ACCOUNTS - Final Accounts

Registered number: 05293885

MOREL INVESTMENT MANAGEMENT LIMITED

(Formerly known as The School Travel Group Limited)

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2025

MOREL INVESTMENT MANAGEMENT LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MOREL INVESTMENT MANAGEMENT LIMITED
FOR THE YEAR ENDED 31 OCTOBER 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morel Investment Management Limited for the year ended 31 October 2025 which comprise the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Morel Investment Management Limited in accordance with the terms of our engagement letter dated 12 August 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Morel Investment Management Limited and state those matters that we have agreed to state to the director of Morel Investment Management Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morel Investment Management Limited and its director for our work or for this report.

It is your duty to ensure that Morel Investment Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Morel Investment Management Limited. You consider that Morel Investment Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Morel Investment Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

White Hart Associates (London) Limited

Chartered Accountants and Statutory Auditors

2nd Floor, Nucleus House

2 Lower Mortlake Road

Richmond

TW9 2JA

27 February 2026

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MOREL INVESTMENT MANAGEMENT LIMITED

REGISTERED NUMBER: 05293885

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2025

		2025		2024
Note		£000		£000


Current assets
Debtors: amounts falling due within one year	3	1		1
		1		1
Total assets less current liabilities			1		1

Net assets			1		1

Capital and reserves
Called up share capital	8	8
Share premium account	105	105
Profit and loss account	(112)	(112)
	1	1

For the year ended 31 October 2025 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 February 2026.

................................................

N Goodwin

Director

The notes on page 4 form part of these financial statements.

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MOREL INVESTMENT MANAGEMENT LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 OCTOBER 2025

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£000	£000	£000	£000
At 1 November 2023	8	105	(112)	1
Comprehensive income for the year
Profit for the year	-	-	-	-
Total comprehensive income for the year	-	-	-	-

At 1 November 2024	8	105	(112)	1
Comprehensive income for the year
Profit for the year	-	-	-	-
Total comprehensive income for the year	-	-	-	-
At 31 October 2025	8	105	(112)	1

The notes on page 4 form part of these financial statements.

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MOREL INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1.	General information

The School Travel Group Limited is a private company limited by shares and incorporated in England. Its registered office and principal place of business is 3rd Floor, 100-101 Queens Road, Brighton, BN1 3XF.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

2.2

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Debtors

					2025	2024
					£000	£000


Amounts owed by group undertakings	1	1

4.	Parent company and ultimate controlling party

The Company's immediate holding company is Equity Inspiring Learning Limited, a company registered in England and Wales. Copies of the financial statements of Equity Inspiring Learning Limited can be obtained from 3rd Floor, 100-101 Queens Road, Brighton, BN1 3XF.

The Company's ultimate parent is Taumarunui Investment LLP, a limited liability partnership registered in England and Wales. Copies of the financial statements of Taumarunui Investments LLP can be obtained from Create Business Hub, Ground Floor, 5 Rayleigh Road, Hutton, Brentwood, Essex CM13 1AB.

The ultimate controlling party is Mr Bryan Frank Green, by virtue of his controlling interest in the ultimate parent undertaking, Taumarunui Investment LLP.

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