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REGISTERED NUMBER: NI646021 (Northern Ireland)















MORROW LURGAN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2022 TO 4 MAY 2023






MORROW LURGAN LIMITED (REGISTERED NUMBER: NI646021)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2022 TO 4 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MORROW LURGAN LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 SEPTEMBER 2022 TO 4 MAY 2023







DIRECTORS: Trevor Magill
Andrew Keating
Noel Keeley





REGISTERED OFFICE: Belfast Harbour Estate
1/19 Dargan Drive
Belfast
Co. Antrim
BT3 9JG





REGISTERED NUMBER: NI646021 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

MORROW LURGAN LIMITED (REGISTERED NUMBER: NI646021)

STATEMENT OF FINANCIAL POSITION
4 MAY 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 68,254 68,254
Property, plant and equipment 6 114,786 127,613
183,040 195,867

CURRENT ASSETS
Inventories 7 159,827 150,819
Receivables 8 36,489 378,579
Cash at bank and in hand 34,246 528,013
230,562 1,057,411
PAYABLES
Amounts falling due within one year 9 (391,753 ) (599,843 )
NET CURRENT (LIABILITIES)/ASSETS (161,191 ) 457,568
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,849

653,435

PROVISIONS FOR LIABILITIES (20,747 ) (25,452 )
NET ASSETS 1,102 627,983

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 42,699 42,699
Retained earnings (41,697 ) 585,184
1,102 627,983

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 4 May 2023.

The members have not required the Company to obtain an audit of its financial statements for the period ended 4 May 2023 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 LURGAN LIMITED (REGISTERED NUMBER: NI646021)

STATEMENT OF FINANCIAL POSITION - continued
4 MAY 2023


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 1 February 2024 and were signed on its behalf by:





Trevor Magill - Director


MORROW LURGAN LIMITED (REGISTERED NUMBER: NI646021)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2022 TO 4 MAY 2023

1. STATUTORY INFORMATION

Morrow Lurgan Limited is a private company, limited by shares , registered in Northern Ireland. 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 preparation
The financial statements have been prepared under the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently throughout the year.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Property, plant and equipment
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Fixtures & Fittings15% Reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation
Taxation for the period 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 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 period end and that are expected to apply to the reversal of the timing difference.

MORROW LURGAN LIMITED (REGISTERED NUMBER: NI646021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2022 TO 4 MAY 2023

3. ACCOUNTING POLICIES - continued

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 39 (2022 - 45 ) .

5. INTANGIBLE FIXED ASSETS
Patents and
licences
£
COST
At 1 September 2022
and 4 May 2023 68,254
NET BOOK VALUE
At 4 May 2023 68,254
At 31 August 2022 68,254

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£
COST
At 1 September 2022
and 4 May 2023 239,589
DEPRECIATION
At 1 September 2022 111,976
Charge for period 12,827
At 4 May 2023 124,803
NET BOOK VALUE
At 4 May 2023 114,786
At 31 August 2022 127,613

7. INVENTORIES
2023 2022
£ £
Inventories 159,827 150,819

8. RECEIVABLES
2023 2022
£ £
Amounts owed by group undertakings - 329,509
Other receivables 36,489 49,070
36,489 378,579

MORROW LURGAN LIMITED (REGISTERED NUMBER: NI646021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2022 TO 4 MAY 2023

9. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade payables 281,614 313,352
Amounts owed to associates - 172,957
Taxation and social security 100,052 85,560
Other payables 10,087 27,974
391,753 599,843

10. RELATED PARTY TRANSACTIONS

The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies.