| REGISTERED NUMBER: |
| A & L Morgan Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| REGISTERED NUMBER: |
| A & L Morgan Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| A & L Morgan Ltd (Registered number: 06027544) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| A & L Morgan Ltd |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| trading as The Hutchinson Partnership |
| Chartered Accountants |
| The Bull Pen |
| Grove Farm |
| Portway, Burghill |
| Hereford |
| HR4 8NF |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| A & L Morgan Ltd |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and loss account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A & L Morgan Ltd for the year ended 31 March 2025 which comprise the Profit and loss account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of A & L Morgan Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A & L Morgan Ltd and state those matters that we have agreed to state to the Board of Directors of A & L Morgan Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & L Morgan Ltd and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that A & L Morgan Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A & L Morgan Ltd. You consider that A & L Morgan Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of A & L Morgan Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| trading as The Hutchinson Partnership |
| Chartered Accountants |
| The Bull Pen |
| Grove Farm |
| Portway, Burghill |
| Hereford |
| HR4 8NF |
| A & L Morgan Ltd (Registered number: 06027544) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Allotted, issued and fully |
| paid up share capital |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| A & L Morgan Ltd (Registered number: 06027544) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| A & L Morgan Ltd (Registered number: 06027544) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| A & L Morgan Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare accounts on the going concern basis. |
| Turnover |
| Turnover represents livestock sales, stated net of discounts, rebates, value added tax and other sales taxes. |
| The company recognises revenue when the significant risks and rewards of ownership have passed to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| The following criteria must be met before revenue is recognised: |
| Livestock sales are recognised when the animals are sold at market or delivered to the abattoir. |
| Revenue from services is recognised in the accounting periods in which the services are rendered. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Freehold property is shown at the most recent valuation. The surplus arising from the change in fair value is recognised in Other Comprehensive Income. |
| The valuation of the freehold property was provided by Bruton Knowles on 22 July 2025. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| The company has the following biological assets within stock which are valued as disclosed: |
| Livestock - valued at their estimated cost not in excess of current market values |
| Crops in store - valued at their estimated cost not in excess of current market values |
| Growing crop - valued at the cost of inputs and cultivations up to the period end |
| A & L Morgan Ltd (Registered number: 06027544) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| 3. | EMPLOYEES |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| A & L Morgan Ltd (Registered number: 06027544) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Included in cost or valuation of land and buildings is freehold land of £ 1,860,000 (2024 - £ 1,480,000 ) which is not depreciated. |
| Included within fixed assets are £71,200 (2024 £nil) of assets under a hire purchase agreement. |
| Cost or valuation at 31 March 2025 is represented by: |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| Valuation in 2023 | 1,189,959 | - | - |
| Valuation in 2024 | (370,000 | ) | - | - |
| Valuation in 2025 | 380,000 | - | - |
| Cost | 660,041 | 358,416 | 1,170,264 |
| 1,860,000 | 358,416 | 1,170,264 |
| A & L Morgan Ltd (Registered number: 06027544) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| Valuation in 2023 | - | - | - | 1,189,959 |
| Valuation in 2024 | - | - | - | (370,000 | ) |
| Valuation in 2025 | - | - | - | 380,000 |
| Cost | 46,013 | 114,435 | 4,580 | 2,353,749 |
| 46,013 | 114,435 | 4,580 | 3,553,708 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 660,041 | 660,041 |
| Value of land in freehold land and buildings | 1,860,000 | 1,480,000 |
| Freehold property was valued on an open market basis on 22 July 2025 by Bruton Knowles . |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Stores valuation | 13,950 | 31,700 |
| Work in progress |
| Livestock valuation |
| A & L Morgan Ltd (Registered number: 06027544) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by related party |
| Corporation tax repayable |
| VAT |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax payable |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts |
| Accruals and deferred income |
| Balances due to directors are repayable on demand and interest free. |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans due within 1-2 |
| years |
| Bank loans due within 2-5 |
| years |
| Bank loans due after more than |
| 5 years |
| Hire purchase contracts |
| Accruals & deferred income due |
| after more than 1 year |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans due after more than |
| 5 years | 437,921 | 472,730 |
| 437,921 | 472,730 |
| A & L Morgan Ltd (Registered number: 06027544) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Lloyds bank loans | 602,015 | 632,600 |
| The bank loan is secured by a fixed and floating charge over the freehold property. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax |
| Other timing differences | 13,029 | 11,016 |
| Accelerated Capital Allowances | 143,179 | 116,752 |
| Revaluation of land | 299,990 | 204,990 |
| 456,198 | 332,758 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Charge to Profit and Loss Account during year |
| Revaluation of land | 95,000 |
| Balance at 31 March 2025 |
| 12. | FINANCIAL COMMITMENTS |
| Total financial commitments which are not included in the balance sheet amount to £17,500 (2024 - £20,000). The financial commitments are due over the next 18 months and relate to land and property rent. |
| 13. | RELATED PARTY DISCLOSURES |
| During the year £49,092 (2024 - £184,468) was advanced to a partnership in which two of the directors are partners. The remaining balance due from the partnership at the year end was £503,587 (2024 - £454,495). Interest of £10,295 (2024 - £9,374) was charged on this balance at the official interest rate of 2.25% (2024 - 2.25%). |
| Land was rented from a partnership in which two of the directors are partners amounting to £78,000 (2024 - £78,000). |