J C Morrison LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC368615

J C Morrison LLP

Filleted Unaudited Financial Statements

31 March 2025

J C Morrison LLP

Financial Statements

Year ended 31 March 2025

Contents	Page

Members' report	1

Statement of financial position	2

Notes to the financial statements	4

J C Morrison LLP

Members' Report

Year ended 31 March 2025

The members present their report and the unaudited financial statements of the LLP for the year ended 31 March 2025 .

Principal activities

The principal activity of the LLP during the year was the operation of petrol filling stations and associated retail activities.

Designated members

The designated members who served the LLP during the year were as follows:

A J Du Plessis
C A Morrison

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated on the basis set out in the partnership agreement. Members are permitted to make drawings in anticipation of profits which will be allocated to them, subject to the cash requirements of the LLP.

Each member's subscription to the capital of the LLP is determined by their agreed share of the profit and is repayable on retirement from the LLP.

This report was approved by the members on 22 September 2025 and signed on behalf of the members by:

A J Du Plessis	C A Morrison
Designated Member	Designated Member

Registered office:

Broadway Garage

Broadstairs

Kent

CT10 2AY

J C Morrison LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		3,234,022	3,376,032

Current assets

Stocks		167,488	185,133
Debtors	7	110,207	173,758
Cash at bank and in hand		1,272,537	1,103,232
		------------	------------
		1,550,232	1,462,123

Creditors: amounts falling due within one year	8	689,557		693,193
		------------		------------
Net current assets			860,675	768,930
			------------	------------
Total assets less current liabilities			4,094,697	4,144,962

Creditors: amounts falling due after more than one year	9	365,522	421,645
		------------	------------
Net assets		3,729,175	3,723,317
		------------	------------

Represented by:

Loans and other debts due to members

Other amounts	10		1,520,252	1,498,162

Members' other interests

Members' capital classified as equity	1,546,085	1,562,317
Revaluation reserve	662,838	662,838
Other reserves	–	–
	------------	------------
	3,729,175	3,723,317
	------------	------------

Total members' interests

Loans and other debts due to members	10	1,520,252	1,498,162
Members' other interests		2,208,923	2,225,155
		------------	------------
		3,729,175	3,723,317
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

J C Morrison LLP

Statement of Financial Position (continued)

31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the members and authorised for issue on 22 September 2025 , and are signed on their behalf by:

A J Du Plessis	C A Morrison
Designated Member	Designated Member

Registered number: OC368615

J C Morrison LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Broadway Garage, Broadstairs, Kent, CT10 2AY.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and freehold properties measured at fair value through other comprehensive income. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

The turnover shown in the statement of comprehensive income represents income earned from the operation of petrol filling stations along with associated retail activities, stated exclusive of Value Added Tax and trade discounts.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise as under the partnership agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, and profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'. Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	2% - 6% straight line
Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	20% straight line
Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to sell, using the first in first out method. Cost includes all costs of purchase and those incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 34 (2024: 33 ).

5.	Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	5,000
	-------
Amortisation
At 1 April 2024 and 31 March 2025	5,000
	-------
Carrying amount
At 31 March 2025	–
	-------
At 31 March 2024	–
	-------

6.	Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2024	3,116,290	671,227	269,519	70,186	42,882	4,170,104
Additions	–	–	29,543	–	818	30,361
Disposals	–	–	–	–	( 144)	( 144)
	------------	---------	---------	--------	--------	------------
At 31 Mar 2025	3,116,290	671,227	299,062	70,186	43,556	4,200,321
	------------	---------	---------	--------	--------	------------
Depreciation
At 1 Apr 2024	353,184	277,508	94,393	46,603	22,384	794,072
Charge for the year	35,055	78,743	37,925	11,839	8,713	172,275
Disposals	–	–	–	–	( 48)	( 48)
	------------	---------	---------	--------	--------	------------
At 31 Mar 2025	388,239	356,251	132,318	58,442	31,049	966,299
	------------	---------	---------	--------	--------	------------
Carrying amount
At 31 Mar 2025	2,728,051	314,976	166,744	11,744	12,507	3,234,022
	------------	---------	---------	--------	--------	------------
At 31 Mar 2024	2,763,106	393,719	175,126	23,583	20,498	3,376,032
	------------	---------	---------	--------	--------	------------

Included in land and buildings is land at valuation of £1,987,197 (2024: £1,987,197) which is not depreciated.

7.	Debtors

	2025	2024
	£	£
Trade debtors	13,727	17,441
Other debtors	96,480	156,317
	---------	---------
	110,207	173,758
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	52,738	50,687
Trade creditors	451,616	486,293
Social security and other taxes	84,251	63,208
Wages liability	51,484	47,214
Other creditors	49,468	45,791
	---------	---------
	689,557	693,193
	---------	---------

Bank loans amounting to £52,738 (2024: £50,687) are secured by a debenture with a fixed and floating charge over the business and the mortgage deeds which are secured over the freehold property.

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

	2025	2024
	£	£
Bank loans and overdrafts	365,522	421,645
	---------	---------

Bank loans amounting to £363,522 (2024: £421,645) are secured by a debenture with a fixed and floating charge over the business and the mortgage deeds which are secured over the freehold property.

The LLP bank loans are repayable by instalments ending May 2032, at an interest rate of 5.615%.

10.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	1,520,252	1,498,162
	------------	------------

11.	Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	33,120	–
Later than 1 year and not later than 5 years	128,287	–
Later than 5 years	23,000	–
	---------	----
	184,407	–
	---------	----