Company No: 04354929 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Sarah Elizabeth Hogg (Appointed 17 October 2024)
	Natasha Louise Morrell
	Stephen Jonathan Morrell

SECRETARY

Stephen Jonathan Morrell

REGISTERED OFFICE	Wellington House
	Aviator Court
	York
	YO30 4UZ
	United Kingdom

COMPANY NUMBER

04354929 (England and Wales)

ACCOUNTANT	Morrell Middleton Auditors Ltd Chartered Certified Accountants
	Wellington House
	Aviator Court
	York
	YO30 4UZ

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	0		34,652
Tangible assets	4	315,488		322,924
Investments	5	816,712		166,712
		1,132,200		524,288
Current assets
Stocks	6	241,668		246,668
Debtors	7	196,106		229,654
Cash at bank and in hand		( 35,240)		( 58,438)
		402,534		417,884
Creditors: amounts falling due within one year	8	( 138,851)		( 182,772)
Net current assets		263,683		235,112
Total assets less current liabilities		1,395,883		759,400
Creditors: amounts falling due after more than one year	9	( 1,284,771)		( 653,521)
Net assets		111,112		105,879
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		111,012		105,779
Total shareholders' funds		111,112		105,879

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Morrell Middleton Auditors Ltd (registered number: 04354929) were approved and authorised for issue by the Board of Directors on 15 September 2025. They were signed on its behalf by:

Stephen Jonathan Morrell Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Morrell Middleton Auditors Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wellington House, Aviator Court, York, YO30 4UZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

0 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings
Plant and machinery etc.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 February 2024	611,869		611,869
At 31 January 2025	611,869		611,869
Accumulated amortisation
At 01 February 2024	577,217		577,217
Charge for the financial year	34,653		34,653
At 31 January 2025	611,869		611,869
Net book value
At 31 January 2025	0		0
At 31 January 2024	34,652		34,652

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 February 2024	37,803		578,340		616,143
Additions	0		55,345		55,345
At 31 January 2025	37,803		633,700		671,503
Accumulated depreciation
At 01 February 2024	14,612		278,607		293,219
Charge for the financial year	5,304		57,492		62,796
At 31 January 2025	19,916		336,099		356,015
Net book value
At 31 January 2025	17,887		297,601		315,488
At 31 January 2024	23,191		299,733		322,924

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Carrying value at 31 January 2025	816,712
Carrying value at 31 January 2024	166,712

6. Stocks

	2025		2024
	£		£
Work in progress	241,668		246,668

7. Debtors

	2025		2024
	£		£
Trade debtors	182,300		201,554
Other debtors	13,806		28,100
	196,106		229,654

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	48,164		110,598
Trade creditors	27,653		44,286
Taxation and social security	62,696		22,527
Other creditors	338		5,361
	138,851		182,772

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	304,587		139,447
Amounts owed to joint ventures	95,582		70,630
Other creditors	884,602		443,444
	1,284,771		653,521

There are no amounts included above in respect of which any security has been given by the small entity.

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100