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REGISTERED NUMBER: 03530180 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 August 2024

for

Morley Glass & Glazing Limited

Morley Glass & Glazing Limited (Registered number: 03530180)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


Morley Glass & Glazing Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: I A Short
K O Murphy





SECRETARY: J K Short





REGISTERED OFFICE: Unit 3
Leeds 27 Industrial Estate
Bruntcliffe Way
Leeds
West Yorkshire
LS27 0HH





REGISTERED NUMBER: 03530180 (England and Wales)





AUDITORS: Malcolm Jones & Co Limited
Statutory Auditors
Accountants and Business Advisers
West Hill House
Allerton Hill
Chapel Allerton
Leeds
West Yorkshire
LS7 3QB

Morley Glass & Glazing Limited (Registered number: 03530180)

Strategic Report
for the Year Ended 31 August 2024

The directors present their strategic report for the year ended 31 August 2024.

REVIEW OF BUSINESS
2023/24 proved to be a challenging year for manufacturing, not least because of the uncertainty and volatility caused in the wider economy in the run up to the UK General Election. Stagnant growth across all sectors made it difficult to increase turnover but we are satisfied that we saw only a minimal reduction in turnover for the period.

PRINCIPAL RISKS AND UNCERTAINTIES
We remain proud of our financial stability and our strong liquidity position. We continue to face uncertainties around our Foreign Exchange requirements as sterling continues to face pressure on the world markets.

KEY PERFORMANCE INDICATORS
Concentration on investment in our motor fleet over the last Financial Year has enabled us to increase our dispatch workforce and offer a more streamlined service to our customer base.

Collaboration with our main supplier and their R&D Department will continue to ensure that we are able to remain as market leader within our sector.

FUTURE DEVELOPMENTS
We are hopeful that the coming financial year will see stability return to the economy alongside more favourable conditions in the manufacturing sector. Our presence at the major biennial trade show for our industry in 2025 will maximise exposure of our product lines to our core target market.

ON BEHALF OF THE BOARD:





I A Short - Director


24 January 2025

Morley Glass & Glazing Limited (Registered number: 03530180)

Report of the Directors
for the Year Ended 31 August 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

DIVIDENDS
An interim dividend of £12,244.90 per share was paid on 31 August 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 August 2024 will be £ 1,224,490 .

FUTURE DEVELOPMENTS
Likely future developments are discussed in the strategic report.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

I A Short
K O Murphy

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





I A Short - Director


24 January 2025

Report of the Independent Auditors to the Members of
Morley Glass & Glazing Limited

Opinion
We have audited the financial statements of Morley Glass & Glazing Limited (the 'company') for the year ended 31 August 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Morley Glass & Glazing Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional scepticism throughout the audit.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework within which the company operates, focusing on those laws and regulations that directly effects how material balances are determined and also the disclosures in the financial statements. The laws and regulations considered by us in this context were the Companies Act 2006 and various taxation legislation.

We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be revenue and cost recognition and override of controls by management. Our audit procedures to respond to revenue and cost recognition risks included sample testing a sample of income/costs across the year to agree to supporting documentation and reviewing income and costs either side of the year end to ensure they have been recognised correctly. Our audit procedures to respond to management override risks included enquiries of management about their own identification and an assessment of the risks of irregularities, reviewing the posting of journals and reviewing the accounting estimates for bias.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Morley Glass & Glazing Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Andrew Wilkinson (Senior Statutory Auditor)
for and on behalf of Malcolm Jones & Co Limited
Statutory Auditors
Accountants and Business Advisers
West Hill House
Allerton Hill
Chapel Allerton
Leeds
West Yorkshire
LS7 3QB

24 January 2025

Morley Glass & Glazing Limited (Registered number: 03530180)

Statement of Comprehensive
Income
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 27,184,809 29,508,561

Cost of sales 21,820,092 24,122,994
GROSS PROFIT 5,364,717 5,385,567

Administrative expenses 3,819,437 3,737,905
OPERATING PROFIT 4 1,545,280 1,647,662

Interest receivable and similar income 137,599 28,090
1,682,879 1,675,752

Interest payable and similar expenses 5 1,041 -
PROFIT BEFORE TAXATION 1,681,838 1,675,752

Tax on profit 6 219,322 200,161
PROFIT FOR THE FINANCIAL YEAR 1,462,516 1,475,591

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,462,516

1,475,591

Morley Glass & Glazing Limited (Registered number: 03530180)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 752,808 846,312

