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REGISTERED NUMBER: 01900548 (England and Wales)



















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

V MORTON & SONS LIMITED

V MORTON & SONS LIMITED (REGISTERED NUMBER: 01900548)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


V MORTON & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D S Case
S A Case





SECRETARY: S A Case





REGISTERED OFFICE: 705 Bristol Road South
Northfield
BIRMINGHAM
B31 2JT





REGISTERED NUMBER: 01900548 (England and Wales)





ACCOUNTANTS: E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
V MORTON & SONS 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 V Morton & Sons Limited for the year ended 31 March 2024 which comprise the Income Statement, 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 V Morton & Sons 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 V Morton & Sons Limited and state those matters that we have agreed to state to the Board of Directors of V Morton & Sons 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 V Morton & Sons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that V Morton & Sons 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 V Morton & Sons Limited. You consider that V Morton & Sons 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 V Morton & Sons 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.






E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF


9 September 2024

V MORTON & SONS LIMITED (REGISTERED NUMBER: 01900548)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,023,568 1,939,859

CURRENT ASSETS
Stocks 60,911 61,604
Debtors 5 206,895 284,894
Cash at bank and in hand 61,012 159,756
328,818 506,254
CREDITORS
Amounts falling due within one year 6 491,023 701,620
NET CURRENT LIABILITIES (162,205 ) (195,366 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,861,363

1,744,493

CREDITORS
Amounts falling due after more than one
year

7

(245,155

)

(170,672

)

PROVISIONS FOR LIABILITIES (198,648 ) (175,100 )
NET ASSETS 1,417,560 1,398,721

CAPITAL AND RESERVES
Called up share capital 6,010 6,010
Retained earnings 1,411,550 1,392,711
SHAREHOLDERS' FUNDS 1,417,560 1,398,721

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.

V MORTON & SONS LIMITED (REGISTERED NUMBER: 01900548)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:




D S Case - Director



S A Case - Director


V MORTON & SONS LIMITED (REGISTERED NUMBER: 01900548)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

V Morton & Sons 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Fixtures,fittings & catering equipment - at variable rates on reducing balance
Motor vehicles - at variable rates on reducing balance
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

V MORTON & SONS LIMITED (REGISTERED NUMBER: 01900548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,fittings
Freehold & catering Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 900,000 306,984 1,746,741 24,356 2,978,081
Additions - 21,296 267,082 9,660 298,038
Disposals - (5,615 ) (43,541 ) (10,827 ) (59,983 )
At 31 March 2024 900,000 322,665 1,970,282 23,189 3,216,136
DEPRECIATION
At 1 April 2023 19,009 192,603 804,495 22,115 1,038,222
Charge for year 18,876 19,992 167,169 2,605 208,642
Eliminated on disposal - (4,507 ) (38,962 ) (10,827 ) (54,296 )
At 31 March 2024 37,885 208,088 932,702 13,893 1,192,568
NET BOOK VALUE
At 31 March 2024 862,115 114,577 1,037,580 9,296 2,023,568
At 31 March 2023 880,991 114,381 942,246 2,241 1,939,859

Cost or valuation at 31 March 2024 is represented by:

Fixtures,fittings
Freehold & catering Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
Valuation in 2003 108,353 - - - 108,353
Valuation in 2006 27,314 - - - 27,314
Valuation in 2009 279,698 - - - 279,698
Valuation in 2013 278,394 - - - 278,394
Valuation in 2017 (421,164 ) - - - (421,164 )
Valuation in 2022 (128,904 ) - - - (128,904 )
Cost 756,309 322,665 1,970,282 23,189 3,072,445
900,000 322,665 1,970,282 23,189 3,216,136

Freehold land and buildings were valued on an open market value basis on 30 May 2022 by GJS Dillon .

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

20242023
£ £
Cost756,309756,309

Aggregate depreciation360,315346,131

V MORTON & SONS LIMITED (REGISTERED NUMBER: 01900548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 April 2023 803,600
Additions 142,902
Transfer to ownership (401,800 )
At 31 March 2024 544,702
DEPRECIATION
At 1 April 2023 383,653
Charge for year 72,519
Transfer to ownership (225,748 )
At 31 March 2024 230,424
NET BOOK VALUE
At 31 March 2024 314,278
At 31 March 2023 419,947

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 133,499 190,433
Other debtors 73,396 94,461
206,895 284,894

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 113,983 73,626
Hire purchase contracts 42,933 126,070
Trade creditors 138,592 179,434
Amounts owed to group undertakings 32,597 96,801
Taxation and social security 87,740 143,257
Other creditors 75,178 82,432
491,023 701,620

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 147,916 153,669
Hire purchase contracts 97,239 17,003
245,155 170,672

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 110,916 116,669

V MORTON & SONS LIMITED (REGISTERED NUMBER: 01900548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 105,983 65,626
Bank loans 155,916 161,669
Hire purchase contracts 140,172 143,073
402,071 370,368

9. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking at the balance sheet date was Morton and Case Limited, a company incorporated in England. A copy of the ultimate parent undertaking's financial statements may be obtained from it's registered office at 705 Bristol Road South, Northfield, Birmingham, B31 2JT.