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Peter Morris Funeral Directors Limited

Financial Statements for the Year Ended 31 March 2024






Peter Morris Funeral Directors Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R W Morris
P D Morris
A V Morris





SECRETARY: A V Morris





REGISTERED OFFICE: Chester Street
Mold
Flintshire
CH7 1EG





REGISTERED NUMBER: 05119195 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Peter Morris Funeral Directors 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 Peter Morris Funeral Directors Limited for the year ended 31 March 2024 which comprise the Profit and Loss Account, 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 Peter Morris Funeral Directors 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 Peter Morris Funeral Directors Limited and state those matters that we have agreed to state to the Board of Directors of Peter Morris Funeral Directors 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 Peter Morris Funeral Directors Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Peter Morris Funeral Directors 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 Peter Morris Funeral Directors Limited. You consider that Peter Morris Funeral Directors 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 Peter Morris Funeral Directors 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.






BPU Limited
Chartered Accountants


23 August 2024

Peter Morris Funeral Directors Limited (Registered number: 05119195)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 628,161 584,978

CURRENT ASSETS
Stocks 13,200 34,300
Debtors 4 386,448 48,707
Cash at bank and in hand 501,628 779,253
901,276 862,260
CREDITORS
Amounts falling due within one year 5 97,459 82,361
NET CURRENT ASSETS 803,817 779,899
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,431,978

1,364,877

PROVISIONS FOR LIABILITIES 47,000 39,100
NET ASSETS 1,384,978 1,325,777

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,384,878 1,325,677
SHAREHOLDERS' FUNDS 1,384,978 1,325,777

Peter Morris Funeral Directors Limited (Registered number: 05119195)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





P D Morris - Director


Peter Morris Funeral Directors Limited (Registered number: 05119195)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. 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 - 20% reducing balance
Fixtures and fittings - 20% reducing balance
Motor vehicles - 15% reducing balance

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

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 Profit and Loss Account, 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.


Peter Morris Funeral Directors Limited (Registered number: 05119195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


1. 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
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Peter Morris Funeral Directors Limited (Registered number: 05119195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 April 2023 367,753 20,804 52,285
Additions - - 37,375
Disposals - - -
At 31 March 2024 367,753 20,804 89,660
DEPRECIATION
At 1 April 2023 - 20,804 38,633
Charge for year - - 10,683
Eliminated on disposal - - -
At 31 March 2024 - 20,804 49,316
NET BOOK VALUE
At 31 March 2024 367,753 - 40,344
At 31 March 2023 367,753 - 13,652

Peter Morris Funeral Directors Limited (Registered number: 05119195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 48,061 402,172 891,075
Additions - 58,900 96,275
Disposals - (55,000 ) (55,000 )
At 31 March 2024 48,061 406,072 932,350
DEPRECIATION
At 1 April 2023 39,490 207,170 306,097
Charge for year 2,651 32,359 45,693
Eliminated on disposal - (47,601 ) (47,601 )
At 31 March 2024 42,141 191,928 304,189
NET BOOK VALUE
At 31 March 2024 5,920 214,144 628,161
At 31 March 2023 8,571 195,002 584,978

Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55,864 44,981
Other debtors & prepayments 330,584 3,726
386,448 48,707

Peter Morris Funeral Directors Limited (Registered number: 05119195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 58,178 49,879
Taxes & social security costs 18,706 14,344
Other creditors & accruals 20,575 18,138
97,459 82,361

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31st March 2024 the directors loan accounts were overdrawn by £326,258.These were repaid in April 2024.

7. ULTIMATE CONTROLLING PARTY

The controlling party is P D Morris.