Company No: 03533003 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	8,980		35,135
Tangible assets	4	1,669,257		1,838,518
Investments	5	15		15
		1,678,252		1,873,668
Current assets
Stocks	6	515,023		522,438
Debtors	7	1,776,649		1,398,054
Cash at bank and in hand		634,576		618,393
		2,926,248		2,538,885
Creditors: amounts falling due within one year	8	( 851,869)		( 564,380)
Net current assets		2,074,379		1,974,505
Total assets less current liabilities		3,752,631		3,848,173
Creditors: amounts falling due after more than one year	9	( 1,372,863)		( 1,455,869)
Provision for liabilities		( 130,233)		( 166,514)
Net assets		2,249,535		2,225,790
Capital and reserves
Called-up share capital		2		2
Profit and loss account		2,249,533		2,225,788
Total shareholders' funds		2,249,535		2,225,790

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of M and R Morton Limited (registered number: 03533003) were approved and authorised for issue by the Board of Directors on 10 April 2026. They were signed on its behalf by:

M G E Morton Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

M and R Morton Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sheep Dip Joan's Acre Lane, Hinton Ampner, Alresford, SO24 0LF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current 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 corporation 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
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

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:

Goodwill	10 years straight line
Website costs	33 % reducing balance
Other intangible assets	3 years straight line

Goodwill

Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Tangible fixed 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.

Land and buildings	10 % reducing balance
Plant and machinery	25 % reducing balance

Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Livestock and crops in store are valued at 75% of market value. Flower stocks are valued at cost less provision for diminution in value. All other stocks are valued at net realisable value.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments

The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	29		28

3. Intangible assets

	Goodwill		Website costs		Other intangible assets		Total
	£		£		£		£
Cost
At 01 October 2024	98,065		47,738		65,000		210,803
At 30 September 2025	98,065		47,738		65,000		210,803
Accumulated amortisation
At 01 October 2024	98,064		34,270		43,334		175,668
Charge for the financial year	0		4,489		21,666		26,155
At 30 September 2025	98,064		38,759		65,000		201,823
Net book value
At 30 September 2025	1		8,979		0		8,980
At 30 September 2024	1		13,468		21,666		35,135

4. Tangible assets

	Land and buildings		Plant and machinery		Total
	£		£		£
Cost
At 01 October 2024	1,679,657		2,330,868		4,010,525
Additions	0		23,882		23,882
At 30 September 2025	1,679,657		2,354,750		4,034,407
Accumulated depreciation
At 01 October 2024	419,932		1,752,075		2,172,007
Charge for the financial year	45,289		147,854		193,143
At 30 September 2025	465,221		1,899,929		2,365,150
Net book value
At 30 September 2025	1,214,436		454,821		1,669,257
At 30 September 2024	1,259,725		578,793		1,838,518

Included within the net book value of land and buildings above is £1,155,576 (2024 - £1,194,324) in respect of freehold land and buildings and £58,860 (2024 - £65,401) in respect of short leasehold land and buildings.

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 October 2024	15		15
At 30 September 2025	15		15
Carrying value at 30 September 2025	15		15
Carrying value at 30 September 2024	15		15

6. Stocks

	2025		2024
	£		£
Stocks	248,469		219,276
Livestock	83,305		107,205
Other stock	183,249		195,957
	515,023		522,438

7. Debtors

	2025		2024
	£		£
Trade debtors	498,223		224,640
Amounts owed by directors	130,540		129,642
Prepayments	960,590		890,251
Other debtors	187,296		153,521
	1,776,649		1,398,054

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	73,587		64,167
Trade creditors	429,781		213,510
Accruals	54,497		21,462
Taxation and social security	279,368		265,241
Other creditors	14,636		0
	851,869		564,380

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	1,372,863		1,455,869

The loans within the company are secured via fixed and floating charges relating to the assets they relate and the assets of the company as a whole.

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Opening	129,642		36,683
Advances	190,898		276,019
Repayments	(190,000)		(183,060)
Closing	130,540		129,642

This loan has no security and no fixed repayment terms. It is repayable on demand from the company.