Mortimer Childe Ltd 8885617 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is Contractor Employment Services Digita Accounts Production Advanced 6.30.9574.0 true true true true 8885617 2023-10-01 2024-09-30 8885617 2024-09-30 8885617 bus:Director2 2024-09-30 8885617 bus:OrdinaryShareClass1 2024-09-30 8885617 core:RetainedEarningsAccumulatedLosses 2024-09-30 8885617 core:ShareCapital 2024-09-30 8885617 core:CurrentFinancialInstruments 2024-09-30 8885617 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 8885617 core:CurrentFinancialInstruments core:WithinOneYear 2 2024-09-30 8885617 core:FurnitureFittingsToolsEquipment 2024-09-30 8885617 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-09-30 8885617 bus:FRS102 2023-10-01 2024-09-30 8885617 bus:Audited 2023-10-01 2024-09-30 8885617 bus:FullAccounts 2023-10-01 2024-09-30 8885617 bus:RegisteredOffice 2023-10-01 2024-09-30 8885617 bus:Director1 2023-10-01 2024-09-30 8885617 bus:Director2 2023-10-01 2024-09-30 8885617 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 8885617 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 8885617 bus:Agent1 2023-10-01 2024-09-30 8885617 core:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 8885617 core:ShareCapital 2023-10-01 2024-09-30 8885617 core:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-10-01 2024-09-30 8885617 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 8885617 core:OfficeEquipment 2023-10-01 2024-09-30 8885617 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 8885617 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-10-01 2024-09-30 8885617 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:Leases 2023-10-01 2024-09-30 8885617 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2023-10-01 2024-09-30 8885617 core:UKTax 2023-10-01 2024-09-30 8885617 1 2023-10-01 2024-09-30 8885617 countries:EnglandWales 2023-10-01 2024-09-30 8885617 2023-09-30 8885617 core:RetainedEarningsAccumulatedLosses 2023-09-30 8885617 core:ShareCapital 2023-09-30 8885617 core:FurnitureFittingsToolsEquipment 2023-09-30 8885617 2022-05-01 2023-09-30 8885617 2023-09-30 8885617 bus:OrdinaryShareClass1 2023-09-30 8885617 core:CurrentFinancialInstruments 2023-09-30 8885617 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 8885617 core:CurrentFinancialInstruments core:WithinOneYear 2 2023-09-30 8885617 core:FurnitureFittingsToolsEquipment 2023-09-30 8885617 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-09-30 8885617 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-09-30 8885617 core:ShareCapital 2022-05-01 2023-09-30 8885617 core:PlantEquipmentOtherAssetsUnderOperatingLeases 2022-05-01 2023-09-30 8885617 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-05-01 2023-09-30 8885617 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:Leases 2022-05-01 2023-09-30 8885617 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2022-05-01 2023-09-30 8885617 core:UKTax 2022-05-01 2023-09-30 8885617 2022-04-30 8885617 core:RetainedEarningsAccumulatedLosses 2022-04-30 8885617 core:ShareCapital 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 8885617

Mortimer Childe Ltd

Annual Report and Financial Statements

for the Year Ended 30 September 2024

 

Mortimer Childe Ltd

Contents

Company Information

1

Strategic Report

2

Directors' Report

3

Statement of Directors' Responsibilities

4

Independent Auditor's Report

5 to 8

Profit and Loss Account

9

Balance Sheet

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Financial Statements

13 to 21

 

Mortimer Childe Ltd

Company Information

Directors

Mrs Linda Margaret Brazier

Sam Pelster

Registered office

53 High Street
Cleobury Mortimer
Kidderminster
Worcestershire
DY14 8DQ

Auditors

R J Francis & Co Suites 1 & 2 Marshall Business Centre,
Faraday Road,
Hereford,
HR4 9NS

 

Mortimer Childe Ltd

Strategic Report for the Year Ended 30 September 2024

The directors present their strategic report for the year ended 30 September 2024.

Principal activity

The principal activity of the company is Contractor Employment Services

Fair review of the business

The turnover of the company has decreased significantly in the current year directly as a result of the loss of one customer, however this has led to an increase in the gross margin achieved as this customer was a high turnover/low margin generator.

The cost base for the company has reduced on a pro-rata basis, this mainly owing to the lower turnover and lower resources needed to support this. There was also some expenditure in the year incurred to support future operations of the company.

The outlook for 2025 is positive despite the general economic climate and ongoing uncertainties due to Brexit and the lasting effects of the COVID-19 pandemic.

The company has invested in business development in the current year which it expects to result in higher turnover and overall profitability.

The main KPIs which the business uses to monitor performance is turnover and gross margin acheived. For both of these measures in the year the business considers the results to be satisfactory.

