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REGISTERED NUMBER: 00563738 (England and Wales)














G. O. Morley & Company Limited

Unaudited Financial Statements

For The Year Ended 30 June 2024






G. O. Morley & Company Limited (Registered number: 00563738)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


G. O. Morley & Company Limited

Company Information
For The Year Ended 30 June 2024







DIRECTORS: P Morley
I Morley
Mrs B A Morley
Mrs S Morley



SECRETARY: Mrs S Morley



REGISTERED OFFICE: Hill Farm
Gransmoor
Driffield
East Yorkshire
YO25 8HY



REGISTERED NUMBER: 00563738 (England and Wales)



ACCOUNTANTS: Charles A. Wood & Co.
Chartered Accountants
15 Prospect Street
Bridlington
East Yorkshire
YO15 2AE



BANKERS: National Westminster Bank plc
60 Market Place
Beverley
East Yorkshire
HU17 8AH

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
G. O. Morley & 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 G. O. Morley & Company Limited for the year ended 30 June 2024 which comprise the Income Statement, Abridged 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 G. O. Morley & Company Limited, as a body, in accordance with the terms of our engagement letter dated 18 February 2022. Our work has been undertaken solely to prepare for your approval the financial statements of G. O. Morley & Company Limited and state those matters that we have agreed to state to the Board of Directors of G. O. Morley & 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 G. O. Morley & Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G. O. Morley & 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 profit of G. O. Morley & Company Limited. You consider that G. O. Morley & 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 G. O. Morley & 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.






Charles A. Wood & Co.
Chartered Accountants
15 Prospect Street
Bridlington
East Yorkshire
YO15 2AE


20 March 2025

G. O. Morley & Company Limited (Registered number: 00563738)

Abridged Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 769,062 786,528
Investment property 6 125,000 125,000
894,062 911,528

CURRENT ASSETS
Stocks 36,908 45,961
Debtors 6,239 5,568
Cash at bank and in hand 16,159 2,779
59,306 54,308
CREDITORS
Amounts falling due within one year 55,947 80,654
NET CURRENT ASSETS/(LIABILITIES) 3,359 (26,346 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

897,421

885,182

PROVISIONS FOR LIABILITIES 160,192 164,559
NET ASSETS 737,229 720,623

CAPITAL AND RESERVES
Called up share capital 6,421 6,421
Revaluation reserve 7 567,931 567,931
Retained earnings 162,877 146,271
SHAREHOLDERS' FUNDS 737,229 720,623

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.

G. O. Morley & Company Limited (Registered number: 00563738)

Abridged Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





I Morley - Director


G. O. Morley & Company Limited (Registered number: 00563738)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

G. O. Morley & Company 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 as modified by the revaluation of certain assets.

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

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.

Basic payment scheme is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold land and buildings - not provided
Assets in the course of construction - No depreciation (see below)
Plant and machinery - 10% on reducing balance
Tractors - 25% on reducing balance

Freehold land and buildings have not been depreciated. Any depreciation attributable to the buildings included within freehold land and buildings is not material.

No depreciation is provided until the assets under construction are completed and brought into use.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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


G. O. Morley & Company Limited (Registered number: 00563738)

Notes to the Financial Statements - continued
For The Year Ended 30 June 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023
and 30 June 2024 12,570
AMORTISATION
At 1 July 2023
and 30 June 2024 12,570
NET BOOK VALUE

At 30 June 2024 -
At 30 June 2023 -

G. O. Morley & Company Limited (Registered number: 00563738)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 July 2023 881,873
Additions 232
Disposals (245 )
At 30 June 2024 881,860
DEPRECIATION
At 1 July 2023 95,345
Charge for year 17,637
Eliminated on disposal (184 )
At 30 June 2024 112,798
NET BOOK VALUE
At 30 June 2024 769,062
At 30 June 2023 786,528

Cost or valuation at 30 June 2024 is represented by:

Totals
£   
Valuation in 2008 654,646
Cost 227,214
881,860

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 21,169 21,169

Value of land in freehold land and buildings 350,000 350,000

The freehold land and buildings were revalued in 2008. No revaluation has been carried out subsequently and this valuation has been treated as the deemed cost on the adoption of FRS102.

G. O. Morley & Company Limited (Registered number: 00563738)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST OR VALUATION
At 1 July 2023 69,000
Transfer to ownership (69,000 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 30,188
Transfer to ownership (30,188 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 38,812

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 125,000
NET BOOK VALUE
At 30 June 2024 125,000
At 30 June 2023 125,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2020 47,729
Cost 77,271
125,000

Investment property was valued on an open market basis on 30 June 2024 by I Morley (Director) .

7. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 567,931

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs I Morley.