Mornington Property Investment Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 13276156 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Mornington Property Investment Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

X L Bates

REGISTERED OFFICE:

C/O City, Chartered Accountants

Suite 540 5th Floor, Linen Hall

162-168 Regent Street

London

W1B 5TF

REGISTERED NUMBER:

13276156 (England and Wales)

ACCOUNTANTS:

City, Chartered Accountants

Suite 540, 5th Floor,

Linen Hall

162- 168 Regent Street

London

W1B 5TF

FIXED ASSETS

Investment property

4

3,375,086

4,890,480

CURRENT ASSETS

Debtors

5

-

2,000

Cash at bank

32,339

15,834

32,339

17,834

CREDITORS

Amounts falling due within one year

6

(492,942

)

(2,088,353

)

NET CURRENT LIABILITIES

(460,603

)

(2,070,519

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,914,483

2,819,961

CREDITORS

Amounts falling due after more than one
year

7

(2,428,681

)

(2,428,731

)

PROVISIONS FOR LIABILITIES

(77,054

)

(58,561

)

NET ASSETS

408,748

332,669

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

8

308,218

Retained earnings

100,430

24,351

408,748

332,669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 October 2026 and were signed by:

X L Bates - Director

1.	STATUTORY INFORMATION

Mornington Property Investment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

4,890,480

Additions

9,278

Disposals

(1,524,672

)

At 31 March 2026

3,375,086

NET BOOK VALUE

At 31 March 2026

3,375,086

At 31 March 2025

4,890,480

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Other debtors

-

2,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Bank loans and overdrafts

56

-

Taxation and social security

28,995

3,011

Other creditors

463,891

2,085,342

492,942

2,088,353

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.3.26

31.3.25

£

Other creditors

2,428,681

2,428,731

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgage loan - 21 Mornington
Crescent

1,271,933

1,271,954

Mortgage loan - 9 & 9A Goldsboro
Road

1,106,748

1,106,777

2,378,681

2,378,731

8.

RESERVES

Revaluation

reserve

£

At 1 April 2025

and 31 March 2026

308,218

9.	RELATED PARTY DISCLOSURES

At the year end, the company owed the director £430,614 (2025: £2,037,692).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is X L Bates.

11.

CHARGES

On 2 April 2021, a deed of charge in favour of Xuelin Bates was created over the freehold property 21 Mornington Crescent, London NW1 7RG. At the year end, the loan was repaid.

On 12 April 2023, a deed of charge in favour of Onesavings Bank PLC was created over the freehold property situate and known as 21 Mornington Crescent, London, NW1 7RG. At the year end, the charge remained outstanding.

On 26 February 2024, a deed of charge in favour of Onesavings Bank PLC was created over all the freehold land situate and known as 9 and 9A Goldsboro Road, London, SW8 4RP. At the year end, the charge remained outstanding.