IRIS Accounts Production v25.2.0.378 10479549 Board of Directors 28.1.24 1.2.25 1.2.25 14.10.2025 false true false false false true false Auditors Opinion iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 10479549 2024-01-27 10479549 2025-02-01 10479549 2024-01-28 2025-02-01 10479549 2023-01-28 10479549 2023-01-29 2024-01-27 10479549 2024-01-27 10479549 ns15:EnglandWales 2024-01-28 2025-02-01 10479549 ns14:PoundSterling 2024-01-28 2025-02-01 10479549 ns10:Director1 2024-01-28 2025-02-01 10479549 ns10:PrivateLimitedCompanyLtd 2024-01-28 2025-02-01 10479549 ns10:SmallEntities 2024-01-28 2025-02-01 10479549 ns10:Audited 2024-01-28 2025-02-01 10479549 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-28 2025-02-01 10479549 ns10:SmallCompaniesRegimeForAccounts 2024-01-28 2025-02-01 10479549 ns10:FullAccounts 2024-01-28 2025-02-01 10479549 1 2024-01-28 2025-02-01 10479549 ns10:Director2 2024-01-28 2025-02-01 10479549 ns10:CompanySecretary1 2024-01-28 2025-02-01 10479549 ns10:RegisteredOffice 2024-01-28 2025-02-01 10479549 ns5:CurrentFinancialInstruments 2025-02-01 10479549 ns5:CurrentFinancialInstruments 2024-01-27 10479549 ns5:Non-currentFinancialInstruments 2025-02-01 10479549 ns5:Non-currentFinancialInstruments 2024-01-27 10479549 ns5:ShareCapital 2025-02-01 10479549 ns5:ShareCapital 2024-01-27 10479549 ns5:RetainedEarningsAccumulatedLosses 2025-02-01 10479549 ns5:RetainedEarningsAccumulatedLosses 2024-01-27 10479549 ns5:IntangibleAssetsOtherThanGoodwill 2024-01-28 2025-02-01 10479549 ns5:IntangibleAssetsOtherThanGoodwill 2025-02-01 10479549 ns5:PlantMachinery 2024-01-27 10479549 ns5:FurnitureFittings 2024-01-27 10479549 ns5:ComputerEquipment 2024-01-27 10479549 ns5:PlantMachinery 2024-01-28 2025-02-01 10479549 ns5:FurnitureFittings 2024-01-28 2025-02-01 10479549 ns5:ComputerEquipment 2024-01-28 2025-02-01 10479549 ns5:PlantMachinery 2025-02-01 10479549 ns5:FurnitureFittings 2025-02-01 10479549 ns5:ComputerEquipment 2025-02-01 10479549 ns5:PlantMachinery 2024-01-27 10479549 ns5:FurnitureFittings 2024-01-27 10479549 ns5:ComputerEquipment 2024-01-27 10479549 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-02-01 10479549 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-01-27 10479549 ns5:Non-currentFinancialInstruments 2024-01-28 2025-02-01 10479549 ns5:WithinOneYear 2025-02-01 10479549 ns5:WithinOneYear 2024-01-27 10479549 ns5:BetweenOneFiveYears 2025-02-01 10479549 ns5:BetweenOneFiveYears 2024-01-27 10479549 ns5:AllPeriods 2025-02-01 10479549 ns5:AllPeriods 2024-01-27

REGISTERED NUMBER: 10479549 (England and Wales)

| AUDITED FINANCIAL STATEMENTS |

| FOR THE PERIOD 28 JANUARY 2024 TO 1 FEBRUARY 2025 |

| FOR |

| MORLEYS (BEXLEYHEATH) LTD |

MORLEYS (BEXLEYHEATH) LTD (REGISTERED NUMBER: 10479549)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 28 JANUARY 2024 TO 1 FEBRUARY 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

MORLEYS (BEXLEYHEATH) LTD

COMPANY INFORMATION

FOR THE PERIOD 28 JANUARY 2024 TO 1 FEBRUARY 2025

| DIRECTORS: | B H Dreesmann

| A C Winstanley

| SECRETARY: | T James

| REGISTERED OFFICE: | 472-488 Brixton Road

| Brixton

| London

| SW9 8EH

| REGISTERED NUMBER: | 10479549 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Andrew Green LLB FCA

| AUDITORS: | THP Limited

| Chartered Accountants

| and Statutory Auditors

| 34-40 High Street

| Wanstead

| London

| E11 2RJ

| BANKERS: | Barclays Bank PLC

| Clapham Common Group

| 83 Wandsworth High Street

| London

| SW18 2PR

MORLEYS (BEXLEYHEATH) LTD (REGISTERED NUMBER: 10479549)

BALANCE SHEET

1 FEBRUARY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 5 | 12,167 |  | - |  |

Tangible assets | 6 | 96,651 |  | 364,788 |  |

108,818 |  | 364,788 |  |

CURRENT ASSETS

Stocks | 1,034,778 |  | 1,096,156 |  |

Debtors | 7 | 220,715 |  | 127,182 |  |

Cash at bank | 122,752 |  | 338,848 |  |

1,378,245 |  | 1,562,186 |  |

CREDITORS

Amounts falling due within one year | 8 | 1,259,654 |  | 1,209,373 |  |

NET CURRENT ASSETS | 118,591 |  | 352,813 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 227,409 |  | 717,601 |  |

CREDITORS

Amounts falling due after more than one year | 9 | 3,000,000 |  | 3,000,000 |  |

NET LIABILITIES | (2,772,591 | ) | (2,282,399 | ) |

CAPITAL AND RESERVES

Called up share capital | 500,000 |  | 500,000 |  |

Retained earnings | (3,272,591 | ) | (2,782,399 | ) |

(2,772,591 | ) | (2,282,399 | ) |

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 14 October 2025 and were signed on its behalf by:

