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REGISTERED NUMBER: SC645772 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Morley's Coffee Ltd.

Morley's Coffee Ltd. (Registered number: SC645772)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Morley's Coffee Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J W Morley
A J Morley





REGISTERED OFFICE: Turf Hill House
Forglen
Turriff
AB53 4LR





REGISTERED NUMBER: SC645772 (Scotland)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

Morley's Coffee Ltd. (Registered number: SC645772)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,046 53,438

CURRENT ASSETS
Stocks - 2,998
Debtors 5 3,833 4,996
Cash at bank and in hand 4,978 1,032
8,811 9,026
CREDITORS
Amounts falling due within one year 6 124,822 113,361
NET CURRENT LIABILITIES (116,011 ) (104,335 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(71,965

)

(50,897

)

CREDITORS
Amounts falling due after more than one year 7 1,056 3,589
NET LIABILITIES (73,021 ) (54,486 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (73,023 ) (54,488 )
(73,021 ) (54,486 )

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.

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 22 October 2024 and were signed on its behalf by:





A J Morley - Director


Morley's Coffee Ltd. (Registered number: SC645772)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Morley's Coffee Ltd. 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.

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.

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 etc - 25% 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Morley's Coffee Ltd. (Registered number: SC645772)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 88,197
Additions 5,290
At 31 March 2024 93,487
DEPRECIATION
At 1 April 2023 34,759
Charge for year 14,682
At 31 March 2024 49,441
NET BOOK VALUE
At 31 March 2024 44,046
At 31 March 2023 53,438

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,123 -
Other debtors 2,710 4,996
3,833 4,996

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 8) 2,533 2,533
Other creditors 122,289 110,828
124,822 113,361

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 8) 1,056 3,589

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 2,533 2,533
Between one and five years 1,056 3,589
3,589 6,122

Morley's Coffee Ltd. (Registered number: SC645772)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 5,677 5,676
Between one and five years 4,731 10,408
10,408 16,084

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 3,589 6,122

Hire purchase loans are secured against the asset they relate to.