2026		2025
	£		£
Amounts owed by Group undertakings	0		62,294
Other debtors	51		16,926
	51		79,220

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Amounts owed to Group undertakings	1,687,543		1,739,837
Accruals	3,841		3,649
	1,691,384		1,743,486

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Provision for liabilities

	2026		2025
	£		£
Deferred tax	108,787		108,787

8. Financial commitments

Other financial commitments

	2026		2025
	£		£
Commitments in respect of parents and subsidiaries	2,917,301		2,988,383

The company, together with other group companies, is party to a cross guarantee against its parent's bank borrowing. The guarantee includes a fixed and floating charge over all assets and undertakings of the company and its subsidiaries. There is also a personal guarantee by the Director, limited to £250,000.

9. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemptions provided from disclosing transactions with its wholly owned subsidiaries.

10. Ultimate controlling party

The company's immediate parent is Mortarsell Limited, incorporated in England and Wales. Its registered office address is Albert Goodman, Lupin Way, Yeovil, Somerset, United Kingdom, BA22 8WW.
These financial statements are available upon request from Companies House, Cardiff.