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REGISTERED NUMBER: 00133248 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024


FOR



H. MORRIS & COMPANY LIMITED


H. MORRIS & COMPANY LIMITED (REGISTERED NUMBER: 00133248)


CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024











Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4




H. MORRIS & COMPANY LIMITED


COMPANY INFORMATION

FOR THE YEAR ENDED 31 JANUARY 2024









DIRECTORS:

Robert H Morris


George F McGraw





SECRETARY:

Robert H Morris





REGISTERED OFFICE:

4 Swanbridge Industrial Park


Black Croft Road


Witham


Essex


CM8 3YN





REGISTERED NUMBER:

00133248 (England and Wales)





ACCOUNTANTS:

Bannerman Johnstone Maclay


Chartered Accountants


213 St Vincent Street


Glasgow


G2 5QY





BANKERS:

Virgin Money


2 - 4 Royal Exchange Square


Glasgow


G1 3AB





SOLICITORS:

MacRoberts LLP


Capella


60 York Street


Glasgow


G2 8JX


H. MORRIS & COMPANY LIMITED (REGISTERED NUMBER: 00133248)


BALANCE SHEET

31 JANUARY 2024



2024

2023



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

96,618


92,107



Investments

5

2


2



Investment property

6

20,495,915


19,370,625



20,592,535


19,462,734




CURRENT ASSETS

Stocks

-


86,178



Debtors

7

4,783,247


4,943,675



Cash at bank and in hand

124,188


36,945



4,907,435


5,066,798



CREDITORS

Amounts falling due within one year

8

2,235,105


2,597,377



NET CURRENT ASSETS

2,672,330


2,469,421



TOTAL ASSETS LESS CURRENT

LIABILITIES

23,264,865


21,932,155




CREDITORS

Amounts falling due after more than one

year

9

(9,530,598

)

(8,949,148

)



ACCRUALS AND DEFERRED INCOME

(9,778,405

)

(9,778,405

)


NET ASSETS

3,955,862


3,204,602




CAPITAL AND RESERVES

Called up share capital

100,000


100,000



Retained earnings

3,855,862


3,104,602



SHAREHOLDERS' FUNDS

3,955,862


3,204,602




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.


H. MORRIS & COMPANY LIMITED (REGISTERED NUMBER: 00133248)


BALANCE SHEET - continued

31 JANUARY 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 30 October 2024 and were signed on its behalf by:






Robert H Morris - Director



H. MORRIS & COMPANY LIMITED (REGISTERED NUMBER: 00133248)


NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024



1.

STATUTORY INFORMATION



H. Morris & Company 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 comprises rental income receivable in the year.



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.  


Plant and machinery etc

-        

33% on cost, 25% on reducing balance, 20% on cost, 20% on reducing balance and 10% on cost  



Investments in subsidiaries


Investments in subsidiary undertakings are recognised at cost.



Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.


H. MORRIS & COMPANY LIMITED (REGISTERED NUMBER: 00133248)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2024



2.

ACCOUNTING POLICIES - continued


Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including certain creditors and loans from related undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


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.


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 6 (2023 - 6 ) .


H. MORRIS & COMPANY LIMITED (REGISTERED NUMBER: 00133248)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2024



4.

TANGIBLE FIXED ASSETS


Plant and


machinery


etc

£   



COST


At 1 February 2023

571,703




Additions

27,850




At 31 January 2024

599,553




DEPRECIATION


At 1 February 2023

479,596




Charge for year

23,339




At 31 January 2024

502,935




NET BOOK VALUE


At 31 January 2024

96,618




At 31 January 2023

92,107





Fixed assets, included in the above, which are held under hire purchase contracts are as follows:



Plant and


machinery


etc

£   



COST


At 1 February 2023


and 31 January 2024

68,551




DEPRECIATION


At 1 February 2023

27,420




Charge for year

6,855




At 31 January 2024

34,275




NET BOOK VALUE


At 31 January 2024

34,276




At 31 January 2023

41,131




H. MORRIS & COMPANY LIMITED (REGISTERED NUMBER: 00133248)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2024



5.

FIXED ASSET INVESTMENTS


Shares in


group


undertakings

£   



COST


At 1 February 2023


and 31 January 2024

2




NET BOOK VALUE


At 31 January 2024

2




At 31 January 2023

2




6.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 February 2023

19,370,625




Additions

1,295,290




Disposals

(170,000

)



At 31 January 2024

20,495,915




NET BOOK VALUE


At 31 January 2024

20,495,915




At 31 January 2023

19,370,625





In the opinion of the directors, the open market value of the investment properties as at 31 January 2024 is £20,495,915.



Fixed assets, included in the above, which are held under finance leases are as follows:


Total

£   



FAIR VALUE


At 1 February 2023


and 31 January 2024

165,000




NET BOOK VALUE


At 31 January 2024

165,000




At 31 January 2023

165,000




7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade debtors

457,133


342,789




Amounts owed by group undertakings

111,517


314,787




Amounts owed by related undertakings

2,380,042


2,355,297




Other debtors

1,834,555


1,930,802



4,783,247


4,943,675




H. MORRIS & COMPANY LIMITED (REGISTERED NUMBER: 00133248)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2024



8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Bank loans and overdrafts

10,000


36,412




Hire purchase contracts

-


41,896




Trade creditors

321,331


357,098




Amounts owed to related undertakings

265,649


221,714




Taxation and social security

28,467


27,887




Other creditors

1,609,658


1,912,370



2,235,105


2,597,377




9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR


2024

2023


£   

£   



Bank loans

4,088,939


3,507,489




Amounts owed to group undertakings

5,319,659


5,319,659




Other creditors

122,000


122,000



9,530,598


8,949,148





Amounts falling due in more than five years:



Repayable otherwise than by instalments


Preference shares

2,000


2,000




Bank loans are secured by standard securities over the company's properties at Rosyth Road, Rutherglen Road and Southcroft Road in Glasgow, Paxstone Crescent in Harthill and Tannahill Court in Paisley.

10.

ULTIMATE CONTROLLING PARTY



The company's ultimate controlling party is Neidpath Investment Company Limited, a company incorporated in Scotland.