Company No:
Contents
| DIRECTORS | Mr A S Dyer |
| Mrs L M Dyer | |
| Mr R R Morris |
| REGISTERED OFFICE | C/O Francis Clark Llp Melville Building East |
| Royal William Yard | |
| Plymouth | |
| PL1 3RP | |
| United Kingdom |
| COMPANY NUMBER | 03725924 (England and Wales) |
| AUDITOR | PKF Francis Clark |
| Statutory Auditor | |
| Unit 18, 23 Melville Building East | |
| Royal William Yard | |
| Plymouth | |
| Devon | |
| PL1 3GW |
The directors present their Strategic Report for the financial year ended 30 April 2025.
PRINCIPAL ACTIVITY
The principal activity of Morris Engineering Limited (company number 03725924) is precision CNC engineering and component manufacturing,
The company specialises in providin precision engineering services for a range of demanding industries, ncluding:
* Aerospace
* Defence
* Medical
* Electronics
* Oil & Gas
FAIR REVIEW OF THE BUSINESS
Turnover for the financial year amounted to £6,228,394 (2024: £5,248,871). The Company earned a profit after taxation totalling £377,950(2024: £117,680).
The net current asset position of the Company as at the financial year end amounted to £2,334,140 (2024: net current asset £2,107,427).
The net asset position of the Company as at the financial year end amounted to £3,440,941 (2024: net asset £3,273,007).
PRINCIPAL RISKS AND UNCERTAINTIES
The company is exposed to a variety of financial risks, the most significant of which are credit and liquidity risk. The policy towards these financial risks is determined by the directors and then adopted and enforced by the management team.
FINANCIAL RISK MANAGEMENT AND OBJECTIVES AND POLICIES LIQUIDITY RISK
The companies trading activities do expose the group to various risks, the most significant of which are linked to liquidity and cash flow. To mitigate these risks the group carefully controls costs and manages cash and stock levels through forecasting and budgeting in real time to mitigate as much risk as possible. Our experienced management team ensures that the company can quickly adapt strategy as and when required.
CREDIT RISK
The company continues to maintain strong relationships with all its key customers and has established strong and considered credit control parameters with them.
Approved by the Board of Directors and signed on its behalf by:
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Mr A S Dyer
Director |
The directors present their annual report on the affairs of the Company, together with the financial statements and auditors’ report, for the financial year ended 30 April 2025.
DIRECTORS
The directors, who served during the financial year and to the date of this report except as noted, were as follows:
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DISCLOSURE OF INFORMATION TO THE AUDITORS
Each of the persons who is a director at the date of approval of this report confirms that:
* So far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
* The director has taken all the steps that they ought to have taken as a director in order to make himself/herself aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.
PKF Francis Clark have expressed their willingness to continue in office as auditor and appropriate arrangements have been put in place for them to be deemed reappointed as auditors in the absence of an Annual General Meeting.
Approved by the Board of Directors and signed on its behalf by:
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Mr A S Dyer
Director |
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that financial period.
In preparing these financial statements, the directors are required to:
* Select suitable accounting policies and then apply them consistently;
* Make judgements and accounting estimates that are reasonable and prudent;
* State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
* Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Report on the audit of the financial statements
We have audited the financial statements of Morris Engineering Limited for the financial year ended 30 April 2025, which comprise the Statement of Changes in Equity, the Balance Sheet, the accounting policies, and the related notes, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements of Morris Engineering Limited (the ‘Company’):
* Give a true and fair view of the state of the Company's affairs as at 30 April 2025 and of its profit for the financial year then ended;
* Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"; and
* Have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Morris Engineering Limited was eligible for audit exemption for the period to 30 April 2024. Accordingly the financial statements for the period, which are the comparative figures for the period ended 30 April 2025, were not subject to an audit.
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Report on other legal and regulatory requirements
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
* The information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
* The Strategic Report and Directors' Report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the the Strategic Report and Director's Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
* We have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
* We were unable to determine whether adequate accounting records have been kept.
* Certain disclosures of director's remuneration specified by law are not made; or
* We have not received all the information and explanations we require for our audit.
As explained more fully in the Director's Responsibilities Statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to acts by the company which were contrary to applicable laws and regulations, including fraud.
We considered those laws and regulations that have a direct impact on the preparation of the financial statements, including, but not limited to the reporting framework (FRS 102 and the Companies Act). We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to fraudulent financial reporting. Audit procedures performed by the engagement team include, but were not limited to, discussion and inquiries with management of compliance with laws and regulations, review of VAT and corporation tax compliance and review of income recognition and cut-off. We also addressed the risk of management override of internal controls, including testing of journals and evaluating whether there was evidence of bias by management that represented a risk of material misstatement due to fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation.
In response to the identified risk, as part of our audit work we:
- Used data analytics to test journal entries throughout the year and year end adjustments, for
appropriateness;
- Reviewed estimates and judgements made in the accounts for any indication of bias and challenged
assumptions used by management in making the estimates; and
A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
For and on behalf of
Statutory Auditor
Royal William Yard
Plymouth
Devon
PL1 3GW
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Restated - note 3 | ||||
| Turnover | 4 |
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| Cost of sales | (
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| Operating profit |
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| Interest receivable and similar income | 5 |
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| Interest payable and similar expenses | 5 | (
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| Profit before taxation | 6 |
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| Tax on profit | 10 | (
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| Retained earnings at the beginning of financial year |
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| Profit for the financial year |
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| Dividends declared and paid | (
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| Note | 2025 | 2024 | ||
| £ | £ | |||
| Restated - note 3 | ||||
| