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REGISTERED NUMBER: 02476134 (England and Wales)

























Financial Statements

for the Year Ended 28 February 2018

for

Morcon Foundations Limited

Morcon Foundations Limited (Registered number: 02476134)






Contents of the Financial Statements
for the Year Ended 28 February 2018




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


Morcon Foundations Limited

Company Information
for the Year Ended 28 February 2018







DIRECTORS: P S Morley
Mrs P Morley
D Bryan



SECRETARY: Miss C A Westcott



REGISTERED OFFICE: Unit 2
Duffield Road Industrial Estate
Little Eaton
Derbyshire
DE21 5DR



REGISTERED NUMBER: 02476134 (England and Wales)



AUDITORS: HSKS Greenhalgh
Chartered Accountants &
Statutory Auditor
3rd Floor
Butt Dyke House
33 Park Row
Nottingham
NG1 6EE



BANKERS: The Royal Bank of Scotland
Derby Commercial Business Centre
Crompton House
Derwent Street
Derby
DE1 2XR

Morcon Foundations Limited (Registered number: 02476134)

Abridged Statement of Financial Position
28 February 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 443,971 460,121

CURRENT ASSETS
Stocks 44,738 105,413
Debtors 289,096 369,490
Cash at bank and in hand 801,991 492,316
1,135,825 967,219
CREDITORS
Amounts falling due within one year 236,088 267,766
NET CURRENT ASSETS 899,737 699,453
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,343,708

1,159,574

PROVISIONS FOR LIABILITIES 17,036 37,732
NET ASSETS 1,326,672 1,121,842

CAPITAL AND RESERVES
Called up share capital 5 75,000 75,000
Revaluation reserve 6 288,000 312,000
Retained earnings 6 963,672 734,842
SHAREHOLDERS' FUNDS 1,326,672 1,121,842

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 28 February 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 9 August 2018 and were signed on its
behalf by:




P S Morley - Director D Bryan - Director




Mrs P Morley - Director


Morcon Foundations Limited (Registered number: 02476134)

Notes to the Financial Statements
for the Year Ended 28 February 2018

1. STATUTORY INFORMATION

Morcon Foundations 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 represents the value of work done, excluding value added tax, and property sales. Turnover
in respect of property sales is recognised in full in the year in which the property is sold.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on valuation
Improvements to property - 5% on cost
Plant & equipment - 20% on reducing balance
Fixtures & fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

Morcon Foundations Limited (Registered number: 02476134)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

2. ACCOUNTING POLICIES - continued

Long-term contracts
Turnover and related costs on each long term contract are recorded in the profit and loss account as
contract activity progresses. Turnover is calculated on the basis of the value of work done and when a
profitable outcome to the contract can be assessed with reasonable certainty, includes attributable
profit. Attributable profit is calculated on a prudent basis for each contract by reference to the contracts
cumulative turnover, total contract value and total profit estimated for the completed contract. Full
provision is made for losses on a contract immediately they can be forseen.

"Amounts recoverable on long term contracts" represents the excess of cumulative turnover over
cumulative payments received on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2017 - 20 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 March 2017 750,042
Additions 90,185
Disposals (92,921 )
At 28 February 2018 747,306
DEPRECIATION
At 1 March 2017 289,921
Charge for year 60,378
Eliminated on disposal (46,964 )
At 28 February 2018 303,335
NET BOOK VALUE
At 28 February 2018 443,971
At 28 February 2017 460,121

Included in cost or valuation of land and buildings is freehold land of £ 10,940 (2017 - £ 10,940 ) which
is not depreciated.

Cost or valuation at 28 February 2018 is represented by:

Totals
£   
Valuation in 1994 32,640
Valuation in 1999 (15,000 )
Valuation in 2005 20,000
Valuation in 2010 130,000
Valuation in 2013 35,000
Valuation in 2015 30,000
Cost 514,666
747,306

Morcon Foundations Limited (Registered number: 02476134)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

4. TANGIBLE FIXED ASSETS - continued

If the freehold property had not been revalued it would have been included at the following historical
cost:

2018 2017
£    £   
Cost 127,360 127,360
Aggregate depreciation 127,360 127,360

Freehold property was valued on an open market basis on 28 February 2015 by Wilkinson & Fisher, Chartered Surveyors
.

5. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
67,500 Ordinary £1 67,500 75,000
(2017 - 75,000 )
7,500 A Ordinary £1 7,500 -
75,000 75,000

6. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2017 734,842 312,000 1,046,842
Profit for the year 240,673 240,673
Dividends (35,843 ) (35,843 )
Depreciation transfer on
revalued amount

24,000

(24,000

)

-

At 28 February 2018 963,672 288,000 1,251,672

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Handley FCA (Senior Statutory Auditor)
for and on behalf of HSKS Greenhalgh

Morcon Foundations Limited (Registered number: 02476134)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2018
and 28 February 2017:

2018 2017
£    £   
P S Morley
Balance outstanding at start of year 19,933 6,733
Amounts advanced 666 20,000
Amounts repaid (19,933 ) (6,800 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 666 19,933

D Bryan
Balance outstanding at start of year - -
Amounts advanced 30,150 -
Amounts repaid (20,843 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,307 -

The company has charged interest on debit balances arising on a director loan at a rate of 2.5% per
annum.

9. CONTROLLING PARTY

The company is controlled by P S Morley by virtue of his majority shareholding.