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REGISTERED NUMBER: SC423933 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

MORROW SKIP HIRE LTD

MORROW SKIP HIRE LTD (REGISTERED NUMBER: SC423933)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORROW SKIP HIRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2022







DIRECTORS: N Morrow
Mrs C Morrow





REGISTERED OFFICE: Brunthill Farm
New Deer
Turriff
Aberdeenshire
AB53 6UX





REGISTERED NUMBER: SC423933 (Scotland)

MORROW SKIP HIRE LTD (REGISTERED NUMBER: SC423933)

BALANCE SHEET
31 OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 552,462 598,050

CURRENT ASSETS
Stocks 50,000 68,500
Debtors 6 686,184 590,803
Cash at bank 201,625 230,750
937,809 890,053
CREDITORS
Amounts falling due within one year 7 329,388 359,084
NET CURRENT ASSETS 608,421 530,969
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,160,883

1,129,019

CREDITORS
Amounts falling due after more than one
year

8

(43,912

)

(101,822

)

PROVISIONS FOR LIABILITIES (138,116 ) (113,630 )
NET ASSETS 978,855 913,567

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 978,853 913,565
SHAREHOLDERS' FUNDS 978,855 913,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MORROW SKIP HIRE LTD (REGISTERED NUMBER: SC423933)

BALANCE SHEET - continued
31 OCTOBER 2022


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 Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:





N Morrow - Director


MORROW SKIP HIRE LTD (REGISTERED NUMBER: SC423933)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

1. STATUTORY INFORMATION

Morrow Skip Hire Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
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 directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% 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 balance sheet date.


MORROW SKIP HIRE LTD (REGISTERED NUMBER: SC423933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022

3. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2021 - 14 ) .

MORROW SKIP HIRE LTD (REGISTERED NUMBER: SC423933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2021 1,268,204
Additions 124,321
Disposals (21,234 )
At 31 October 2022 1,371,291
DEPRECIATION
At 1 November 2021 670,154
Charge for year 157,633
Eliminated on disposal (8,958 )
At 31 October 2022 818,829
NET BOOK VALUE
At 31 October 2022 552,462
At 31 October 2021 598,050

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2021 297,923
Transfer to ownership (87,298 )
At 31 October 2022 210,625
DEPRECIATION
At 1 November 2021 75,236
Charge for year 43,396
Transfer to ownership (38,193 )
At 31 October 2022 80,439
NET BOOK VALUE
At 31 October 2022 130,186
At 31 October 2021 222,687

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 564,231 489,736
Other debtors 121,953 101,067
686,184 590,803

MORROW SKIP HIRE LTD (REGISTERED NUMBER: SC423933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 47,889 76,767
Trade creditors 142,575 137,830
Taxation and social security 58,723 93,900
Other creditors 70,201 40,587
329,388 359,084

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 26,745 36,766
Hire purchase contracts 17,167 65,056
43,912 101,822

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 65,056 141,823

Hire purchase liabilities are secured against the related fixed assets.

10. PENSION COMMITMENTS

Included within Other creditors are outstanding pension contributions of £635 (2021 - £643).

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, N Morrow and C Morrow.