Registration number:
Morfeys Removals Limited
for the Year Ended 30 April 2025
Morfeys Removals Limited
Contents
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Company Information |
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Director's Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Accountants' Report |
Morfeys Removals Limited
Company Information
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Director |
P O Shanks |
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Company secretary |
P O Shanks |
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Registered office |
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Accountants |
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Morfeys Removals Limited
Director's Report for the Year Ended 30 April 2025
The director presents his report and the financial statements for the year ended 30 April 2025.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is Removals
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Morfeys Removals Limited
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 April 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
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Other interest receivable and similar income |
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Interest payable and similar charges |
( |
( |
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36,248 |
8,541 |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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Retained earnings brought forward |
779,269 |
792,429 |
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Dividends paid |
( |
( |
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Retained earnings carried forward |
881,351 |
779,269 |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Morfeys Removals Limited
(Registration number: 06153132)
Balance Sheet as at 30 April 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
Morfeys Removals Limited
(Registration number: 06153132)
Balance Sheet as at 30 April 2025
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Morfeys Removals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
Orchards Farm
Wittersham Road
Iden
Rye
TN31 7KB
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency of the financial statements is the Pound Sterling (£).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Morfeys Removals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office equipment |
25% reducing balance |
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Motor vehicles |
25% reducing balance |
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Plant and machinery |
25% reducing balance |
Goodwill
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 amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
20 years from acquisition of business in 2007 |
Morfeys Removals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Morfeys Removals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
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Profit before tax |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
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Amortisation expense |
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 May 2024 |
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At 30 April 2025 |
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Amortisation |
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At 1 May 2024 |
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Amortisation charge |
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At 30 April 2025 |
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Carrying amount |
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At 30 April 2025 |
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At 30 April 2024 |
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Morfeys Removals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
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Tangible assets |
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Office equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 May 2024 |
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Additions |
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Disposals |
( |
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At 30 April 2025 |
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Depreciation |
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At 1 May 2024 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
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( |
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At 30 April 2025 |
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Carrying amount |
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At 30 April 2025 |
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At 30 April 2024 |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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Morfeys Removals Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Director loan account |
186 |
186 |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Morfeys Removals Limited
for the Year Ended 30 April 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Morfeys Removals Limited for the year ended 30 April 2025 as set out on pages 3 to 11 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 at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Morfeys Removals Limited, as a body, in accordance with the terms of our engagement letter dated 15 January 2019. Our work has been undertaken solely to prepare for your approval the accounts of Morfeys Removals Limited and state those matters that we have agreed to state to the Board of Directors of Morfeys Removals Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morfeys Removals Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Morfeys Removals Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Morfeys Removals Limited. You consider that Morfeys Removals Limited 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 accounts of Morfeys Removals Limited. 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 accounts.
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Battle
East Sussex
TN33 0EE