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Company Registration No. 07372584 (England and Wales)
Howard Morley & Sons Limited Unaudited accounts for the year ended 30 September 2024
Howard Morley & Sons Limited Unaudited accounts Contents
Page
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Howard Morley & Sons Limited Company Information for the year ended 30 September 2024
Directors
N Charnock E Charnock
Company Number
07372584 (England and Wales)
Registered Office
276 High Street Guildford Surrey GU1 3JL United Kingdom
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Howard Morley & Sons Limited Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
280,000 
Tangible assets
11,911 
1,845 
11,911 
281,845 
Current assets
Debtors
364,659 
22,259 
Cash at bank and in hand
36,315 
57,619 
400,974 
79,878 
Creditors: amounts falling due within one year
(174,353)
(126,982)
Net current assets/(liabilities)
226,621 
(47,104)
Net assets
238,532 
234,741 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
238,531 
234,740 
Shareholders' funds
238,532 
234,741 
For the year ending 30 September 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by
N Charnock Director Company Registration No. 07372584
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Howard Morley & Sons Limited Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
Howard Morley & Sons Limited is a private company, limited by shares, registered in England and Wales, registration number 07372584. The registered office is 276 High Street, Guildford, Surrey, GU1 3JL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents fees receivable in respect of letting and management services. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is being amortised evenly over its estimated useful life of twenty years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Computer equipment
25% straight line
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Howard Morley & Sons Limited Notes to the Accounts for the year ended 30 September 2024
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements: Determine whether there are indicators of impairment of the company's intangible and tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Determine whether leases are entered into by the company as a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. Other key sources of estimation uncertainty: Tangible fixed assets (note 5) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 October 2023
800,000 
Disposals
(800,000)
At 30 September 2024
- 
Amortisation
At 1 October 2023
520,000 
On disposals
(520,000)
At 30 September 2024
- 
Net book value
At 30 September 2024
- 
At 30 September 2023
280,000 
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Howard Morley & Sons Limited Notes to the Accounts for the year ended 30 September 2024
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 October 2023
17,763 
Additions
14,083 
At 30 September 2024
31,846 
Depreciation
At 1 October 2023
15,918 
Charge for the year
4,017 
At 30 September 2024
19,935 
Net book value
At 30 September 2024
11,911 
At 30 September 2023
1,845 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
55,652 
- 
Amounts due from group undertakings etc.
287,945 
- 
Accrued income and prepayments
19,895 
22,259 
Other debtors
1,167 
- 
364,659 
22,259 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
42,869 
29,439 
Trade creditors
19,449 
11,858 
Amounts owed to group undertakings and other participating interests
- 
10,250 
Taxes and social security
28,922 
24,500 
Other creditors
3,113 
256 
Accruals
80,000 
50,679 
174,353 
126,982 
8
Operating lease commitments
2024 
2023 
£ 
£ 
At 30 September 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
52,000 
52,000 
Later than one year and not later than five years
143,000 
195,000 
195,000 
247,000 
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Howard Morley & Sons Limited Notes to the Accounts for the year ended 30 September 2024
9
Transactions with related parties
The company has taken advantage of the exemption available in Section 33.1A of FRS 102 not to disclose transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
10
Controlling party
The immediate parent and controlling party of the company is HMS23 Ltd.
11
Average number of employees
During the year the average number of employees was 7 (2023: 5).
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