Principal risks and uncertainties

The principal risks and uncertainties which the director considers to affect the business are as follows:

- Downturns in the UK and global economic climate
- Government policy with regards to IR35 regulations

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 

.........................................
Mrs Linda Margaret Brazier
Director

 

Mortimer Childe Ltd

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Director of the company

The director who held office during the year was as follows:

Mrs Linda Margaret Brazier

The following director was appointed after the year end:

Sam Pelster (appointed 2 June 2025)

Objectives and policies

The principal financial instruments of the company comprise bank balances, trade debtors and external financial liabilities to HMRC (PAYE/NI and VAT).

In respect of bank balances, these are monitored daily to ensure adequate cash flow to settle liabilities as they fall due. The nature of the business operations means that cash is not paid out on trading activities until the relevant income is received which reduces the risk.

Price risk, credit risk, liquidity risk and cash flow risk

Trade debtors are managed in respect of credit and cash flow risk by providing credit to customers based on credit checks and regular monitoring of amounts outstanding by reference to ageing. As mentioned the cash outflow in respect of cost of sale is not crystalised until cash is received in and hence the risk is reduced.

The PAYE/NI and VAT risk is managed by ensuring adequate funds are available to meet amounts falling due.

Future developments

The director plans to continue the development of the business in the future through identifying new opportunities to grow the turnover, together with monitoring margins acheived and reducing overhead cost where possible.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 

.........................................
Mrs Linda Margaret Brazier
Director

 

Mortimer Childe Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Mortimer Childe Ltd

Independent Auditor's Report to the Members of Mortimer Childe Ltd

Opinion

We have audited the financial statements of Mortimer Childe Ltd (the 'company') for the year ended 30 September 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Mortimer Childe Ltd

Independent Auditor's Report to the Members of Mortimer Childe Ltd

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

 

Mortimer Childe Ltd

Independent Auditor's Report to the Members of Mortimer Childe Ltd

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The engagement partner ensured that the audit team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

We identified the laws and regulations applicable to the Company through discussions with Directors and other management and from our commercial knowledge and experience of this business sector.

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the Company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud.

Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls we:

Performed analytical procedures to identify any unusual or unexpected relationships.

Assessed whether judgments and assumptions made in determining accounting estimates included in the Accounts were indicative of potential bias.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiring of the Directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error, as they may involve deliberate concealment or collusion

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

 

Mortimer Childe Ltd

Independent Auditor's Report to the Members of Mortimer Childe Ltd

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
A A Houston (Senior Statutory Auditor)
For and on behalf of R J Francis & Co, Statutory Auditor
 Suites 1 & 2 Marshall Business Centre,
Faraday Road,
Hereford,
HR4 9NS

26 June 2025

 

Mortimer Childe Ltd

Profit and Loss Account for the Year Ended 30 September 2024

Note

2024
£

2023
£

Turnover

3

25,498,813

55,848,241

Cost of sales

 

(25,238,758)

(55,364,911)

Gross profit

 

260,055

483,330

Administrative expenses

 

(311,902)

(583,751)

Operating loss

4

(51,847)

(100,421)

Other interest receivable and similar income

5

51,931

70,399

Interest payable and similar expenses

6

(66)

(28)

   

51,865

70,371

Profit/(loss) before tax

 

18

(30,050)

Profit/(loss) for the financial year

 

18

(30,050)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Mortimer Childe Ltd

(Registration number: 8885617)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

11

8,306

13,042

Current assets

 

Debtors

12

1,214,799

1,958,643

Cash at bank and in hand

 

1,438,907

1,865,420

 

2,653,706

3,824,063

Creditors: Amounts falling due within one year

14

(2,635,165)

(3,810,276)

Net current assets

 

18,541

13,787

Net assets

 

26,847

26,829

Capital and reserves

 

Called up share capital

100

100

Retained earnings

26,747

26,729

Shareholders' funds

 

26,847

26,829

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 

.........................................
Mrs Linda Margaret Brazier
Director

 

Mortimer Childe Ltd

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Retained earnings
£

Total
£

At 1 October 2023

100

26,729

26,829

Profit for the year

-

18

18

At 30 September 2024

100

26,747

26,847

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

100

56,779

56,879

Loss for the year

-

(30,050)

(30,050)

At 30 September 2023

100

26,729

26,829

 

Mortimer Childe Ltd

Statement of Cash Flows for the Year Ended 30 September 2024

Note

2024
£

2023
£

Cash flows from operating activities

Profit/(loss) for the year

 

18

(30,050)

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

4

4,736

5,241

Finance income

5

(51,931)

(70,399)

Finance costs

6

66

28

 

(47,111)

(95,180)

Working capital adjustments

 

Decrease in trade debtors

12

744,118

971,936

Decrease in trade creditors

14

(1,175,111)

(1,113,659)

Cash generated from operations

 

(478,104)

(236,903)

Income taxes (paid)/received

10

(274)

10,834

Net cash flow from operating activities

 

(478,378)

(226,069)

Cash flows from investing activities

 

Interest received

5

51,931

70,399

Acquisitions of tangible assets

-

(5,883)

Net cash flows from investing activities

 

51,931

64,516

Cash flows from financing activities

 

Interest paid

6

(66)

(28)

Net decrease in cash and cash equivalents

 

(426,513)

(161,581)

Cash and cash equivalents at 1 October

 

1,865,420

2,027,001

Cash and cash equivalents at 30 September

 

1,438,907

1,865,420

 

Mortimer Childe Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
53 High Street
Cleobury Mortimer
Kidderminster
Worcestershire
DY14 8DQ
United Kingdom

These financial statements were authorised for issue by the Board on 26 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Key sources of estimation uncertainty

The director considers accrued income to be a key source of estimation uncertainty. This balance is material and
is key to the financial statements. The estimate is based on actual hours worked which are then billed to the end
client. As such the estimation element in this is reduced by the availability of factual information to support the
adjustment.

