MORRIS AND BATES LIMITED


Directors	BATES, Christopher Wyn
	BATES, Nia Catherine
	JONES, Annwen Mair
	MORRIS, Richard John


Company Secretary	MORRIS, Richard John


Registered Address	Morris And Bates
	Alexandra Road
	Aberystwyth
	SY23 1PT


Registered Number	07393758 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		800,000		800,000
Tangible assets	4		2,519		3,992
			802,519		803,992
Current assets
Stocks	5	161,974		158,181
Debtors		213,046		156,953
Cash at bank and on hand		73,977		86,597
		448,997		401,731
Creditors amounts falling due within one year	6	(612,096)		(705,948)
Net current assets (liabilities)			(163,099)		(304,217)
Total assets less current liabilities			639,420		499,775
Creditors amounts falling due after one year	7		(122,588)		(151,334)
Provisions for liabilities	8		(998)		(998)
Net assets			515,834		347,443
Capital and reserves
Called up share capital			129		129
Profit and loss account			515,705		347,314
Shareholders' funds			515,834		347,443

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 28 November 2025, and are signed on its behalf by:

MORRIS, Richard John
Director
Registered Company No. 07393758

MORRIS AND BATES LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Going concern
	These financial statements have been prepared on a going concern basis.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is represented by the value in holding of will books of clients and it is the directors' opinion that this value is sufficiently consistent not to warrant any impairment.

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is represented by the value in holding of will books of clients and it is the directors' opinion that this value is sufficiently consistent not to warrant any impairment.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	17		16

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	800,000	800,000
At 31 March 25	800,000	800,000
Net book value
At 31 March 25	800,000	800,000
At 31 March 24	800,000	800,000

4.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 April 24	283	39,754	40,037
At 31 March 25	283	39,754	40,037
Depreciation and impairment
At 01 April 24	274	35,771	36,045
Charge for year	2	1,471	1,473
At 31 March 25	276	37,242	37,518
Net book value
At 31 March 25	7	2,512	2,519
At 31 March 24	9	3,983	3,992

5.	Stocks

	2025	2024
	£	£
Work in progress	151,974	148,181
Other stocks	10,000	10,000
Total	161,974	158,181

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	10,890	8,374
Bank borrowings and overdrafts	28,663	79,903
Taxation and social security	163,977	99,977
Other creditors	397,031	507,678
Accrued liabilities and deferred income	11,535	10,016
Total	612,096	705,948


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	122,588	151,334
Total	122,588	151,334

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	998	998
Total	998	998

9.	Related party transactions
	As at the balance sheet date the company owed its directors £331,390 (2024: £416,846). No interest is charged and the amount is repayable in full on demand.