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REGISTERED NUMBER: 06967346 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2023

for

KEN MORRIS & CO LTD

KEN MORRIS & CO LTD (REGISTERED NUMBER: 06967346)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEN MORRIS & CO LTD

Company Information
for the Year Ended 31st July 2023







DIRECTORS: Mr R H Morris
Mr L G Morris





SECRETARY: Mrs S L Morris





REGISTERED OFFICE: Rose Cottage
Coppull Moor Lane
Coppull
Chorley
Lancashire
PR7 5JA





REGISTERED NUMBER: 06967346 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

KEN MORRIS & CO LTD (REGISTERED NUMBER: 06967346)

Balance Sheet
31st July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,442 7,871

CURRENT ASSETS
Stocks 5,800 1,985
Debtors 5 7,190 7,239
Cash at bank 15,346 8,941
28,336 18,165
CREDITORS
Amounts falling due within one year 6 19,653 8,542
NET CURRENT ASSETS 8,683 9,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,125

17,494

CREDITORS
Amounts falling due after more than one
year

7

(6,508

)

(12,032

)

PROVISIONS FOR LIABILITIES (1,414 ) (1,495 )
NET ASSETS 8,203 3,967

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 8,201 3,965
SHAREHOLDERS' FUNDS 8,203 3,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

KEN MORRIS & CO LTD (REGISTERED NUMBER: 06967346)

Balance Sheet - continued
31st July 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 31st January 2024 and were signed on its behalf by:




Mr L G Morris - Director



Mr R H Morris - Director


KEN MORRIS & CO LTD (REGISTERED NUMBER: 06967346)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. STATUTORY INFORMATION

Ken Morris & Co Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


KEN MORRIS & CO LTD (REGISTERED NUMBER: 06967346)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

2. 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st August 2022 5,642 21,850 27,492
Additions 1,794 - 1,794
Disposals (357 ) - (357 )
At 31st July 2023 7,079 21,850 28,929
DEPRECIATION
At 1st August 2022 3,665 15,956 19,621
Charge for year 456 1,474 1,930
Eliminated on disposal (64 ) - (64 )
At 31st July 2023 4,057 17,430 21,487
NET BOOK VALUE
At 31st July 2023 3,022 4,420 7,442
At 31st July 2022 1,977 5,894 7,871

KEN MORRIS & CO LTD (REGISTERED NUMBER: 06967346)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 2,245 2,245
Social security and other tax 107 -
Directors' current accounts 4,354 4,437
Prepayments 484 557
7,190 7,239

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 4,299 3,979
Trade creditors 3,076 278
Tax 5,330 -
VAT 5,627 3,001
Accrued expenses 1,321 1,284
19,653 8,542

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 1-2 years 4,077 3,200
Bank loans - 2-5 years 2,431 8,832
6,508 12,032

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 10,505 15,232

The bank loan was taken out under the government backed Bounce Back Loan Scheme.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
2 Ordinary £1 2 2

KEN MORRIS & CO LTD (REGISTERED NUMBER: 06967346)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2023 and 31st July 2022:

31.7.23 31.7.22
£    £   
Mr R H Morris
Balance outstanding at start of year 2,204 1,618
Amounts advanced 10,126 4,096
Amounts repaid (10,109 ) (3,510 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,221 2,204

Mr L G Morris
Balance outstanding at start of year 2,233 1,301
Amounts advanced 10,000 4,132
Amounts repaid (10,100 ) (3,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,133 2,233

11. ULTIMATE CONTROLLING PARTY

Throughout the current period, Mr L G Morris and Mr R H Morris have controlled the company by virtue of holding 100% of the issued ordinary share capital.