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REGISTERED NUMBER: 01885223 (England and Wales)















Morrow Brothers Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025






Morrow Brothers Limited (Registered number: 01885223)






Contents of the Financial Statements
for the year ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morrow Brothers Limited

Company Information
for the year ended 31 March 2025







DIRECTORS: A Morrow
KW Morrow
LJ Morrow





REGISTERED OFFICE: 433 Walton Summit Centre
Bamber Bridge
Preston
Lancashire
PR5 8AR





REGISTERED NUMBER: 01885223 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Morrow Brothers Limited (Registered number: 01885223)

Balance Sheet
31 March 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 550,956 551,217

CURRENT ASSETS
Stocks 47,000 57,000
Debtors 5 301,114 432,086
348,114 489,086
CREDITORS
Amounts falling due within one year 6 754,209 890,474
NET CURRENT LIABILITIES (406,095 ) (401,388 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,861

149,829

CREDITORS
Amounts falling due after more than one
year

7

2,847

20,848
NET ASSETS 142,014 128,981

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Revaluation reserve 10 254,568 254,568
Retained earnings (113,554 ) (126,587 )
SHAREHOLDERS' FUNDS 142,014 128,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Morrow Brothers Limited (Registered number: 01885223)

Balance Sheet - continued
31 March 2025


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by:





A Morrow - Director


Morrow Brothers Limited (Registered number: 01885223)

Notes to the Financial Statements
for the year ended 31 March 2025

1. STATUTORY INFORMATION

Morrow Brothers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The amounts in the financial statements have been rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
At the balance sheet date the company had an excess of current liabilities over current assets. The financial statements have been prepared on a going concern basis as the directors have confirmed that they will continue to provide financial support to the company for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 10% - 33% on cost
Motor vehicles - 25% on cost

In accordance with the provisions of FRS102, the freehold property is revalued as required on a regular basis and the company reviews the carrying value of the freehold property at each period end to ensure that this is not materially different from its fair value. Provision is made for any impairment in the value of the freehold property as necessary during the period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Morrow Brothers Limited (Registered number: 01885223)

Notes to the Financial Statements - continued
for the year ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 April 2024 455,000 306,445 100,023 39,569 901,037
Additions - 12,350 - - 12,350
At 31 March 2025 455,000 318,795 100,023 39,569 913,387
DEPRECIATION
At 1 April 2024 - 221,303 98,768 29,749 349,820
Charge for year - 9,749 407 2,455 12,611
At 31 March 2025 - 231,052 99,175 32,204 362,431
NET BOOK VALUE
At 31 March 2025 455,000 87,743 848 7,365 550,956
At 31 March 2024 455,000 85,142 1,255 9,820 551,217

During 2022 the company's freehold land and buildings were revalued to £455,000 by the directors on an open market, existing use basis. The directors arrived at this valuation using data available from readily available sources concerning similar property types in the local area. The historic cost of freehold land and buildings is £200,432 (2024: £200,432).

Morrow Brothers Limited (Registered number: 01885223)

Notes to the Financial Statements - continued
for the year ended 31 March 2025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 296,253 233,763
Tax - 39,310
Prepayments and accrued income 4,861 159,013
301,114 432,086

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Bank loans and overdrafts 355,556 311,641
Hire purchase contracts - 10,000
Trade creditors 227,871 437,979
Social security and other taxes 21,473 26,349
VAT 64,820 29,718
Other creditors 24,031 15,377
Directors' current accounts 50,314 44,961
Accruals and deferred income 10,144 14,449
754,209 890,474

Included within other creditors are amounts due to the directors £50,314 (2024: £44,961). These amounts are unsecured and have no fixed repayment dates.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£ £
Bank loans - 1-2 years 2,847 20,848

8. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£ £
Bank overdrafts 340,030 243,182
Bank loans 18,373 89,307
Hire purchase contracts - 10,000
358,403 342,489

The bank overdraft is secured by a legal charge over the freehold property and a fixed and floating charge over all assets, both dated 18 June 2015.

Hire purchase borrowings are secured on certain plant & vehicles.

Morrow Brothers Limited (Registered number: 01885223)

Notes to the Financial Statements - continued
for the year ended 31 March 2025

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £ £
250 Ordinary A £1 250 250
250 Ordinary B £1 250 250
250 Ordinary C £1 250 250
250 Ordinary D £1 250 250
1,000 1,000

10. RESERVES
Revaluation
reserve
£
At 1 April 2024
and 31 March 2025 254,568

No deferred tax has been provided on the revaluation surplus as any gain arising on sale will be off set by tax allowances that are available.

11. ULTIMATE CONTROLLING PARTY

In the opinion of the directors the company is controlled by the directors.