IRIS Accounts Production v25.1.0.734 02727193 Board of Directors Board of Directors Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh027271932023-09-30027271932024-09-30027271932023-10-012024-09-30027271932022-09-30027271932022-10-012023-09-30027271932023-09-3002727193ns15:EnglandWales2023-10-012024-09-3002727193ns14:PoundSterling2023-10-012024-09-3002727193ns10:Director12023-10-012024-09-3002727193ns10:Director22023-10-012024-09-3002727193ns10:Director32023-10-012024-09-3002727193ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3002727193ns10:SmallEntities2023-10-012024-09-3002727193ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3002727193ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3002727193ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3002727193ns10:FullAccounts2023-10-012024-09-3002727193ns10:CompanySecretary12023-10-012024-09-3002727193ns10:RegisteredOffice2023-10-012024-09-3002727193ns5:CurrentFinancialInstruments2024-09-3002727193ns5:CurrentFinancialInstruments2023-09-3002727193ns5:Non-currentFinancialInstruments2024-09-3002727193ns5:Non-currentFinancialInstruments2023-09-3002727193ns5:ShareCapital2024-09-3002727193ns5:ShareCapital2023-09-3002727193ns5:RetainedEarningsAccumulatedLosses2024-09-3002727193ns5:RetainedEarningsAccumulatedLosses2023-09-3002727193ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-10-012024-09-3002727193ns5:FurnitureFittings2023-10-012024-09-3002727193ns5:MotorVehicles2023-10-012024-09-3002727193ns5:ComputerEquipment2023-10-012024-09-3002727193ns5:LandBuildings2023-09-3002727193ns5:FurnitureFittings2023-09-3002727193ns5:MotorVehicles2023-09-3002727193ns5:ComputerEquipment2023-09-3002727193ns5:LandBuildings2023-10-012024-09-3002727193ns5:LandBuildings2024-09-3002727193ns5:FurnitureFittings2024-09-3002727193ns5:MotorVehicles2024-09-3002727193ns5:ComputerEquipment2024-09-3002727193ns5:LandBuildings2023-09-3002727193ns5:FurnitureFittings2023-09-3002727193ns5:MotorVehicles2023-09-3002727193ns5:ComputerEquipment2023-09-3002727193ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3002727193ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3002727193ns5:WithinOneYear2024-09-3002727193ns5:WithinOneYear2023-09-3002727193ns5:BetweenOneFiveYears2024-09-3002727193ns5:BetweenOneFiveYears2023-09-3002727193ns5:MoreThanFiveYears2024-09-3002727193ns5:MoreThanFiveYears2023-09-3002727193ns5:AllPeriods2024-09-3002727193ns5:AllPeriods2023-09-3002727193ns5:Secured2024-09-3002727193ns5:Secured2023-09-30
REGISTERED NUMBER: 02727193 (England and Wales)















The Morton Partnership Limited

Unaudited Financial Statements

for the year ended

30 September 2024






The Morton Partnership Limited (Registered number: 02727193)

Contents of the Financial Statements
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


The Morton Partnership Limited

Company Information
for the year ended 30 September 2024







DIRECTORS: E J Morton
Mrs J Morton
I Miller





SECRETARY: Mrs J Morton





REGISTERED OFFICE: Brunel House
Norwich Road
Halesworth
Suffolk
IP19 8HX





REGISTERED NUMBER: 02727193 (England and Wales)

The Morton Partnership Limited (Registered number: 02727193)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,293,549 2,308,740

CURRENT ASSETS
Stocks 198,000 220,725
Debtors 5 409,797 397,369
Cash at bank 16,159 14,500
623,956 632,594
CREDITORS
Amounts falling due within one year 6 (620,910 ) (560,395 )
NET CURRENT ASSETS 3,046 72,199
TOTAL ASSETS LESS CURRENT LIABILITIES 2,296,595 2,380,939

CREDITORS
Amounts falling due after more than one year 7 (770,065 ) (877,043 )

PROVISIONS FOR LIABILITIES (166,030 ) (159,176 )
NET ASSETS 1,360,500 1,344,720

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 1,360,401 1,344,621
SHAREHOLDERS' FUNDS 1,360,500 1,344,720

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2025 and were signed on its behalf by:




I Miller - Director E J Morton - Director




Mrs J Morton - Director


The Morton Partnership Limited (Registered number: 02727193)

Notes to the Financial Statements
for the year ended 30 September 2024


1. STATUTORY INFORMATION

The Morton Partnership 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 1% on cost less residual value
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

The Morton Partnership Limited (Registered number: 02727193)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 October 2023 2,300,290 34,868 35,547 292,338 2,663,043
Additions - 736 - - 736
At 30 September 2024 2,300,290 35,604 35,547 292,338 2,663,779
DEPRECIATION
At 1 October 2023 44,338 28,633 34,421 246,911 354,303
Charge for year 7,089 1,742 282 6,814 15,927
At 30 September 2024 51,427 30,375 34,703 253,725 370,230
NET BOOK VALUE
At 30 September 2024 2,248,863 5,229 844 38,613 2,293,549
At 30 September 2023 2,255,952 6,235 1,126 45,427 2,308,740

Cost or valuation at 30 September 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2016 863,815 - - - 863,815
Cost 1,436,475 35,604 35,547 292,338 1,799,964
2,300,290 35,604 35,547 292,338 2,663,779

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

2024 2023
£    £   
Cost 1,436,475 1,436,475
Aggregate depreciation 173,684 167,465

Freehold land and buildings were valued on an open market basis on 30 September 2016 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 332,484 310,592
Other debtors 77,313 86,777
409,797 397,369

The Morton Partnership Limited (Registered number: 02727193)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 109,946 142,137
Trade creditors 219,383 154,479
Taxation and social security 200,456 247,949
Other creditors 91,125 15,830
620,910 560,395

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 770,065 877,043

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 589,166 635,492

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 25,871 25,664
Between one and five years 23,844 44,599
In more than five years - 1,948
49,715 72,211

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 2,656 38,581
Bank loans 877,355 980,599
880,011 1,019,180

The bank overdraft and loans are secured by a charge over the freehold property.