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REGISTERED NUMBER: 00875548















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

T MORGAN & SONS (LOCK MANUFACTURERS) LTD

T MORGAN & SONS (LOCK MANUFACTURERS) LTD (REGISTERED NUMBER: 00875548)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


T MORGAN & SONS (LOCK MANUFACTURERS) LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr P Morton
Mrs D C Morton





SECRETARY: Mr P Morton





REGISTERED OFFICE: 8 @ The Bradshaws
Holyhead Road
Codsall
West Midlands
WV8 2HU





REGISTERED NUMBER: 00875548





ACCOUNTANTS: Wright & Co Partnership Limited
Chartered Accountants
5 Walsall Street
Wednesbury
West Midlands
WS10 9BZ

T MORGAN & SONS (LOCK MANUFACTURERS) LTD (REGISTERED NUMBER: 00875548)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 170,492 147,298

CURRENT ASSETS
Stocks 277,741 263,701
Debtors 117,397 164,920
Cash at bank 398,662 388,664
793,800 817,285
CREDITORS
Amounts falling due within one year 125,410 184,911
NET CURRENT ASSETS 668,390 632,374
TOTAL ASSETS LESS CURRENT
LIABILITIES

838,882

779,672

PROVISIONS FOR LIABILITIES 12,623 5,187
NET ASSETS 826,259 774,485

CAPITAL AND RESERVES
Called up share capital 1,751 1,751
Revaluation reserve 5 97,387 97,387
Retained earnings 727,121 675,347
SHAREHOLDERS' FUNDS 826,259 774,485

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 June 2024 and were signed on its behalf by:





Mr P Morton - Director


T MORGAN & SONS (LOCK MANUFACTURERS) LTD (REGISTERED NUMBER: 00875548)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

T Morgan & Sons (Lock Manufacturers) Ltd is a private company, limited by shares , registered in Not specified/Other. 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 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.
Freehold property - not provided
Plant & machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.

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 (2023 - 3 ) .

T MORGAN & SONS (LOCK MANUFACTURERS) LTD (REGISTERED NUMBER: 00875548)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2023 332,073
Additions 44,302
Disposals (18,995 )
At 31 March 2024 357,380
DEPRECIATION
At 1 April 2023 184,775
Charge for year 13,095
Eliminated on disposal (10,982 )
At 31 March 2024 186,888
NET BOOK VALUE
At 31 March 2024 170,492
At 31 March 2023 147,298

Cost or valuation at 31 March 2024 is represented by:

Totals
£   
Valuation in 2001 27,387
Valuation in 2008 70,000
Cost 259,993
357,380

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 22,613 22,613

Freehold property was valued on an open market basis on 31 January 2008 by Chamberlains Chartered Surveyors .

5. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 97,387

6. ULTIMATE CONTROLLING PARTY

Throughout the year and the previous year the company was controlled by the directors by virtue of their holding of all of the company's issued share capital.