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REGISTERED NUMBER: 01113118 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Morleys Derby Limited

Morleys Derby Limited (Registered number: 01113118)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Morleys Derby Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: D Clarke
Mrs C L Clarke
P D Clarke
C J Clarke
R E Clarke





SECRETARY: Mrs C L Clarke





REGISTERED OFFICE: 250 Osmaston Road
Derby
DE23 8LB





REGISTERED NUMBER: 01113118 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Morleys Derby Limited (Registered number: 01113118)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 77,777 58,560

CURRENT ASSETS
Stocks 867,417 803,609
Debtors 5 478,756 774,399
Cash at bank 307,759 204,021
1,653,932 1,782,029
CREDITORS
Amounts falling due within one year 6 935,169 980,589
NET CURRENT ASSETS 718,763 801,440
TOTAL ASSETS LESS CURRENT
LIABILITIES

796,540

860,000

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 791,540 855,000
SHAREHOLDERS' FUNDS 796,540 860,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





D Clarke - Director


Morleys Derby Limited (Registered number: 01113118)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Morleys Derby 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
Turnover represents net invoiced sales of goods during the year, excluding value added tax. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the agreed upon payment will be received.

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 - 10% on reducing balance
Fixtures, fittings and equipment - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow and obsolete items.

Cost represents the invoiced cost of materials on a first in first out basis.

Net realisable value is based on the estimated selling price less further costs expected to be incurred upon completion.

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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account as incurred.

Pension costs and other post-retirement benefits
The company operates a self administered scheme for its directors. It is a defined contribution scheme and contributions payable to the scheme are charged to profit or loss in the period to which they relate.

The company also operates a defined contribution pension scheme for its employees. Contributions payable to the scheme are charged to profit or loss in the period to which they relate.

Grants
Revenue grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute. Capital grants are recognised systematically in the profit and loss account over the useful economic life of the asset to which the grant relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

Morleys Derby Limited (Registered number: 01113118)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 July 2023 22,807 130,845 177,429 331,081
Additions - 5,050 29,583 34,633
At 30 June 2024 22,807 135,895 207,012 365,714
DEPRECIATION
At 1 July 2023 17,957 88,194 166,370 272,521
Charge for year 485 4,770 10,161 15,416
At 30 June 2024 18,442 92,964 176,531 287,937
NET BOOK VALUE
At 30 June 2024 4,365 42,931 30,481 77,777
At 30 June 2023 4,850 42,651 11,059 58,560

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 420,803 670,426
Provision for bad debts - 4,079
Other debtors 25,071 24,942
Tax - 44,664
Prepayments 32,049 30,288
477,923 774,399

Amounts falling due after more than one year:
Other debtors 833 -

Aggregate amounts 478,756 774,399

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 777,596 799,357
Tax 94,999 96,349
Social security and other taxes 36,964 56,253
Other creditors 1,477 5,146
Directors' current accounts 13,552 11,547
Accrued expenses 10,581 11,937
935,169 980,589

Morleys Derby Limited (Registered number: 01113118)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. LEASING AGREEMENTS

The minimum lease payments or non-cancellable operating leases committed to be paid are £132,500 (2023 - £185,500).