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REGISTERED NUMBER: 00536727 (England and Wales)

| Morris Bufton & Co. Limited |

| Unaudited Financial Statements |

| for the Year Ended 31 December 2024 |

Morris Bufton & Co. Limited (Registered number: 00536727)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Morris Bufton & Co. Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | Mr J L Morris

| Mr S J Bufton

| Mr D J Bufton

| Mr M K J Bufton

| SECRETARY: | Mrs D C Bufton

| REGISTERED OFFICE: | 6 Gravel Hill

| Ludlow

| SHROPSHIRE

| SY8 1QL

| REGISTERED NUMBER: | 00536727 (England and Wales)

| ACCOUNTANTS: | Streets Dyke Ruscoe Ltd

| 110 Corve Street

| Ludlow

| SHROPSHIRE

| SY8 1DJ

Morris Bufton & Co. Limited (Registered number: 00536727)

Balance Sheet

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 4 | 1,982,322 |  | 2,073,489 |  |

CURRENT ASSETS

Inventories | 5 | 2,035,224 |  | 1,897,354 |  |

Debtors | 6 | 245,479 |  | 379,772 |  |

Cash in hand | 9 |  | 18 |  |

2,280,712 |  | 2,277,144 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,160,627 |  | 1,083,556 |  |

NET CURRENT ASSETS | 1,120,085 |  | 1,193,588 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,102,407 |  | 3,267,077 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (5,834 | ) | (15,834 | ) |

PROVISIONS FOR LIABILITIES | (48,906 | ) | (91,711 | ) |

NET ASSETS | 3,047,667 |  | 3,159,532 |  |

CAPITAL AND RESERVES

Called up share capital | 6,000 |  | 6,000 |  |

Retained earnings | 3,041,667 |  | 3,153,532 |  |

SHAREHOLDERS' FUNDS | 3,047,667 |  | 3,159,532 |  |

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 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.

Morris Bufton & Co. Limited (Registered number: 00536727)

Balance Sheet - continued

31 December 2024

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 7 October 2025 and were signed on its behalf by:

Mr J L Morris - Director

Morris Bufton & Co. Limited (Registered number: 00536727)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Morris Bufton & Co. 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

| The 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 the historical cost convention as modified by the inclusion of investment properties at their market value at the reporting date,

| Turnover

| Revenue 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.

| Freehold land | - | Not provided

| Freehold buildings | - | 2% on cost

| Plant and machinery | - | 25% on cost, 20% on cost, 20% on reducing balance and 10% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Stocks

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

| 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.

| 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 13 (2023 - 12 ) .

Morris Bufton & Co. Limited (Registered number: 00536727)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

4. | PROPERTY, PLANT AND EQUIPMENT

| Freehold |  | Freehold |  | Plant and |  | Motor |

| land |  | buildings |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST OR VALUATION

| At 1 January 2024 | 500,578 |  | 1,805,116 |  | 43,413 |  | 120,251 |  | 2,469,358 |  |

| Additions | - |  | 58,015 |  | 8,793 |  | - |  | 66,808 |  |

| Disposals | - |  | - |  | - |  | (2,400 | ) | (2,400 | ) |

| Revaluations | - |  | (118,015 | ) | - |  | - |  | (118,015 | ) |

| At 31 December 2024 | 500,578 |  | 1,745,116 |  | 52,206 |  | 117,851 |  | 2,415,751 |  |

| DEPRECIATION

| At 1 January 2024 | - |  | 309,942 |  | 26,824 |  | 59,103 |  | 395,869 |  |

| Charge for year | - |  | 18,558 |  | 5,610 |  | 14,521 |  | 38,689 |  |

| Eliminated on disposal | - |  | - |  | - |  | (1,129 | ) | (1,129 | ) |

| At 31 December 2024 | - |  | 328,500 |  | 32,434 |  | 72,495 |  | 433,429 |  |

| NET BOOK VALUE

| At 31 December 2024 | 500,578 |  | 1,416,616 |  | 19,772 |  | 45,356 |  | 1,982,322 |  |

| At 31 December 2023 | 500,578 |  | 1,495,174 |  | 16,589 |  | 61,148 |  | 2,073,489 |  |

| Included within the net book value of freehold land and buildings is an amount of £1,110,000 (2023: £1,070,000) relating to five investment properties.

