2023-04-302024-04-292024-04-29false06903540MORTON GRANGE 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MORTON GRANGE LIMITED

Registered Number
06903540
(England and Wales)

Unaudited Financial Statements for the Year ended
29 April 2024

MORTON GRANGE LIMITED
Company Information
for the year from 30 April 2023 to 29 April 2024

Directors

SANDERSON, Albert Robin
SANDERSON, James Edward
SANDERSON, Lucy Mary

Company Secretary

SANDERSON, James Edward

Registered Address

Morton Grange
Morton On Swale
Northallerton
DL7 9RQ

Registered Number

06903540 (England and Wales)
MORTON GRANGE LIMITED
Statement of Financial Position
29 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,653,8041,639,709
1,653,8041,639,709
Current assets
Stocks4834,5551,028,333
Debtors5224,518110,082
Cash at bank and on hand2,225,655697,270
3,284,7281,835,685
Creditors amounts falling due within one year6(837,497)(831,884)
Net current assets (liabilities)2,447,2311,003,801
Total assets less current liabilities4,101,0352,643,510
Creditors amounts falling due after one year7(33,625)-
Provisions for liabilities8(412,900)(409,200)
Net assets3,654,5102,234,310
Capital and reserves
Called up share capital1,0001,000
Profit and loss account3,653,5102,233,310
Shareholders' funds3,654,5102,234,310
The financial statements were approved and authorised for issue by the Board of Directors on 21 January 2025, and are signed on its behalf by:
SANDERSON, James Edward
Director
SANDERSON, Lucy Mary
Director

Registered Company No. 06903540
MORTON GRANGE LIMITED
Notes to the Financial Statements
for the year ended 29 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-25
Plant and machinery15-
Vehicles25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Biological assets within stock, comprising of pigs are valued under the deemed cost model in accordance with section 34 of FRS 102 using the selling price less costs to sell. Farming stocks, raw materials and consumables are stated at the lower of cost and net realisable value. Living plants are valued at deemed cost in accordance with section 34 of FRS 102, using the selling price less costs to sell.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year1716
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 30 April 231,445,985721,37427,4452,194,804
Additions22,000125,7183,869151,587
Disposals--(1,535)(1,535)
At 29 April 241,467,985847,09229,7792,344,856
Depreciation and impairment
At 30 April 23200,240351,9802,875555,095
Charge for year57,95071,8166,191135,957
At 29 April 24258,190423,7969,066691,052
Net book value
At 29 April 241,209,795423,29620,7131,653,804
At 29 April 231,245,745369,39424,5701,639,709
4.Stocks
Stock is made up of livestock £702,830 (2023: £895,606) and deadstock £131,725 (2023: £132,727).

2024

2023

££
Other stocks834,5551,028,333
Total834,5551,028,333
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables131,18381,077
Other debtors91,95627,660
Prepayments and accrued income1,3791,345
Total224,518110,082
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables276,670345,867
Taxation and social security497,309169,020
Finance lease and HP contracts18,341-
Other creditors39,726311,527
Accrued liabilities and deferred income5,4515,470
Total837,497831,884
Finance lease and Hire Purchase contracts are secured against the assets to which they relate.
7.Creditors: amounts due after one year

2024

2023

££
Other creditors33,625-
Total33,625-
Finance lease and Hire Purchase contracts amounting to £33,625 (2023 - nil) are included within other creditors and they are secured against the assets to which they relate.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)412,900409,200
Total412,900409,200
9.Related party transactions
During the year ended 30 April 2024 the Company paid £40,800 (2023: £20,800) to A R & J E Sanderson for the use of property. At the year end the Company was owed £58,975 (2023: £128,811 creditor) from Messrs A R and J E Sanderson, a business in which Mr J E sanderson is a partner. During the year the company paid dividends of £72,140 (2023: £84,140) to shareholders. During the year the company paid Director pension contributions totaling £120,000 (2023: £120,000). Included in other creditors are loans from the directors. The loans are interest free with no set terms for repayment.
10.Further information regarding the company's financial position
In respect of these Financial Statements the comparative income statement has had £3,044 moved from administrative expenses to distribution costs, £1 moved from other operating income to administrative expenses and £685 moved from administrative expenses to interest payable, these reclassifications have not affected the reported profit position which remains the same.