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REGISTERED NUMBER: NI645882 (Northern Ireland)















MORROW CULCAVEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2022 TO 4 MAY 2023






MORROW CULCAVEY LIMITED (REGISTERED NUMBER: NI645882)






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 CULCAVEY 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: NI645882 (Northern Ireland)





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

MORROW CULCAVEY LIMITED (REGISTERED NUMBER: NI645882)

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 44,930 58,347
113,184 126,601

CURRENT ASSETS
Inventories 7 86,441 70,498
Receivables 8 2,250 270,214
Cash at bank and in hand 40,516 347,498
129,207 688,210
PAYABLES
Amounts falling due within one year 9 (242,306 ) (244,122 )
NET CURRENT (LIABILITIES)/ASSETS (113,099 ) 444,088
TOTAL ASSETS LESS CURRENT
LIABILITIES

85

570,689

PROVISIONS FOR LIABILITIES - (13,893 )

GOVERNMENT GRANTS (10,868 ) -
NET (LIABILITIES)/ASSETS (10,783 ) 556,796

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 20,818 20,818
Retained earnings (31,701 ) 535,878
(10,783 ) 556,796

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 CULCAVEY LIMITED (REGISTERED NUMBER: NI645882)

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 CULCAVEY LIMITED (REGISTERED NUMBER: NI645882)

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

1. STATUTORY INFORMATION

Morrow Culcavey 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 & Fittings- 15% Reducing balance
Motor Vehicles- 25% 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
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

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 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 19 (2022 - 23 ) .

MORROW CULCAVEY LIMITED (REGISTERED NUMBER: NI645882)

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

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 Motor
fittings vehicles Totals
£ £ £
COST
At 1 September 2022 104,063 13,270 117,333
Disposals - (13,270 ) (13,270 )
At 4 May 2023 104,063 - 104,063
DEPRECIATION
At 1 September 2022 51,314 7,672 58,986
Charge for period 7,819 - 7,819
Eliminated on disposal - (7,672 ) (7,672 )
At 4 May 2023 59,133 - 59,133
NET BOOK VALUE
At 4 May 2023 44,930 - 44,930
At 31 August 2022 52,749 5,598 58,347

7. INVENTORIES
2023 2022
£ £
Inventories 86,441 70,498

8. RECEIVABLES
2023 2022
£ £
Trade receivables - 1,746
Amounts owed by group undertakings - 83,769
Amounts owed by associates - 172,957
Other receivables 2,250 11,742
2,250 270,214

9. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade payables 158,501 162,377
Taxation and social security 78,036 55,393
Other payables 5,769 26,352
242,306 244,122

MORROW CULCAVEY LIMITED (REGISTERED NUMBER: NI645882)

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

10. RELATED PARTY TRANSACTIONS

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