Company No: 16019443 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	28.02.2026		28.02.2025
		£		£
Fixed assets
Investments	3	1,058,618		1,058,618
		1,058,618		1,058,618
Current assets
Debtors	4	1,335,562		1,618,037
Cash at bank and in hand		1,065,322		238,744
		2,400,884		1,856,781
Creditors: amounts falling due within one year	5	( 115,922)		( 86,581)
Net current assets		2,284,962		1,770,200
Total assets less current liabilities		3,343,580		2,828,818
Creditors: amounts falling due after more than one year	6	( 2,828,098)		( 2,915,050)
Net assets/(liabilities)		515,482		( 86,232)
Capital and reserves
Called-up share capital		10		10
Profit and loss account		515,472		( 86,242 )
Total shareholder's funds/(deficit)		515,482		( 86,232)

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 Mortarsell Limited (registered number: 16019443) 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 period, unless otherwise stated.

General information and basis of accounting

Mortarsell 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 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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).

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

	Year ended 28.02.2026		Period from 15.10.2024 to 28.02.2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Fixed asset investments

Investments in subsidiaries

	28.02.2026
	£
Cost
At 01 March 2025	1,058,618
At 28 February 2026	1,058,618
Carrying value at 28 February 2026	1,058,618
Carrying value at 28 February 2025	1,058,618

At the balance sheet date the company had 1 wholly owned subsidiary.

4. Debtors

	28.02.2026		28.02.2025
	£		£
Amounts owed by Group undertakings	1,331,362		1,613,837
Other debtors	4,200		4,200
	1,335,562		1,618,037

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

5. Creditors: amounts falling due within one year

	28.02.2026		28.02.2025
	£		£
Bank loans (secured)	89,203		73,333
Amounts owed to director	20,000		0
Accruals	6,719		13,248
	115,922		86,581

6. Creditors: amounts falling due after more than one year

	28.02.2026		28.02.2025
	£		£
Bank loans (secured)	2,828,098		2,915,050

The total amount of bank borrowings are secured by a fixed and floating charge over the properties, all the assets and undertakings of the company and its subsidiaries. There is also a personal guarantee by the Director, limited to £250,000.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	28.02.2026		28.02.2025
	£		£
Bank loans (secured / repayable by instalments)	2,471,288		2,560,193

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

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