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REGISTERED NUMBER: 08311904 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Morris Recycling Limited

Morris Recycling Limited (Registered number: 08311904)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morris Recycling Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: A P Morris





REGISTERED OFFICE: Unit 34 Coneygree Industrial Estate
Tipton
West Midlands
DY4 8XP





REGISTERED NUMBER: 08311904 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Morris Recycling Limited (Registered number: 08311904)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,191,117 329,446

CURRENT ASSETS
Stocks 129,275 89,688
Debtors 5 168,463 425,579
Cash at bank 195,401 663,500
493,139 1,178,767
CREDITORS
Amounts falling due within one year 6 396,551 829,130
NET CURRENT ASSETS 96,588 349,637
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,287,705

679,083

CREDITORS
Amounts falling due after more than one
year

7

(538,833

)

(68,184

)

PROVISIONS FOR LIABILITIES 10 (215,008 ) (62,595 )
NET ASSETS 533,864 548,304

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 533,764 548,204
SHAREHOLDERS' FUNDS 533,864 548,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Morris Recycling Limited (Registered number: 08311904)

Balance Sheet - continued
30 November 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 director and authorised for issue on 21 February 2024 and were signed by:





A P Morris - Director


Morris Recycling Limited (Registered number: 08311904)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Morris Recycling 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Morris Recycling Limited (Registered number: 08311904)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 507,988 175,791 2,616 686,395
Additions 1,031,058 41,500 - 1,072,558
At 30 November 2023 1,539,046 217,291 2,616 1,758,953
DEPRECIATION
At 1 December 2022 267,343 88,461 1,145 356,949
Charge for year 178,311 32,208 368 210,887
At 30 November 2023 445,654 120,669 1,513 567,836
NET BOOK VALUE
At 30 November 2023 1,093,392 96,622 1,103 1,191,117
At 30 November 2022 240,645 87,330 1,471 329,446

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 129,435 152,144
Associated company loan - 245,800
Prepayments 39,028 27,635
168,463 425,579

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 18,182 18,182
Hire purchase contracts (see note 8) 143,383 29,267
Trade creditors 143,187 130,398
Taxation and social security 38,079 115,251
Other creditors 53,720 536,032
396,551 829,130

Morris Recycling Limited (Registered number: 08311904)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 27,272 45,454
Hire purchase contracts (see note 8) 511,561 22,730
538,833 68,184

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.11.23 30.11.22
£    £   
Gross obligations repayable:
Within one year 188,551 34,536
Between one and five years 683,106 26,350
871,657 60,886

Finance charges repayable:
Within one year 45,168 5,269
Between one and five years 171,545 3,620
216,713 8,889

Net obligations repayable:
Within one year 143,383 29,267
Between one and five years 511,561 22,730
654,944 51,997

9. SECURED DEBTS

National Westminster Bank Plc hold an all assets debenture containing a fixed and floating charge dated 15th October 2021.

10. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 215,008 62,595

Deferred
tax
£   
Balance at 1 December 2022 62,595
Provided during year 152,413
Balance at 30 November 2023 215,008

Morris Recycling Limited (Registered number: 08311904)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

Debtors (including non interest bearing loans) as at 30th November 2023 include due from Drew Bob Limited £nil, (2022 - £245,800).

Creditors (including non interest bearing loans) as at 30th November 2023 include due to Drew Bob Limited £nil, (2022 - £250,000) and due to Blue Logan Limited £nil. (2022 - £250,000).

Morris Recycling Limited, Blue Logan Limited and Drew Bob Limited share common directors and shareholders.

13. ULTIMATE CONTROLLING PARTY

The company is under the control of its director Mr A P Morris as he owns all of the issued share capital.