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Morris Granite & Marble Company Limited

Financial Statements for the Year Ended 31 August 2024






Morris Granite & Marble Company Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: R W Morris
A W Morris
A V Morris





SECRETARY: A V Morris





REGISTERED OFFICE: Colomendy Industrial Estate,
Denbigh
Denbighshire
LL16 5TA





REGISTERED NUMBER: 00553864 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Morris Granite & Marble Company Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morris Granite & Marble Company Limited for the year ended 31 August 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Morris Granite & Marble Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Morris Granite & Marble Company Limited and state those matters that we have agreed to state to the Board of Directors of Morris Granite & Marble Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morris Granite & Marble Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Morris Granite & Marble Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Morris Granite & Marble Company Limited. You consider that Morris Granite & Marble Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Morris Granite & Marble Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


6 March 2025

Morris Granite & Marble Company Limited (Registered number: 00553864)

Balance Sheet
31 August 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 287,375 310,976
287,375 310,976

CURRENT ASSETS
Stocks 132,850 131,910
Debtors 5 47,411 33,330
Cash at bank and in hand 276,475 308,597
456,736 473,837
CREDITORS
Amounts falling due within one year 6 72,766 87,692
NET CURRENT ASSETS 383,970 386,145
TOTAL ASSETS LESS CURRENT
LIABILITIES

671,345

697,121

PROVISIONS FOR LIABILITIES 19,100 19,000
NET ASSETS 652,245 678,121

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 651,245 677,121
SHAREHOLDERS' FUNDS 652,245 678,121

Morris Granite & Marble Company Limited (Registered number: 00553864)

Balance Sheet - continued
31 August 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 6 March 2025 and were signed on its behalf by:





R W Morris - Director


Morris Granite & Marble Company Limited (Registered number: 00553864)

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


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

Goodwill
Amortisation is calculated to write off the cost of an asset, less its residual value, over the useful life of that asset. The Goodwill in the accounts was amortised over 16 years on a straight line basis and was fully written down to nil at 31st August 2018 therefore the written down value at 31st August 2023 is nil.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses.

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

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.


Morris Granite & Marble Company Limited (Registered number: 00553864)

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


1. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

Morris Granite & Marble Company Limited (Registered number: 00553864)

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


3. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2023
and 31 August 2024 22,000
AMORTISATION
At 1 September 2023
and 31 August 2024 22,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 September 2023 302,307 756,507 98,469 92,522 1,249,805
Additions - - 11,975 - 11,975
Disposals - - - (11,995 ) (11,995 )
At 31 August 2024 302,307 756,507 110,444 80,527 1,249,785
DEPRECIATION
At 1 September 2023 103,439 656,830 94,888 83,672 938,829
Charge for year 2,955 24,919 3,889 1,678 33,441
Eliminated on disposal - - - (9,860 ) (9,860 )
At 31 August 2024 106,394 681,749 98,777 75,490 962,410
NET BOOK VALUE
At 31 August 2024 195,913 74,758 11,667 5,037 287,375
At 31 August 2023 198,868 99,677 3,581 8,850 310,976

Morris Granite & Marble Company Limited (Registered number: 00553864)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 35,159 23,226
Other debtors & prepayments 12,252 10,104
47,411 33,330

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 43,328 19,079
Taxes & social security costs 9,990 16,697
Other creditors & accruals 19,448 51,916
72,766 87,692

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Other loans - 27,501

Secured debts are made up of £0 (2023 £27,501) included in other creditors due within one year. It relates to a loan used to purchase machinery which was fully repaid in 2024 Year.

8. ULTIMATE CONTROLLING PARTY

The controlling party is R W Morris.