Company registration number 00652183 (England and Wales)
MORRELL & HARVEY ENGINEERING CO., LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
MORRELL & HARVEY ENGINEERING CO., LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MORRELL & HARVEY ENGINEERING CO., LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
38,749
39,627
Current assets
Debtors
4
88,775
80,076
Cash at bank and in hand
10,480
11,882
99,255
91,958
Creditors: amounts falling due within one year
5
(83,292)
(77,328)
Net current assets
15,963
14,630
Total assets less current liabilities
54,712
54,257
Creditors: amounts falling due after more than one year
6
(66,772)
(93,280)
Net liabilities
(12,060)
(39,023)
Capital and reserves
Called up share capital
7
20,000
20,000
Profit and loss reserves
(32,060)
(59,023)
Total equity
(12,060)
(39,023)

For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 June 2025 and are signed on its behalf by:
Mr J B Morrell
Director
Company registration number 00652183 (England and Wales)
MORRELL & HARVEY ENGINEERING CO., LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Morrell & Harvey Engineering Co., Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 - 3, Camphill Industrial Estate, Camphill Road, West Byfleet, Surrey, KT14 6EW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover represents amounts receivable for provision of facilities and management support services net of VAT and trade discounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
- straight line over the remaining term of the lease
Fixtures, fittings & equipment
- 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

MORRELL & HARVEY ENGINEERING CO., LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023
163,504
-
0
163,504
Additions
-
0
2,013
2,013
At 30 June 2024
163,504
2,013
165,517
Depreciation and impairment
At 1 July 2023
123,877
-
0
123,877
Depreciation charged in the year
2,760
131
2,891
At 30 June 2024
126,637
131
126,768
Carrying amount
At 30 June 2024
36,867
1,882
38,749
At 30 June 2023
39,627
-
0
39,627
MORRELL & HARVEY ENGINEERING CO., LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
3,556
Other debtors
88,775
76,520
88,775
80,076
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
26,508
24,634
Trade creditors
50,345
45,796
Taxation and social security
3,439
1,899
Other creditors
3,000
4,999
83,292
77,328

See note 6 for details of the bank loan security.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
66,772
93,280

The company has two bank loans repayable within 5 years.

A bounce bank loan of £6,863 at 30 June 2024 which is secured on the assets of the company and a further loan of £86,417 secured by assets owned by the directors personally.

7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
19,998 ordinary shares of £1 each
19,998
19,998
1 ordinary "A" shares of £1 each
1
1
1 ordinary "B" shares of £1 each
1
1
20,000
20,000
MORRELL & HARVEY ENGINEERING CO., LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
380,000
408,500

The lease commitment is £28,500 per annum until October 2037.

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