| Cost or valuation at 31 December 2024 is represented by:

| Freehold |  | Freehold |  | Plant and |  | Motor |

| land |  | buildings |  | machinery |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| Valuation in 2008 | - |  | 213,756 |  | - |  | - |  | 213,756 |  |

| Valuation in 2013 | - |  | (52,830 | ) | - |  | - |  | (52,830 | ) |

| Valuation in 2014 | - |  | 40,000 |  | - |  | - |  | 40,000 |  |

| Valuation in 2018 | - |  | 24,000 |  | - |  | - |  | 24,000 |  |

| Valuation in 2020 | - |  | 85,000 |  | - |  | - |  | 85,000 |  |

| Valuation in 2022 | - |  | 130,000 |  | - |  | - |  | 130,000 |  |

| Valuation in 2023 | - |  | 100,000 |  | - |  | - |  | 100,000 |  |

| Valuation in 2024 | - |  | (118,015 | ) | - |  | - |  | (118,015 | ) |

| Cost | 500,578 |  | 1,323,205 |  | 52,206 |  | 117,851 |  | 1,993,840 |  |

500,578 |  | 1,745,116 |  | 52,206 |  | 117,851 |  | 2,415,751 |  |

| If the investment properties had not been revalued they would have been included at the following historical cost:

2024 | 2023 |

£ | £ |

| Cost | 526,264 |  | 526,264 |  |

| The residential investment properties have been valued by the directors based on a review of the current market values.

| The commercial investment property has been valued by the company's directors at its original cost and they are of the opinion that this has not changed.

Morris Bufton & Co. Limited (Registered number: 00536727)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | INVENTORIES

2024 | 2023 |

£ | £ |

| Stocks | 2,035,224 |  | 1,897,354 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 186,038 |  | 305,960 |  |

| Other debtors | 5,925 |  | 6,384 |  |

| Directors' loan accounts | 19,924 |  | 21,106 |  |

| Tax | 2,210 |  | - |  |

| VAT | 13,041 |  | 29,578 |  |

| Prepayments and accrued income | 18,341 |  | 16,744 |  |

245,479 |  | 379,772 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 83,670 |  | 47,924 |  |

| Trade creditors | 814,390 |  | 827,316 |  |

| Tax | - |  | 12,505 |  |

| Social security and other taxes | 7,863 |  | 6,369 |  |

| Other creditors | 1,266 |  | 1,002 |  |

| Other loans | 215,187 |  | 162,202 |  |

| Directors' loan accounts | 1,829 |  | 1,916 |  |

| Accruals and deferred income | 36,422 |  | 24,322 |  |

1,160,627 |  | 1,083,556 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loan | 5,834 |  | 15,834 |  |

9. | 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 S J Bufton

| Balance outstanding at start of year | 21,106 |  | 22,939 |  |

| Amounts advanced | 768 |  | - |  |

| Amounts repaid | (1,950 | ) | (1,833 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 19,924 |  | 21,106 |  |

Morris Bufton & Co. Limited (Registered number: 00536727)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

10. | RELATED PARTY DISCLOSURES

| The directors' loan account within debtors relates to Mr S J Bufton and is repayable upon demand and is currently interest free.

| Mr J L Morris, who holds 50% of the shares in the company, is the majority shareholder in Morris Corfield & Co Holdings Limited. The company had no transactions with Morris Corfield & Co Holdings Limited during the year to 31 December 2024.

| Morris Corfield & Co Holdings Limited owns the majority of shares in Morris Corfield & Co Limited.

| The following transactions have taken place during the year:

| £ |  |

| Sales to Morris Corfield & Co Limited |  | 925 |  |

| Amounts due from Morris Corfield & Co Limited |  | - |  |

| Purchases from Morris Corfield & Co Limited |  | - |  |

| Amounts due to Morris Corfield & Co Limited |  | - |  |