CURRENT ASSETS
Stocks 9 2,748,188 3,055,243
Debtors 10 2,549,040 2,429,078
Cash at bank and in hand 6,220,482 7,112,277
11,517,710 12,596,598
CREDITORS
Amounts falling due within one year 11 5,326,974 6,702,930
NET CURRENT ASSETS 6,190,736 5,893,668
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,943,544

6,739,980

CREDITORS
Amounts falling due after more than one
year

12

(97,076

)

(115,366

)

PROVISIONS FOR LIABILITIES 14 (142,160 ) (158,332 )
NET ASSETS 6,704,308 6,466,282

CAPITAL AND RESERVES
Called up share capital 15 100 100
Retained earnings 16 6,704,208 6,466,182
SHAREHOLDERS' FUNDS 6,704,308 6,466,282

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





I A Short - Director


Morley Glass & Glazing Limited (Registered number: 03530180)

Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 100 6,521,203 6,521,303

Changes in equity
Dividends - (1,530,612 ) (1,530,612 )
Total comprehensive income - 1,475,591 1,475,591
Balance at 31 August 2023 100 6,466,182 6,466,282

Changes in equity
Dividends - (1,224,490 ) (1,224,490 )
Total comprehensive income - 1,462,516 1,462,516
Balance at 31 August 2024 100 6,704,208 6,704,308

Morley Glass & Glazing Limited (Registered number: 03530180)

Cash Flow Statement
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 972,612 3,132,323
Interest paid (1,041 ) -
Tax paid (382,080 ) (583,919 )
Net cash from operating activities 589,491 2,548,404

Cash flows from investing activities
Purchase of tangible fixed assets (242,607 ) (340,480 )
Sale of tangible fixed assets 4,334 6,767
Interest received 137,599 28,090
Net cash from investing activities (100,674 ) (305,623 )

Cash flows from financing activities
Amount introduced by directors 624,490 780,612
Amount withdrawn by directors (780,612 ) (520,408 )
Equity dividends paid (1,224,490 ) (1,530,612 )
Net cash from financing activities (1,380,612 ) (1,270,408 )

(Decrease)/increase in cash and cash equivalents (891,795 ) 972,373
Cash and cash equivalents at beginning of
year

2

7,112,277

6,139,904

Cash and cash equivalents at end of year 2 6,220,482 7,112,277

Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Cash Flow Statement
for the Year Ended 31 August 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.8.24 31.8.23
£    £   
Profit before taxation 1,681,838 1,675,752
Depreciation charges 330,714 299,041
Loss/(profit) on disposal of fixed assets 1,066 (6,767 )
Finance costs 1,041 -
Finance income (137,599 ) (28,090 )
1,877,060 1,939,936
Decrease in stocks 307,055 800,921
Decrease/(increase) in trade and other debtors 107,578 (373,088 )
(Decrease)/increase in trade and other creditors (1,319,081 ) 764,554
Cash generated from operations 972,612 3,132,323

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 August 2024
31.8.24 1.9.23
£    £   
Cash and cash equivalents 6,220,482 7,112,277
Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 7,112,277 6,139,904


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.23 Cash flow At 31.8.24
£    £    £   
Net cash
Cash at bank and in hand 7,112,277 (891,795 ) 6,220,482
7,112,277 (891,795 ) 6,220,482
Total 7,112,277 (891,795 ) 6,220,482

Morley Glass & Glazing Limited (Registered number: 03530180)

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

1. STATUTORY INFORMATION

Morley Glass & Glazing 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable for goods and services provided, net of value added tax.

Revenue from the sale of goods is normally recognised on dispatch of goods. This is the point when the significant risks and rewards of ownership are passed to the customer, the amount of revenue can be reliably measured, it is probable that economic benefits associated with the transaction will flow to the entity and that costs incurred can be measured reliably.

Revenue from contracts where there is a provision of services involved, is recognised on completion of a contract or, where a contract can be split into definable parts, when each part is fully completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the term of the lease
Plant and machinery - 15% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Stocks and work-in-progress
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 Comprehensive Income, 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.


Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

The benefits of lease incentives connected with property leases are recognised in the Statement of Comprehensive Income over the term of the leases.

