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REGISTERED NUMBER: 07936636 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Morton Growers Limited

Morton Growers Limited (Registered number: 07936636)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Morton Growers Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: J P Edwards
Mrs H R Edwards



REGISTERED OFFICE: Morton Ley Farm
Morton
Oswestry
Shropshire
SY10 8BG



REGISTERED NUMBER: 07936636 (England and Wales)



ACCOUNTANTS: WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG



BANKERS: Barclays Bank Plc
44-46 Castle Street
Shrewsbury
Shropshire
SY1 2BU

Morton Growers Limited (Registered number: 07936636)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,423,948 2,435,165

CURRENT ASSETS
Inventories 199,406 206,802
Debtors 5 214,492 623,343
Cash at bank 4,810 5,072
418,708 835,217
CREDITORS
Amounts falling due within one year 6 540,361 963,988
NET CURRENT LIABILITIES (121,653 ) (128,771 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,302,295

2,306,394

CREDITORS
Amounts falling due after more than
one year

7

(1,029,190

)

(1,168,793

)

PROVISIONS FOR LIABILITIES (194,748 ) (144,621 )
NET ASSETS 1,078,357 992,980

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,078,355 992,978
SHAREHOLDERS' FUNDS 1,078,357 992,980

Morton Growers Limited (Registered number: 07936636)

Statement of Financial Position - continued
29 February 2024


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.

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 6 November 2024 and were signed on its behalf by:





J P Edwards - Director


Morton Growers Limited (Registered number: 07936636)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Morton Growers 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.

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
Revenue 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.
Land and buildings - Land nil, buildings 2% on cost
Plant and machinery etc - 10% or 20% on reducing balance

Stocks
Inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Morton Growers Limited (Registered number: 07936636)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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 3 (2023 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023 1,779,521 1,831,289 19,654 85,500 3,715,964
Additions 44,834 1,119 1,852 117,639 165,444
Disposals - - (1,823 ) (85,000 ) (86,823 )
At 29 February 2024 1,824,355 1,832,408 19,683 118,139 3,794,585
DEPRECIATION
At 1 March 2023 259,587 956,739 9,815 54,658 1,280,799
Charge for year 34,047 102,896 1,903 5,900 144,746
Eliminated on disposal - - (662 ) (54,246 ) (54,908 )
At 29 February 2024 293,634 1,059,635 11,056 6,312 1,370,637
NET BOOK VALUE
At 29 February 2024 1,530,721 772,773 8,627 111,827 2,423,948
At 28 February 2023 1,519,934 874,550 9,839 30,842 2,435,165

Included in cost of land and buildings is freehold land of £ 119,100 (2023 - £ 119,100 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,187 517,579
Other debtors 184,305 105,764
214,492 623,343

Morton Growers Limited (Registered number: 07936636)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 173,645 185,965
Hire purchase contracts 43,098 26,188
Trade creditors 227,101 637,170
Taxation and social security 74,025 47,950
Other creditors 22,492 66,715
540,361 963,988

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 957,752 1,119,078
Hire purchase contracts 71,438 49,715
1,029,190 1,168,793

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable in five
years or more 263,171 375,218
263,171 375,218

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,131,397 1,305,043

The bank borrowings are secured by fixed and floating charges on the assets of the company dated 22 March 2012, 1 August 2012, 25 January 2016 and 14 November 2022.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in debtors falling due within one year are amounts totalling £61,293 (2023 - creditor of £52,827) due from the directors of the company, these amounts are payable on demand. During the year interest of £186 (2023 - £Nil) was received on the balance.

Morton Growers Limited (Registered number: 07936636)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £65,208 (2023 - £65,260) were paid to the directors .