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Registration number: 00563299

M A Tory Limited

Annual Report and Unaudited Financial Statements Year Ended 31 March 2023

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Chartered Accountants

 

M A Tory Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

M A Tory Limited

Company Information

Directors

Mr Richard Alexander Roe

Mr Clive Newton Tory

Miss Grace Alexandra Tory

Company secretary

Mr Clive Newton Tory

Registered office

34 High East Street
Dorchester
DT1 1HA

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
M A Tory Limitedfor the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of M A Tory Limited for the year ended 31 March 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of M A Tory Limited, as a body, in accordance with the terms of our engagement letter dated 27 February 2012. Our work has been undertaken solely to prepare for your approval the accounts of M A Tory Limited and state those matters that we have agreed to state to the Board of Directors of M A Tory Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M A Tory Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that M A Tory Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of M A Tory Limited. You consider that M A Tory Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of M A Tory Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

23 November 2023

 

M A Tory Limited

(Registration number: 00563299)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

           

Current assets

   

 

Stocks

5

 

66,907

 

88,967

Debtors

6

 

372,965

 

249,504

Investments

7

 

240

 

240

Cash at bank and in hand

   

84,396

 

105,633

   

524,508

 

444,344

Creditors: Amounts falling due within one year

8

 

(23,209)

 

(7,019)

Total assets less current liabilities

   

501,299

 

437,325

Provisions for liabilities

 

(20,052)

 

(20,052)

Net assets

   

481,247

 

417,273

Capital and reserves

   

 

Called up share capital

9

10,000

 

10,000

 

Profit and loss account

471,247

 

407,273

 

Shareholders' funds

   

481,247

 

417,273

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 



Mr Clive Newton Tory
Company secretary and director

 

M A Tory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
34 High East Street
Dorchester
DT1 1HA
England

These financial statements were authorised for issue by the Board on 22 November 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

M A Tory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

Asset class

Depreciation method and rate

Tenants improvements

10% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

 

M A Tory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Tangible assets

Tenants improvements
£

Total
£

Cost or valuation

At 1 April 2022

76,031

76,031

At 31 March 2023

76,031

76,031

Depreciation

At 1 April 2022

76,031

76,031

At 31 March 2023

76,031

76,031

Carrying amount

At 31 March 2023

-

-

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

66,907

88,967

6

Debtors

Current

2023
£

2022
£

Trade debtors

6,223

4,306

Other debtors

366,742

245,198

 

372,965

249,504

7

Current asset investments

2023
£

2022
£

Other investments

240

240

 

M A Tory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

 

Trade creditors

 

2,259

3,649

Taxation and social security

 

5,717

2,370

Other creditors

 

15,233

1,000

 

23,209

7,019

 

M A Tory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

         

10

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr Clive Newton Tory

Private expenditure

9,157

16,649

(9,157)

16,649

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Mr Clive Newton Tory

Private expenditure

7,683

9,157

(7,683)

9,157

         
       

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

5,148

9,504

Summary of transactions with other related parties

Lower Almer Farm Ltd
(common control)

 All transactions between the parties relate to Farming activities and are carried out at market prices. At the balance sheet date the amount owing from Lower Almer Farm Ltd was £315,625 (2021 - £202,166).