REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2023 |
for |
Stephen Morris (Investments) Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2023 |
for |
Stephen Morris (Investments) Ltd |
Stephen Morris (Investments) Ltd (Registered number: 06816919) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Stephen Morris (Investments) Ltd |
Company Information |
for the Year Ended 28 February 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
11A Empire Parade |
Empire Way |
Wembley |
Middlesex |
HA9 0RQ |
Stephen Morris (Investments) Ltd (Registered number: 06816919) |
Balance Sheet |
28 February 2023 |
28.2.23 | 28.2.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
Stephen Morris (Investments) Ltd (Registered number: 06816919) |
Balance Sheet - continued |
28 February 2023 |
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 |
Stephen Morris (Investments) Ltd (Registered number: 06816919) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
Stephen Morris (Investments) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Stephen Morris (Investments) Ltd (Registered number: 06816919) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2022 |
Disposals | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
Fair value at 28 February 2023 is represented by: |
£ |
Valuation in 2019 | 9,191 |
Valuation in 2017 | 600,000 |
Valuation in 2013 | 115,000 |
Valuation in 2021 | 490,000 |
Valuation in 2023 | 1,791,029 |
3,005,220 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 1,211,408 | 2,055,000 |
Stephen Morris (Investments) Ltd (Registered number: 06816919) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.23 | 28.2.22 |
value: | £ | £ |
Ordinary share | 1 | 2 | 2 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 March 2022 |
Profit for the year |
Dividends | ( |
) |
At 28 February 2023 |
10. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owed £5,654 (2022: £2,131) to the directors. The balance is interest free and repayable on demand. |
At the balance sheet date, the company was owed £2 by Stephen Morris Holdings Limited, the parent company. |
At the balance sheet date, the company owed £ 394,867 (2022: £378,957) to Stephen Alexander Morris Limited Limited, a fellow subsidiary company of Stephen Morris Holdings Limited. On 15 September 2009 the company purchased its investment properties at a market value of £3,400,000.00; in addition, on 20 November 2013 the company purchased its investment properties at a market value of £200,000.00 and on 28 January 2016 the company purchased its investment properties at a market value of £2,320,000.00 from Stephen Alexander Morris Limited, a fellow subsidiary company of Stephen Morris Holdings Limited. |
11. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Stephen Morris Holdings Limited, a company incorporated in England and Wales. Stephen Morris Holdings Limited is controlled by Mrs L Morris and Mr S A Morris, directors of the company. |