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Registration number: 11955137

Morris Managed Solutions Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Morris Managed Solutions Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Morris Managed Solutions Limited

Company Information

Directors

Mr Martin Morris

Mrs Alexandra Morris

Registered office

112-114 C/o Burton Beavan
Witton Street
Northwich
CW9 5NW

 

Morris Managed Solutions Limited

(Registration number: 11955137)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

95,337

266,734

Investments

5

50,000

50,000

 

145,337

316,734

Current assets

 

Debtors

6

304,081

345,990

Cash at bank and in hand

 

111,511

38,587

 

415,592

384,577

Prepayments and accrued income

 

1,660

829

Creditors: Amounts falling due within one year

(114,418)

(205,770)

Net current assets

 

302,834

179,636

Total assets less current liabilities

 

448,171

496,370

Creditors: Amounts falling due after more than one year

(35,851)

(39,941)

Net assets

 

412,320

456,429

Capital and reserves

 

Called up share capital

7

4

2

Retained earnings

412,316

456,427

Shareholders' funds

 

412,320

456,429

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Morris Managed Solutions Limited

(Registration number: 11955137)
Abridged Balance Sheet as at 31 December 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

.........................................
Mr Martin Morris
Director

 

Morris Managed Solutions Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
112-114 C/o Burton Beavan
Witton Street
Northwich
CW9 5NW
UK

These financial statements were authorised for issue by the Board on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Morris Managed Solutions Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

Reducing balance 25%

Fixtures & Fittings

Reducing balance 15%

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Morris Managed Solutions Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 0).

 

Morris Managed Solutions Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

144,554

36,278

107,350

288,182

Additions

-

1,347

-

1,347

Disposals

(144,554)

-

-

(144,554)

At 31 December 2023

-

37,625

107,350

144,975

Depreciation

At 1 January 2023

-

6,915

14,533

21,448

Charge for the year

-

4,986

23,204

28,190

At 31 December 2023

-

11,901

37,737

49,638

Carrying amount

At 31 December 2023

-

25,724

69,613

95,337

At 31 December 2022

144,554

29,363

92,817

266,734

Included within the net book value of land and buildings above is £144,554 (2022 - £144,554) in respect of freehold land and buildings and £(144,554) (2022 - £Nil) in respect of long leasehold land and buildings.
 

5

Investments

Total
£

Cost or valuation

At 1 January 2023

50,000

Provision

Carrying amount

At 31 December 2023

50,000

At 31 December 2022

50,000

 

Morris Managed Solutions Limited

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

2023
£

2022
£

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Related party transactions

Summary of transactions with subsidiaries

Let's Move Tech Limited & Make Ur Move Limited are both subisidiaries of Morris Managed Solutions with MMS being the majority shareholder in both.
 Increase in lending to Let's Move Tech from £175,737 in 2022 to £187,508 in 2023.

Sales of £11,000 to Make Ur Move Limited and increase in lending to MURM from £48,000 in 2022 to £63,000 in 2023.

At the end of the year Morris Managed Solutions Limited owed Make Ur Move Limited a balance of £105,600 for services delivered.

Lets Move Tech Limited owed Morris Managed Solutions Limited a balance of £47,000 for services delivered.

 No specific repayment terms or guarantess on loan