REGISTERED NUMBER: |
MORROW CULCAVEY LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 SEPTEMBER 2022 TO 4 MAY 2023 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Property, plant and equipment | 6 |
CURRENT ASSETS |
Inventories | 7 |
Receivables | 8 |
Cash at bank and in hand |
PAYABLES |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
GOVERNMENT GRANTS | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) |
( |
) |
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 |
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 |
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 |
2. | STATEMENT OF COMPLIANCE |
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. |
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 |
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 |
NET BOOK VALUE |
At 4 May 2023 |
At 31 August 2022 |
6. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 September 2022 |
Disposals | ( |
) | ( |
) |
At 4 May 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 4 May 2023 |
NET BOOK VALUE |
At 4 May 2023 |
At 31 August 2022 |
7. | INVENTORIES |
2023 | 2022 |
£ | £ |
Inventories |
8. | RECEIVABLES |
2023 | 2022 |
£ | £ |
Trade receivables |
Amounts owed by group undertakings |
Amounts owed by associates |
Other receivables |
9. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade payables |
Taxation and social security |
Other payables |
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. |