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
31.8.24 31.8.23
£    £   
Wages and salaries 3,415,389 3,431,591
Social security costs 338,864 333,180
Other pension costs 105,758 108,782
3,860,011 3,873,553

The average number of employees during the year was as follows:
31.8.24 31.8.23

Directors 2 2
Production 72 79
Administration 21 22
95 103

31.8.24 31.8.23
£    £   
Directors' remuneration 245,436 205,047
Directors' pension contributions to money purchase schemes 42,380 30,183

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Morley Glass & Glazing Limited (Registered number: 03530180)

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

3. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
31.8.24 31.8.23
£    £   
Emoluments etc 147,643 155,506
Pension contributions to money purchase schemes 4,000 3,999

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.8.24 31.8.23
£    £   
Hire of plant and machinery 6,090 4,306
Other operating leases 272,164 263,249
Depreciation - owned assets 330,711 299,041
Loss/(profit) on disposal of fixed assets 1,066 (6,767 )
Auditors' remuneration 9,725 9,525

The company's auditors were also paid £6,713 (2023 - £7,433) for tax advisory and other services, other than auditing of the company's accounts.

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.8.24 31.8.23
£    £   
Other interest 1,041 -

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.8.24 31.8.23
£    £   
Current tax:
UK corporation tax 438,367 337,989
Prior year tax (202,873 ) (191,051 )
Total current tax 235,494 146,938

Deferred tax (16,172 ) 53,223
Tax on profit 219,322 200,161

UK corporation tax has been charged at 25% (2023 - 21.42%).

Morley Glass & Glazing Limited (Registered number: 03530180)

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

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.8.24 31.8.23
£    £   
Profit before tax 1,681,838 1,675,752
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

420,460

418,938

Effects of:
Expenses not deductible for tax purposes 1,735 2,261
Depreciation in excess of capital allowances - 22,259
Adjustments to tax charge in respect of previous periods (202,873 ) (191,051 )
Pension provision - 2,500
Change in tax rate - (54,746 )
Total tax charge 219,322 200,161

7. DIVIDENDS
31.8.24 31.8.23
£    £   
Ordinary shares of £1 each
Interim 1,224,490 1,530,612

8. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 September 2023 216,433 1,467,626 250,834
Additions - - 6,845
Disposals - - -
At 31 August 2024 216,433 1,467,626 257,679
DEPRECIATION
At 1 September 2023 104,882 1,049,247 208,229
Charge for year 15,935 122,304 15,511
Eliminated on disposal - - -
At 31 August 2024 120,817 1,171,551 223,740
NET BOOK VALUE
At 31 August 2024 95,616 296,075 33,939
At 31 August 2023 111,551 418,379 42,605

Morley Glass & Glazing Limited (Registered number: 03530180)

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

8. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 665,493 48,854 2,649,240
Additions 235,762 - 242,607
Disposals (153,145 ) - (153,145 )
At 31 August 2024 748,110 48,854 2,738,702
DEPRECIATION
At 1 September 2023 414,316 26,254 1,802,928
Charge for year 171,311 5,650 330,711
Eliminated on disposal (147,745 ) - (147,745 )
At 31 August 2024 437,882 31,904 1,985,894
NET BOOK VALUE
At 31 August 2024 310,228 16,950 752,808
At 31 August 2023 251,177 22,600 846,312

9. STOCKS
31.8.24 31.8.23
£    £   
Stocks 2,312,378 2,454,660
Work-in-progress 435,810 600,583
2,748,188 3,055,243

10. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors 2,010,098 2,110,231
Other debtors 1,025 2,865
Tax 418,593 191,051
Prepayments 63,558 69,165
2,493,274 2,373,312

Amounts falling due after more than one year:
Other debtors 55,766 55,766

Aggregate amounts 2,549,040 2,429,078

Morley Glass & Glazing Limited (Registered number: 03530180)

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

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 2,370,732 3,422,637
Corporation tax 242,000 161,043
Social security and other taxes 603,728 689,692
Other creditors 1,190,322 1,352,709
Directors' current accounts 624,490 780,612
Accrued expenses 295,702 296,237
5,326,974 6,702,930

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Accruals and deferred income 97,076 115,366

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 295,485 293,143
Between one and five years 262,948 441,798
558,433 734,941

14. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax
Accelerated capital allowances 142,160 158,332

Deferred
tax
£   
Balance at 1 September 2023 158,332
Credit to Statement of Comprehensive Income during year (16,172 )
Balance at 31 August 2024 142,160

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

Morley Glass & Glazing Limited (Registered number: 03530180)

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

16. RESERVES
Retained
earnings
£   

At 1 September 2023 6,466,182
Profit for the year 1,462,516
Dividends (1,224,490 )
At 31 August 2024 6,704,208

17. RELATED PARTY DISCLOSURES

Disclosures re members of Key Management Personnel:

Dividends to Key Management Personnel - £624,490 (2023 - £780,612).

Balances with Key Management Personnel: Creditors - £624,490 (2023 - £780,612).