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Company Registration No. SC478750 (Scotland)
FRED MORRISON PIPES LTD Unaudited accounts for the year ended 31 May 2023
FRED MORRISON PIPES LTD Unaudited accounts Contents
Page
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FRED MORRISON PIPES LTD Company Information for the year ended 31 May 2023
Directors
FRED MORRISON DEIRDRE MORRISON
Company Number
SC478750 (Scotland)
Registered Office
2 VICTORIA PLACE RUTHERGLEN GLASGOW G73 2JP
Accountants
Brand Jamieson & Co Ltd 2 Victoria Place Rutherglen Glasgow G73 2JP
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FRED MORRISON PIPES LTD Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,000 
8,000 
Tangible assets
13,398 
9,468 
19,398 
17,468 
Current assets
Inventories
3,825 
4,050 
Debtors
23,014 
7,759 
Cash at bank and in hand
117,171 
59,211 
144,010 
71,020 
Creditors: amounts falling due within one year
(147,304)
(88,065)
Net current liabilities
(3,294)
(17,045)
Net assets
16,104 
423 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
16,004 
323 
Shareholders' funds
16,104 
423 
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by
DEIRDRE MORRISON Director Company Registration No. SC478750
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FRED MORRISON PIPES LTD Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
FRED MORRISON PIPES LTD is a private company, limited by shares, registered in Scotland, registration number SC478750. The registered office is 2 VICTORIA PLACE, RUTHERGLEN, GLASGOW, G73 2JP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2022
20,000 
At 31 May 2023
20,000 
Amortisation
At 1 June 2022
12,000 
Charge for the year
2,000 
At 31 May 2023
14,000 
Net book value
At 31 May 2023
6,000 
At 31 May 2022
8,000 
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FRED MORRISON PIPES LTD Notes to the Accounts for the year ended 31 May 2023
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2022
9,943 
Additions
4,000 
At 31 May 2023
13,943 
Depreciation
At 1 June 2022
475 
Charge for the year
70 
At 31 May 2023
545 
Net book value
At 31 May 2023
13,398 
At 31 May 2022
9,468 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
8,673 
2,322 
Trade debtors
14,341 
5,437 
23,014 
7,759 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
32,175 
12,153 
Taxes and social security
59,332 
35,996 
Other creditors
49,854 
66,849 
Loans from directors
3,496 
(29,454)
Accruals
2,447 
2,521 
147,304 
88,065 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
FRED MORRISON
DIRECTORS LOAN
14,728 
- 
16,475 
(1,747)
DEIRDRE MORRISON
DIRECTORS LOAN
14,726 
- 
16,475 
(1,749)
29,454 
- 
32,950 
(3,496)
9
Transactions with related parties
During the year , dividends of £90,000 ( 2022 £61,000 ) were paid to the directors.
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FRED MORRISON PIPES LTD Notes to the Accounts for the year ended 31 May 2023
10
Controlling party
Control of the company is shared equally by the directors.
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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