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REGISTERED NUMBER: 06770699 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

J Morrell & Co Limited

J Morrell & Co Limited (Registered number: 06770699)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


J Morrell & Co Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T Morrell
Mrs R Morrell





SECRETARY: Mrs R Morrell





REGISTERED OFFICE: Hill Farm
Brodsworth
Doncaster
South Yorkshire
DN5 7XH





REGISTERED NUMBER: 06770699 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
J Morrell & Co Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J Morrell & Co Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of J Morrell & Co Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J Morrell & Co Limited and state those matters that we have agreed to state to the Board of Directors of J Morrell & Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J Morrell & Co Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J Morrell & Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J Morrell & Co Limited. You consider that J Morrell & Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J Morrell & Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


Date: .............................................

J Morrell & Co Limited (Registered number: 06770699)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 728,789 93,577
Investment property 5 530,000 530,000
1,258,789 623,577

CURRENT ASSETS
Stocks 588,083 856,255
Debtors 6 396,397 374,137
Cash at bank 671,548 548,893
1,656,028 1,779,285
CREDITORS
Amounts falling due within one year 7 221,316 171,633
NET CURRENT ASSETS 1,434,712 1,607,652
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,693,501

2,231,229

CREDITORS
Amounts falling due after more than one
year

8

(204,577

)

-

PROVISIONS FOR LIABILITIES (151,472 ) (30,693 )
NET ASSETS 2,337,452 2,200,536

CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 71,198 71,198
Retained earnings 2,266,252 2,129,336
SHAREHOLDERS' FUNDS 2,337,452 2,200,536

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

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

J Morrell & Co Limited (Registered number: 06770699)

Balance Sheet - continued
31 December 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 16 April 2024 and were signed on its behalf by:




T Morrell - Director



Mrs R Morrell - Director


J Morrell & Co Limited (Registered number: 06770699)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

J Morrell & Co Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is the value of sales of deadstock and cultivations received during the year exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Buildings- 2% on cost
Grain dryer- 4% on cost
Plant and machinery- 25% and 20% reducing balance
Motor vehicles- 25% reducing balance
Fixtures and fittings- 25% reducing balance
Computer equipment- 25% reducing balance

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.

Stocks and valuation
Stock and valuation consists of deadstock and tenantright.

The valuation of tenantright is based on the cost of materials and labour to 31 December 2023 applied to the crops to be harvested in 2024.

Deadstock is valued at the cost of production which represents the lower of cost and net realisable value.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and others debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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.


J Morrell & Co Limited (Registered number: 06770699)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Plant and
Buildings fittings machinery
£    £    £   
COST
At 1 January 2023 20,947 8,920 126,622
Additions - - 737,549
Disposals - - -
At 31 December 2023 20,947 8,920 864,171
DEPRECIATION
At 1 January 2023 5,732 8,543 88,784
Charge for year 419 94 97,517
Eliminated on disposal - - -
At 31 December 2023 6,151 8,637 186,301
NET BOOK VALUE
At 31 December 2023 14,796 283 677,870
At 31 December 2022 15,215 377 37,838

J Morrell & Co Limited (Registered number: 06770699)

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

4. TANGIBLE FIXED ASSETS - continued

Grain Motor Computer
dryer vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 73,860 23,489 3,368 257,206
Additions - - 707 738,256
Disposals - - (1,781 ) (1,781 )
At 31 December 2023 73,860 23,489 2,294 993,681
DEPRECIATION
At 1 January 2023 41,362 16,525 2,683 163,629
Charge for year 2,954 1,741 216 102,941
Eliminated on disposal - - (1,678 ) (1,678 )
At 31 December 2023 44,316 18,266 1,221 264,892
NET BOOK VALUE
At 31 December 2023 29,544 5,223 1,073 728,789
At 31 December 2022 32,498 6,964 685 93,577

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 530,000
NET BOOK VALUE
At 31 December 2023 530,000
At 31 December 2022 530,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 85,247
Cost 444,753
530,000

If investment property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 444,753 444,753

Investment property was valued on an open market basis basis on 31 December 2023 by the directors .



6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 189,561 271,716
Other debtors 206,836 102,421
396,397 374,137

J Morrell & Co Limited (Registered number: 06770699)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 122,860 -
Trade creditors 79,581 37,310
Taxation and social security 1,020 117,688
Other creditors 17,855 16,635
221,316 171,633

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 204,577 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 327,437 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 71,198

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
T Morrell
Balance outstanding at start of year 28,566 (11,268 )
Amounts advanced 158,481 153,349
Amounts repaid (138,237 ) (113,515 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,810 28,566

Mrs R Morrell
Balance outstanding at start of year 28,566 (11,268 )
Amounts advanced 158,481 153,349
Amounts repaid (138,237 ) (113,515 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,810 28,566