Registered number
08648333
Morris Properties Ltd
Filleted Accounts
30 November 2024
Morris Properties Ltd
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,480,110 1,484,315
Current assets
Stocks 310,250 283,500
Cash at bank and in hand 40,926 27,554
351,176 311,054
Creditors: amounts falling due within one year 4 (140,923) (139,479)
Net current assets 210,253 171,575
Total assets less current liabilities 1,690,363 1,655,890
Creditors: amounts falling due after more than one year 5 (1,196,501) (1,211,148)
Net assets 493,862 444,742
Capital and reserves
Called up share capital 3 3
Profit and loss account 493,859 444,739
Shareholders' funds 493,862 444,742
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T Morris
Director
Approved by the board on 28 August 2025
Morris Properties Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not depreciated.
Plant and machinery 20% Reducing Balance
Fixtures, fittings, tools and equipment 25% Straight Line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2023 1,479,532 53,757 1,533,289
At 30 November 2024 1,479,532 53,757 1,533,289
Depreciation
At 1 December 2023 - 48,974 48,974
Charge for the year - 4,205 4,205
At 30 November 2024 - 53,179 53,179
Net book value
At 30 November 2024 1,479,532 578 1,480,110
At 30 November 2023 1,479,532 4,783 1,484,315
4 Creditors: amounts falling due within one year 2024 2023
£ £
Creditors less than 1yr - Bank loans 24,000 32,000
Trade creditors 279 -
Taxation and social security costs 14,102 618
Bonds 7,190 6,940
Other creditors 95,352 99,921
140,923 139,479
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 1,196,501 1,211,148
6 Related party transactions
Morris Properties Ltd has borrowed money from it's directors. The borrowings are interest
free and repayable on demand.
The outstanding balances are: 2023 2022
£ £
Due to TGM Building and Eng Svcs Ltd 229,300 229,300
Due to ATMO Engineering Ltd 317,336 315,836
7 Controlling party
The company is under the joint control of it's directors.
8 Other information
Morris Properties Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
18, Carn-Y-Tyla
Abertysswg
Rhymney
Tredegar
NP22 5AF
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