Morel Investments Limited - Period Ending 2023-02-28

Morel Investments Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Morel Investments Limited

Company Information

Director

Mr Alan Patrick Walsh

Registered office

1 Crab Apple Way Vale Park Evesham Worcestershire WR11 1GY

Accountants

Jacobs Allen Limited Chartered Accountants and Chartered Tax Advisers 59 Abbeygate Street Bury St. Edmunds Suffolk IP33 1LB

Morel Investments Limited

(Registration number: 13233717)
Balance Sheet as at 28 February 2023

	Note	2023 £	2022 £
Current assets
Debtors	4	55,000	55,000
Cash at bank and in hand		74,822	98,725
		129,822	153,725
Creditors: Amounts falling due within one year	5	(32,029)	(55,720)
Net assets		97,793	98,005
Capital and reserves
Called up share capital	6	100,000	100,000
Retained earnings		(2,207)	(1,995)
Shareholders' funds		97,793	98,005

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2023
 

......................................... Mr Alan Patrick Walsh Director

Morel Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Crab Apple Way
Vale Park
Evesham
Worcestershire
WR11 1GY
United Kingdom

These financial statements were authorised for issue by the director on 25 September 2023.

2	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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

Morel Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

Current	2023 £	2022 £
Other debtors	55,000	55,000

5

Creditors

Creditors: amounts falling due within one year

	Note	2023 £	2022 £
Due within one year
Loans and borrowings	7	31,549	55,000
Accruals and deferred income		480	720
		32,029	55,720

6	Share capital

Allotted, called up and fully paid shares

	2023		2022
	No.	£	No.	£
B ordinary shares of £1 each	15,000	15,000	15,000	15,000
C ordinary shares of £1 each	15,000	15,000	15,000	15,000
D ordinary shares of £1 each	15,000	15,000	15,000	15,000
	45,000	45,000	45,000	45,000

Allotted, called up and not fully paid shares

Morel Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

	2023		2022
	No.	£	No.	£
A ordinary shares of £1 each	5,000	5,000	5,000	5,000
Redeemable preference shares of £1 each	50,000	50,000	50,000	50,000
	55,000	55,000	55,000	55,000

7	Loans and borrowings

	2023 £	2022 £
Current loans and borrowings
Other borrowings	31,549	55,000

8	Related party transactions

Transactions with the director

2023	At 1 March 2022 £	Advances to director £	Repayments by director £	At 28 February 2023 £
Mr Alan Patrick Walsh
Loan to director, repayable on demand and interest charged at 2%	-	43,448	(43,448)	-

Other transactions with the director

Mr Walsh, a director and shareholder of the company, provided an interest free loan to the company during the year, which was repayable on demand. At the year end the balance was £31,549 (2021 - £55,000).