A C Winstanley - Director

MORLEYS (BEXLEYHEATH) LTD (REGISTERED NUMBER: 10479549)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 28 JANUARY 2024 TO 1 FEBRUARY 2025

1. | STATUTORY INFORMATION

| Morleys (Bexleyheath) Ltd 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 (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements and going concern

| The financial statements have been prepared under the historical cost convention.

| The accounts have been prepared on a going concern basis despite the deficit in shareholders funds.

| The Company is financially supported by its ultimate parent company.

| In consequence, the Directors have prepared these accounts on a going concern basis.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Revenue recognition

| Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and value added taxes.

| Sales of goods are recognised on sale to the customer, which is considered to be the point of sale or delivery and when the significant risks and rewards of the goods have been passed to the customer.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Computer software costs are amortised over a period of 5 years, commencing from the month the software is brought into use.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Tangible Fixed Assets are stated at cost less depreciation.

| Depreciation is provided at rates calculated to write off the cost of Tangible Fixed Assets, less their estimated residual value, over their estimated useful lives at the following rates:

|  | Fixtures & Fittings | - 12.5% - 16.67% on cost |  |

|  | Equipment | - 15% - 16.67% on cost |  |

|  | Computer Equipment | - 33% on cost |  |

| Fixtures and Fittings over 15 years old and Equipment over 10 years old are eliminated from fixed assets, except in instances where they are known to be still in use.

| Items costing less than £500 are not capitalised but written off to the Profit and Loss Account as incurred.

| Stocks

| Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for impairment of obsolete or slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

| Cost is determined on an average cost basis. Cost includes the purchase price, including taxes and duties, transport and all other costs directly attributable to bringing the stock to its present location and condition.

MORLEYS (BEXLEYHEATH) LTD (REGISTERED NUMBER: 10479549)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 28 JANUARY 2024 TO 1 FEBRUARY 2025

3. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the period 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 period 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.

| Operating leases

| 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.

| Employee benefits

| The company provides a range of benefits to employees, including paid holiday arrangements and a group personal pension plan.

| (i) Short Term Benefits

| Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

| (ii) Group Personal Pension Plan

| The company operates a group personal pension plan for its employees. This is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown as a creditor on the balance sheet. The assets of the scheme are held separately from the company in independently administered funds.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 55 (2024 - 56 ) .

5. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| Additions | 12,167 |  |

| At 1 February 2025 | 12,167 |  |

| NET BOOK VALUE

| At 1 February 2025 | 12,167 |  |

MORLEYS (BEXLEYHEATH) LTD (REGISTERED NUMBER: 10479549)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 28 JANUARY 2024 TO 1 FEBRUARY 2025

6. | TANGIBLE FIXED ASSETS

| Fixtures |  | Computer |

| Equipment |  | & Fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 28 January 2024 | 86,850 |  | 2,069,221 |  | 124,739 |  | 2,280,810 |  |

| Additions | 5,490 |  | 400 |  | 6,869 |  | 12,759 |  |

| At 1 February 2025 | 92,340 |  | 2,069,621 |  | 131,608 |  | 2,293,569 |  |

| DEPRECIATION

| At 28 January 2024 | 57,901 |  | 1,739,031 |  | 119,090 |  | 1,916,022 |  |

| Charge for period | 9,402 |  | 264,849 |  | 6,645 |  | 280,896 |  |

| At 1 February 2025 | 67,303 |  | 2,003,880 |  | 125,735 |  | 2,196,918 |  |

| NET BOOK VALUE

| At 1 February 2025 | 25,037 |  | 65,741 |  | 5,873 |  | 96,651 |  |

| At 27 January 2024 | 28,949 |  | 330,190 |  | 5,649 |  | 364,788 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 14,606 |  | 13,161 |  |

| Deferred tax asset

| Accelerated depreciation | 113,473 |  | 51,348 |  |

| Prepayments | 92,636 |  | 62,673 |  |

220,715 |  | 127,182 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 539,406 |  | 398,248 |  |

| Amounts owed to group undertakings | 445,670 |  | 471,487 |  |

| Accruals | 274,578 |  | 339,638 |  |

1,259,654 |  | 1,209,373 |  |

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

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | 3,000,000 |  | 3,000,000 |  |

| The above loan is unsecured, interest is charged at 2%. Although this loan is technically repayable on demand, the Company has received assurances that repayment will not be due until the Company has sufficient funds to do so.

10. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 5,896 |  | 8,816 |  |

| Between one and five years | - |  | 661 |  |

5,896 |  | 9,477 |  |

11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Andrew Green LLB FCA (Senior Statutory Auditor)

| for and on behalf of THP Limited

MORLEYS (BEXLEYHEATH) LTD (REGISTERED NUMBER: 10479549)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 28 JANUARY 2024 TO 1 FEBRUARY 2025

12. | CONTINGENT LIABILITIES

| The Company had no contingent liabilities at 1 February 2025 (2024: £NIL) other than a cross guarantee in the form of a charge over the Company's assets, to the favour of the Group's principal Bank, covering all borrowings and overdrafts by the Group from that Bank. At the period end there were no net group borrowings from the principal Bankers.

13. | ULTIMATE CONTROLLING PARTY

| The Company is a wholly owned subsidiary of Morleys Department Stores Limited. The ultimate parent company is Morleys Stores Limited, a company incorporated in England & Wales. Details of the ultimate controlling party can be found in the accounts of Morleys Stores Limited.

| A copy of the group consolidated accounts may be obtained from Companies House.