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Registered number: 11664745
Morton Sporting Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
TaxAssist Accountants Durham
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11664745
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 37,100 46,900
Tangible Assets 5 123,096 75,004
160,196 121,904
CURRENT ASSETS
Debtors 6 63,814 242,440
Cash at bank and in hand 87,784 86,098
151,598 328,538
Creditors: Amounts Falling Due Within One Year 7 (24,989 ) (176,148 )
NET CURRENT ASSETS (LIABILITIES) 126,609 152,390
TOTAL ASSETS LESS CURRENT LIABILITIES 286,805 274,294
Creditors: Amounts Falling Due After More Than One Year 8 (14,991 ) (14,991 )
NET ASSETS 271,814 259,303
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 271,804 259,293
SHAREHOLDERS' FUNDS 271,814 259,303
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For the year ending 31 January 2025 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 Profit and Loss Account.
On behalf of the board
Mr Adam Morton
Director
1 May 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Morton Sporting Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11664745 . The registered office is Sundial House, Plawsworth, Chester Le Street, Durham, DH2 3LD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 profit and loss account 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:
Freehold SL 10%
Plant & Machinery RB 20%
Motor Vehicles RB20%
Fixtures & Fittings RB 20%
Computer Equipment SL 25%
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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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 years 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 assets reflect 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 1)
2 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2024 98,000
As at 31 January 2025 98,000
Amortisation
As at 1 February 2024 51,100
Provided during the period 9,800
As at 31 January 2025 60,900
Net Book Value
As at 31 January 2025 37,100
As at 1 February 2024 46,900
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2024 35,863 80,684 4,445 3,691 124,683
Additions 1,325 73,125 - 3,747 78,197
As at 31 January 2025 37,188 153,809 4,445 7,438 202,880
...CONTINUED
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Depreciation
As at 1 February 2024 16,103 26,886 2,197 4,493 49,679
Provided during the period 4,217 25,384 449 55 30,105
As at 31 January 2025 20,320 52,270 2,646 4,548 79,784
Net Book Value
As at 31 January 2025 16,868 101,539 1,799 2,890 123,096
As at 1 February 2024 19,760 53,798 2,248 (802 ) 75,004
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 56,219 159,088
Other debtors 7,595 81,072
63,814 240,160
Due after more than one year
Other debtors - 2,280
63,814 242,440
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 426 561
Trade creditors 3,500 100,494
Bank loans and overdrafts - 10,000
Other creditors 10,973 1,153
Taxation and social security 10,090 63,940
24,989 176,148
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 14,991 14,991
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 426 561
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10 10
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