Registration number:
Morley Capital LTD
for the Year Ended 30 June 2026
Morley Capital LTD
Contents
|
Company Information |
|
|
Director's Report |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Morley Capital LTD
Company Information
|
Director |
Mr Dean Morley |
|
Registered office |
|
|
Accountants |
|
Morley Capital LTD
Director's Report for the Year Ended 30 June 2026
The director presents his report and the financial statements for the year ended 30 June 2026.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is The principal activity of the company during the year continued to be short-term business lending to small and medium-sized enterprises across the United Kingdom.
Business Review
The financial year ended 30 June 2026 represented another year of significant progress for the company. The business continues to expand its lending portfolio, whilst materially strengthening its balance sheet through retained profit, increasing capital reserves and reducing reliance on wholesale funding
During the year, the shareholders commenced their wider international expansion strategy through the establishment of Morley Capital APAC Limited, a separately operated sister company under common ownership. Morley Capital APAC Limited successfully launched lending operations in Australia during the year, and preparations are well advanced for the launch of New Zealand operations during the fourth quarter of 2026. Whilst these activities fall outside the scope of these financial statements, they represent an important strategic milestone in the wider development of the Morley Capital brand.
The company also continued investing in proprietary technology, artificial intelligence, workflow automation, legal recoveries, collections capability and operational infrastructure to improve scalability whilst maintaining disciplined underwriting standards.
Financial Position
The company continued to strengthen its financial position throughout the year.
Total assets more than doubled during the financial year, increasing from approximately £5.5 million to £12.8 million. Shareholders' funds increased from approximately £1.1 million to £3.8 million.
Deferred income increased to approximately £5.2 million, representing contractual lending income relating to loans already originated but recognised over their contractual term in accordance with the company's revenue recognition policy. Whilst presented as a liability for accounting purposes, this balance provides visibility over future earnings embedded within the existing lending portfolio.
The directors also monitor an internal adjusted capital measure comprising shareholders' funds together with deferred income. On this basis, the company's adjusted capital position increased from approximately £3.7 million to £9.1 million, representing growth of approximately 145% during the financial year.
Capital Management
Maintaining a strong balance sheet remains a core strategic objective.
Wholesale funding continues to support portfolio growth; however, reliance on external funding reduced materially during the year. Wholesale funding represented approximately 17.9% of gross customer receivables at 30 June 2026 compared with 28.5% at the previous year end, demonstrating the company's increasing ability to support growth from retained earnings and internally generated capital.
Morley Capital LTD
Director's Report for the Year Ended 30 June 2026
Credit Risk and Provisioning
The company continues to operate a disciplined underwriting framework supported by credit bureau information, bank transaction analysis, fraud detection, director profiling and proprietary credit assessment models.
Impairment provisions increased during the year in line with the continued expansion of the lending portfolio and the company's expected credit loss methodology. The directors consider the level of provisioning at the reporting date to be appropriate and reflective of the risks associated with commercial lending.
Operational Development
Key operational developments during the year included:
• Continued investment in proprietary lending technology.
• Expansion of AI-assisted underwriting and operational automation.
• Enhancement of legal recoveries and collections capability.
• Strengthening of governance and operational controls.
• Continued investment in employee development and infrastructure.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
|
......................................... |
Morley Capital LTD
(Registration number: 14566089)
Balance Sheet as at 30 June 2026
|
Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
100,000 |
100,000 |
|
|
Retained earnings |
3,737,428 |
954,955 |
|
|
Shareholders' funds |
3,837,428 |
1,054,955 |
For the financial year ending 30 June 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
|
......................................... |
Morley Capital LTD
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
|
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.
Morley Capital LTD
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026
Adjusting events after the financial period
|
Future Outlook
|
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 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.
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:
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.
Morley Capital LTD
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026
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.
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
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.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Morley Capital LTD
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026
|
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Morley Capital LTD
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026
|
Tangible assets |
|
Furniture, fittings and equipment |
Other tangible assets |
Total |
|
|
Cost or valuation |
|||
|
At 1 July 2025 |
|
|
|
|
Additions |
|
|
|
|
At 30 June 2026 |
|
|
|
|
Depreciation |
|||
|
At 1 July 2025 |
|
|
|
|
Charge for the year |
|
|
|
|
At 30 June 2026 |
|
|
|
|
Carrying amount |
|||
|
At 30 June 2026 |
|
|
|
|
At 30 June 2025 |
|
|
|
|
Debtors |
|
Current |
Note |
2026 |
2025 |
|
Trade debtors |
|
|
|
|
Amounts owed by related parties |
|
|
|
|
Other debtors |
|
- |
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2026 |
2025 |
|
|
Due within one year |
|||
|
Loans and borrowings |
- |
|
|
|
Trade creditors |
|
|
|
|
Taxation and social security |
|
|
|
|
Deferred Income |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
Morley Capital LTD
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026
|
Note |
2026 |
2025 |
|
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100,000 |
|
100,000 |
|
Loans and borrowings |
Non-current loans and borrowings
|
2026 |
2025 |
|
|
Other borrowings |
|
|
Current loans and borrowings
|
2026 |
2025 |
|
|
Other borrowings |
- |
|
|
Dividends |
Interim dividends paid
|
2026 |
2025 |
|||
|
Interim dividend of £ |
|
|
||
|
Related party transactions |
Morley Capital LTD
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026
Director's remuneration
The director's remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|