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REGISTERED NUMBER: SC057945 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

A.Y.Morton and Company Limited

A.Y.Morton and Company Limited (Registered number: SC057945)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


A.Y.Morton and Company Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Margaret Morton
Alastair Morton
Kirsty Margaret Redfern





SECRETARY: Margaret C F Morton





REGISTERED OFFICE: The Old Station
Station Road
Strathaven
ML10 6BE





REGISTERED NUMBER: SC057945 (Scotland)





ACCOUNTANTS: MRA Business Services Limited
Chartered Accountants
2 & 6 Wellgatehead
Lanark
Lanarkshire
ML11 9AA

A.Y.Morton and Company Limited (Registered number: SC057945)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 105,189 97,769

CURRENT ASSETS
Stocks 315,749 392,805
Debtors 5 107,833 86,225
Cash at bank and in hand 47,857 154,606
471,439 633,636
CREDITORS
Amounts falling due within one year 6 330,910 452,657
NET CURRENT ASSETS 140,529 180,979
TOTAL ASSETS LESS CURRENT
LIABILITIES

245,718

278,748

CREDITORS
Amounts falling due after more than one year 7 146,501 186,081
NET ASSETS 99,217 92,667

CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Retained earnings 29,217 22,667
SHAREHOLDERS' FUNDS 99,217 92,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Alastair Morton - Director


A.Y.Morton and Company Limited (Registered number: SC057945)

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

1. STATUTORY INFORMATION

A.Y.Morton and Company Limited is a private company, limited by shares , registered in Scotland. 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.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% 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.

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.

Research and development
Research and development costs are recognised in the profit and loss account as expenditure as and when they are incurred.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

A.Y.Morton and Company Limited (Registered number: SC057945)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 73,196 5,373 181,526 3,020 263,115
Additions - 1,083 26,650 - 27,733
Disposals - - (7,190 ) - (7,190 )
At 31 December 2023 73,196 6,456 200,986 3,020 283,658
DEPRECIATION
At 1 January 2023 49,528 4,888 110,004 926 165,346
Charge for year 4,135 213 8,405 370 13,123
At 31 December 2023 53,663 5,101 118,409 1,296 178,469
NET BOOK VALUE
At 31 December 2023 19,533 1,355 82,577 1,724 105,189
At 31 December 2022 23,668 485 71,522 2,094 97,769

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 91,074 27,233
Other debtors 16,759 58,992
107,833 86,225

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 43,824 45,660
Hire purchase contracts 18,191 12,768
Trade creditors 259,746 370,905
Taxation and social security 9,149 22,961
Other creditors - 363
330,910 452,657

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 61,880 94,592
Hire purchase contracts 21,981 19,903
Other creditors 62,640 71,586
146,501 186,081

8. RELATED PARTY DISCLOSURES

Rents of £52,080 (2022 £50,863) were paid during the year to associated company Geco Scotland Limited.