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Registered number: 01183700
Morrisby Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 01183700
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 474,055 -
Tangible Assets 5 30,360 25,966
504,415 25,966
CURRENT ASSETS
Debtors 6 343,292 381,344
Cash at bank and in hand 717,080 981,498
1,060,372 1,362,842
Creditors: Amounts Falling Due Within One Year 7 (768,198 ) (309,964 )
NET CURRENT ASSETS (LIABILITIES) 292,174 1,052,878
TOTAL ASSETS LESS CURRENT LIABILITIES 796,589 1,078,844
NET ASSETS 796,589 1,078,844
CAPITAL AND RESERVES
Called up share capital 8 9,849 9,849
Capital redemption reserve 201 201
Income Statement 786,539 1,068,794
SHAREHOLDERS' FUNDS 796,589 1,078,844
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Christopher Glennie
Director
23rd April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Morrisby Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01183700 . The registered office is Gaddesden Place, Great Gaddesden, Hemel Hempstead, HP2 6EX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with Section 1A of FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
2.2. Turnover
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 from the rendering of services.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Over five years
Computer Equipment Over five years
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 21)
25 21
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 -
Additions 503,421
As at 31 July 2024 503,421
Amortisation
As at 1 August 2023 -
Provided during the period 29,366
As at 31 July 2024 29,366
Net Book Value
As at 31 July 2024 474,055
As at 1 August 2023 -
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 3,982 28,649 32,631
Additions 974 11,020 11,994
As at 31 July 2024 4,956 39,669 44,625
Depreciation
As at 1 August 2023 1,363 5,302 6,665
Provided during the period 903 6,697 7,600
As at 31 July 2024 2,266 11,999 14,265
Net Book Value
As at 31 July 2024 2,690 27,670 30,360
As at 1 August 2023 2,619 23,347 25,966
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 214,578 273,200
Prepayments and accrued income 108,217 85,270
Corporation tax recoverable assets 20,497 22,874
343,292 381,344
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 39,349 34,547
Other taxes and social security 71,584 61,463
Other creditors 10,143 12,681
Deferred consideration 381,707 -
Accruals and deferred income 265,415 201,273
768,198 309,964
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 9,849 9,849
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 36,148 -
Later than one year and not later than five years 52,893 40,353
89,041 40,353
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Malcolm Morrisby - 75,368
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid - 85,686
12. Related Party Transactions
The company's employee ownership trust ("EOT") acquired shares in the company during the year and holds them in trust for the employees.  In the 2024 financial year,  £880 (2023: n/a) was gifted to the EOT from the company.
13. Controlling Party
The company's controlling party is Morrisby Trustees Ltd (incorporated in the UK) as a trustee for Morrisby Employee Ownership Trust by virtue of his ownership of 51% of the issued share capital in the company.
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