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REGISTERED NUMBER: 06572110 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

MORTON & JONES LIMITED

MORTON & JONES LIMITED (REGISTERED NUMBER: 06572110)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORTON & JONES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: K W Morton
J E Jones
T W Morton
A R Jones



REGISTERED OFFICE: Unit D2
3&4 Bersham Enterpise Centre
Plas Grono Road
Wrexham
LL14 4EG



REGISTERED NUMBER: 06572110 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: HSBC Bank plc
17-19 Regent Street
Wrexham
LL11 1RN

MORTON & JONES LIMITED (REGISTERED NUMBER: 06572110)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 106,250 131,250
Tangible assets 5 943,756 1,066,250
1,050,006 1,197,500

CURRENT ASSETS
Stocks 6 367,503 539,145
Debtors 7 395,070 998,631
Cash at bank and in hand 330,186 780,395
1,092,759 2,318,171
CREDITORS
Amounts falling due within one year 8 420,182 697,223
NET CURRENT ASSETS 672,577 1,620,948
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,722,583

2,818,448

PROVISIONS FOR LIABILITIES 9 178,845 159,139
NET ASSETS 1,543,738 2,659,309

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,543,638 2,659,209
SHAREHOLDERS' FUNDS 1,543,738 2,659,309

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

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

MORTON & JONES LIMITED (REGISTERED NUMBER: 06572110)

BALANCE SHEET - continued
31ST MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th November 2024 and were signed on its behalf by:





K W Morton - Director


MORTON & JONES LIMITED (REGISTERED NUMBER: 06572110)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Morton & Jones 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.

The company's presentational currency is pounds sterling.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 cost
Computer equipment / office - 25% on cost

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MORTON & JONES LIMITED (REGISTERED NUMBER: 06572110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2023 - 58 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 500,000
AMORTISATION
At 1st April 2023 368,750
Amortisation for year 25,000
At 31st March 2024 393,750
NET BOOK VALUE
At 31st March 2024 106,250
At 31st March 2023 131,250

MORTON & JONES LIMITED (REGISTERED NUMBER: 06572110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1st April 2023 96,100 132,239 390,471
Additions - - 15,366
Disposals - - (24,500 )
At 31st March 2024 96,100 132,239 381,337
DEPRECIATION
At 1st April 2023 - 4,674 207,373
Charge for year - - 55,066
Eliminated on disposal - - (10,025 )
At 31st March 2024 - 4,674 252,414
NET BOOK VALUE
At 31st March 2024 96,100 127,565 128,923
At 31st March 2023 96,100 127,565 183,098

Fixtures Computer
and Motor equipment
fittings vehicles / office Totals
£    £    £    £   
COST
At 1st April 2023 9,610 1,260,362 80,494 1,969,276
Additions - 176,771 3,235 195,372
Disposals - (57,470 ) - (81,970 )
At 31st March 2024 9,610 1,379,663 83,729 2,082,678
DEPRECIATION
At 1st April 2023 8,150 613,127 69,702 903,026
Charge for year 1,272 242,647 4,403 303,388
Eliminated on disposal - (57,467 ) - (67,492 )
At 31st March 2024 9,422 798,307 74,105 1,138,922
NET BOOK VALUE
At 31st March 2024 188 581,356 9,624 943,756
At 31st March 2023 1,460 647,235 10,792 1,066,250

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 172,503 226,145
Work-in-progress 195,000 313,000
367,503 539,145

MORTON & JONES LIMITED (REGISTERED NUMBER: 06572110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 384,097 690,174
Other debtors - 300,720
Prepayments 10,973 7,737
395,070 998,631

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 114,313 272,312
Tax 171,783 144,648
Social security and other taxes 43,230 42,812
VAT 82,462 198,889
Accrued expenses 8,394 38,562
420,182 697,223

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 178,845 159,139

Deferred
tax
£   
Balance at 1st April 2023 159,139
Movement in the year due to:
changes in tax allowances (23,217 )
changes in tax rates 42,923
Balance at 31st March 2024 178,845

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

11. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements - -

MORTON & JONES LIMITED (REGISTERED NUMBER: 06572110)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

12. ULTIMATE CONTROLLING PARTY

The controlling party is Morton and Jones Holdings Limited.

Morton and Jones Holdings Limited is registered in England and Wales.