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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Merevalley Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Waen, Llangynog, Oswestry, Powy, SY10 0HA.

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors continue to adopt the going concern basis of accounting in preparing the financial statements on the basis that they are dependent on the support of the company's Directors and creditors.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The company's properties are included in the Balance Sheet at their open market values. They are revalued annually on the basis of open market value by the directors of the company and the directors do not believe the open market value to be materially different from the cost of the properties.

Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand and and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The tax expense represents the sum of the tax currently payable and deferred tax.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Trade and other receivables

Trade and other receivables are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment.

Trade and other payables

Trade and other payables are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measure at amortised cost using the effective interest method.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The company's investment property is measured at fair value. The directors' perform a review of the market value at each balance sheet date.

The average monthly number of persons (including directors) employed by the company during the year was:

The investment properties were valued on an open market basis at 31 December 2025 by a director.

Bank loans relate to mortgages which are secured by legal charges over the properties concerned and by fixed and floating charges over the assets of the company.

In respect of the 6.5% cumulative preference shares, dividends amounting to £253,411 (2024: £240,411) have been accumulating to the balance sheet date that will only become payable at such time as the company has sufficient reserves.

As at the balance sheet date, the company owed £192,599 (2024: £654,611) to the directors, who are also shareholders. The loans are interest free and have no fixed date of repayment.