The director considers that accruals are a key source of estimation uncertainty. This balance is material and is
key to the financial statements. The estimate is based on actual costs when calculating the above accrued income
adjustment and is reviewed to ensure that it is materially correct based on the margin achieved on that income..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Mortimer Childe Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% straight line

Other Fixed Assets

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Mortimer Childe Ltd

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like cash, a debt instrument (such as accounts receivable and payable) and loans to related parties.

 Recognition and measurement
Basic financial instruments are initially accounted for at their transaction price except for financing transactions.
 

3

Turnover

The analysis of the company's revenue for the year from continuing operations is as follows:

Year ended 30 September 2024
 £

1 May 2022 to 30 September 2023
 £

Sale of goods

25,498,813

55,848,241

4

Operating loss

Arrived at after charging/(crediting)

Year ended 30 September 2024
 £

1 May 2022 to 30 September 2023
 £

Depreciation expense

4,736

5,241

Operating lease expense - plant and machinery

819

-

5

Other interest receivable and similar income

Year ended 30 September 2024
 £

1 May 2022 to 30 September 2023
 £

Interest income on bank deposits

49,981

70,106

Other finance income

1,950

293

51,931

70,399

 

Mortimer Childe Ltd

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

6

Interest payable and similar expenses

Year ended 30 September 2024
 £

1 May 2022 to 30 September 2023
 £

Interest expense on other finance liabilities

66

28

 

Mortimer Childe Ltd

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

7

Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

Year ended 30 September 2024
 £

1 May 2022 to 30 September 2023
 £

Wages and salaries

22,442,100

49,270,862

Social security costs

2,702,196

6,044,168

Pension costs, defined contribution scheme

169,336

285,446

25,313,632

55,600,476

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

6

1

Other departments

257

365

263

366

 

Mortimer Childe Ltd

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

8

Directors' remuneration

The director's remuneration for the year was as follows:

Year ended 30 September 2024
 £

1 May 2022 to 30 September 2023
 £

Remuneration

12,000

17,000

9

Auditors' remuneration

Year ended 30 September 2024
 £

1 May 2022 to 30 September 2023
 £

Audit of the financial statements

3,640

3,500


 

10

Taxation

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of 0% (2023 - 19%).

The differences are reconciled below:

Year ended 30 September 2024
 £

1 May 2022 to 30 September 2023
 £

Profit/(loss) before tax

18

(30,050)

Corporation tax at standard rate

-

(5,710)

Effect of tax losses

-

5,710

Total tax charge/(credit)

-

-

 

Mortimer Childe Ltd

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

11

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

27,365

27,365

At 30 September 2024

27,365

27,365

Depreciation

At 1 October 2023

14,323

14,323

Charge for the year

4,736

4,736

At 30 September 2024

19,059

19,059

Carrying amount

At 30 September 2024

8,306

8,306

At 30 September 2023

13,042

13,042

12

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,195,436

1,931,930

Other debtors

 

3,788

8,014

Prepayments

 

8,321

11,719

Deferred tax assets

10

2,836

2,836

Income tax asset

10

4,418

4,144

   

1,214,799

1,958,643

13

Cash and cash equivalents

30 September 2024
 £

30 September 2023
 £

Cash at bank

1,438,907

1,865,420

 

Mortimer Childe Ltd

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

14

Creditors

Note

30 September 2024
 £

30 September 2023
 £

Due within one year

 

trade creditors

 

305,455

401,134

Social security and other taxes

 

1,404,626

1,854,964

Other payables

 

41,592

65,251

Accrued expenses

 

883,492

1,488,927

 

2,635,165

3,810,276

15

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £169,336 (2023 - £285,446).

16

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

17

Related party transactions

Summary of transactions with all entities with joint control or significant interest

Company Requirements Limited is a company controlled by Linda Brazier.
The transactions are conducted on an arms length basis and represent a recharge of expenditure incurred by Company Requirements Ltd.

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Amounts receivable from related party

-

 

Mortimer Childe Ltd

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

2023

Entities with joint control or significant influence
£

Amounts receivable from related party

18,710

Expenditure with and payables to related parties

2024

Entities with joint control or significant influence
£

Rendering of services

-

Leases

-

-

2023

Entities with joint control or significant influence
£

Rendering of services

440,750

Leases

35,000

475,750

18

Ultimate controlling party

The ultimate controlng party at the balance sheet date was Linda Brazier.