REGISTERED NUMBER: 03177121 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Moorheys Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr H Griffiths

REGISTERED OFFICE:

Moorhey Street

Oldham

Lancashire

OL4 1JJ

REGISTERED NUMBER:

03177121 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

4

173,114

191,520

CURRENT ASSETS

Stocks

5

3,500

3,500

Debtors

6

241,079

268,026

Cash at bank and in hand

104,088

51,167

348,667

322,693

CREDITORS

Amounts falling due within one year

7

(430,662

)

(446,589

)

NET CURRENT LIABILITIES

(81,995

)

(123,896

)

TOTAL ASSETS LESS CURRENT LIABILITIES

91,119

67,624

CREDITORS

Amounts falling due after more than one year

8

(3,072

)

(19,570

)

PROVISIONS FOR LIABILITIES

(42,641

)

(46,920

)

NET ASSETS

45,406

1,134

CAPITAL AND RESERVES

Called up share capital

10

30

30

Revaluation reserve

-

1,007

Retained earnings

45,376

97

SHAREHOLDERS' FUNDS

45,406

1,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Mr H Griffiths - Director

1.	STATUTORY INFORMATION

Moorheys 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.

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 as modified by the revaluation of certain assets.

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.

Improvements to property

- 20% on cost

Plant and machinery

- 33% on cost

- 20% on cost

- 10% on cost

- 4% on cost

Fixtures and fittings

- 10% on cost

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

Stock and work in progress

Stock on hand has been valued by the director consistently with previous years at the lower of cost and net realisable value in the normal course of business. Work in progress has been valued consistently with previous years at prime cost, i.e. direct labour and materials, at the lower of cost and net realisable value with no addition for overheads.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss account over the expected useful lives of the assets concerned. Other grants are credited to the profit and loss account as the related expenditure is incurred.

Going concern

The company's financial statements for the year ended 31 December 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2024

13,064

621,836

43,907

678,807

Additions

-

-

5,379

5,379

At 31 December 2024

13,064

621,836

49,286

684,186

DEPRECIATION

At 1 January 2024

13,064

434,903

39,320

487,287

Charge for year

-

22,910

875

23,785

At 31 December 2024

13,064

457,813

40,195

511,072

NET BOOK VALUE

At 31 December 2024

-

164,023

9,091

173,114

At 31 December 2023

-

186,933

4,587

191,520

Cost or valuation at 31 December 2024 is represented by:

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Valuation in 2003

-

(13,500

)

-

(13,500

)

Cost

13,064

635,336

49,286

697,686

13,064

621,836

49,286

684,186

If plant & machinery had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

635,336

635,336

Aggregate depreciation

466,041

443,132

Certain plant and machinery were valued on an open market basis on 31 December 2003 by the director .

The director does not consider the market value to be materially different at year end.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

93,236

DEPRECIATION

At 1 January 2024

31,550

Charge for year

7,493

At 31 December 2024

39,043

NET BOOK VALUE

At 31 December 2024

54,193

At 31 December 2023

61,686

5.

STOCKS

2024

2023

£

£

Stocks

3,500

3,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

180,605

240,429

Other debtors

60,474

27,597

241,079

268,026

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

14,188

9,879

Trade creditors

58,651

64,621

Taxation and social security

100,673

152,907

Other creditors

257,150

219,182

430,662

446,589

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

3,002

19,500

Other creditors

70

70

3,072

19,570

2024

2023

£

£

Amounts falling due in more than five years:

Repayable by instalments

Preference shares

70

70

Redeemable Preference Shares of £1 each were issued on the 17 September 2021. The redeemable preference shares are entitled to a £371.42 fixed rate dividend per annum per share subject to available profits.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

17,190

29,379

Other creditors

-

207,953

17,190

237,332

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

£

30

Ordinary

£1

30

30

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr H Griffiths

Balance outstanding at start of year

-

-

Amounts advanced

10,430

-

Amounts repaid

(5,115

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,315

-

During the year, no interest was charged to director's current account in respect of this overdrawn balance.

12.	RELATED PARTY DISCLOSURES

Included within other debtors is a balance due from a shareholder of £27,255 (2023: £937). There are no

fixed repayment terms and no interest is charged by the company in respect of this balance.