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REGISTERED NUMBER: 05012667 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Morton's Solicitors Limited

Morton's Solicitors Limited (Registered number: 05012667)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Morton's Solicitors Limited

Company Information
for the year ended 31 January 2024







DIRECTORS: S E Morton
Mrs L J Morton





SECRETARY: Mrs L J Morton





REGISTERED OFFICE: 22 Middle Hillgate
Stockport
Cheshire
SK1 3AY





REGISTERED NUMBER: 05012667 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Morton's Solicitors Limited (Registered number: 05012667)

Balance Sheet
31 January 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - 25,000
Tangible assets 5 2,206 3,639
2,206 28,639

CURRENT ASSETS
Debtors 6 483,745 402,875
Cash at bank and in hand 656 53,533
484,401 456,408
CREDITORS
Amounts falling due within one year 7 (126,331 ) (84,550 )
NET CURRENT ASSETS 358,070 371,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,276

400,497

PROVISIONS FOR LIABILITIES (292 ) (478 )
NET ASSETS 359,984 400,019

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 358,984 399,019
359,984 400,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 October 2024 and were signed on its behalf by:





S E Morton - Director


Morton's Solicitors Limited (Registered number: 05012667)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Morton's Solicitors 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover represents amounts chargeable to clients for professional services provided during the year, inclusive of direct expenses incurred on client assignments but excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance under each contract, and where it is probable that economic benefits will flow to the entity, and the amount can be measured reliably. Unbilled revenue is included in debtors within prepayments and accrued income.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures & fittings - 20% on cost

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
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.

Morton's Solicitors Limited (Registered number: 05012667)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Distributions to equity holders
Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 February 2023
and 31 January 2024 500,000
AMORTISATION
At 1 February 2023 475,000
Charge for year 25,000
At 31 January 2024 500,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 25,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 February 2023
and 31 January 2024 56,875
DEPRECIATION
At 1 February 2023 53,236
Charge for year 1,433
At 31 January 2024 54,669
NET BOOK VALUE
At 31 January 2024 2,206
At 31 January 2023 3,639

Morton's Solicitors Limited (Registered number: 05012667)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 256,284 148,320
Other debtors 227,461 254,555
483,745 402,875

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 29,116 -
Trade creditors 20,504 1,597
Taxation and social security 55,792 70,910
Other creditors 20,919 12,043
126,331 84,550

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£ £
S E Morton
Balance outstanding at start of year 73,369 38,989
Amounts advanced 55,698 92,400
Amounts repaid (74,000 ) (58,020 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,067 73,369

Mrs L J Morton
Balance outstanding at start of year 92,740 53,915
Amounts advanced 64,642 77,505
Amounts repaid (95,000 ) (38,680 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 62,382 92,740

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Morton's Solicitors 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 Morton's Solicitors Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Morton's Solicitors 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 Morton's Solicitors Limited and state those matters that we have agreed to state to the Board of Directors of Morton's Solicitors 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 Morton's Solicitors Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Morton's Solicitors 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 Morton's Solicitors Limited. You consider that Morton's Solicitors 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 Morton's Solicitors 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.






Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE


9 October 2024