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REGISTERED NUMBER: 07154215












Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Morris Carpets Ltd

Morris Carpets Ltd (Registered number: 07154215)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morris Carpets Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S Morris
P Morris





REGISTERED OFFICE: Holly Cottage
89 Park Street
Penrhiwceiber
Mountain Ash
RCT
CF45 3YW





REGISTERED NUMBER: 07154215





ACCOUNTANTS: C Hergest Ltd
AAT Licensed Accountant
28 High Street
Aberdare
RCT
CF44 7AA

Morris Carpets Ltd (Registered number: 07154215)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,398 32,638

CURRENT ASSETS
Stocks 5 77,395 85,739
Debtors 6 3,473 14,917
Cash at bank and in hand 17,598 28,487
98,466 129,143
CREDITORS
Amounts falling due within one year 7 86,289 72,261
NET CURRENT ASSETS 12,177 56,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,575

89,520

CREDITORS
Amounts falling due after more than one
year

8

17,791

32,544
NET ASSETS 17,784 56,976

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 17,684 56,876
SHAREHOLDERS' FUNDS 17,784 56,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Morris Carpets Ltd (Registered number: 07154215)

Balance Sheet - continued
29 February 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 3 October 2024 and were signed on its behalf by:





S Morris - Director


Morris Carpets Ltd (Registered number: 07154215)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Morris Carpets 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.

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% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 27,346 3,950 42,745 74,041
DEPRECIATION
At 1 March 2023 15,813 3,950 21,640 41,403
Charge for year 3,964 - 5,276 9,240
At 29 February 2024 19,777 3,950 26,916 50,643
NET BOOK VALUE
At 29 February 2024 7,569 - 15,829 23,398
At 28 February 2023 11,533 - 21,105 32,638

Morris Carpets Ltd (Registered number: 07154215)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. STOCKS
29.2.24 28.2.23
£    £   
Stocks 72,395 80,739
Work-in-progress 5,000 5,000
77,395 85,739

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 973 10,417
Rental bond 2,500 2,500
Other debtors - 1,500
Prepayments - 500
3,473 14,917

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 19,014 18,291
Other loans 25,770 -
Hire purchase contracts 5,006 6,485
Trade creditors 19,201 21,013
Social security and other taxes 720 434
VAT 7,522 9,388
Directors' current accounts 3,580 11,398
Accrued expenses 5,476 5,252
86,289 72,261

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans more 5 yr by instal 11,803 21,552
Hire purchase contracts 5,988 10,992
17,791 32,544

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,803 21,552

Morris Carpets Ltd (Registered number: 07154215)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. RESERVES
Retained
earnings
£   

At 1 March 2023 56,876
Deficit for the year (37,192 )
Dividends (2,000 )
At 29 February 2024 17,684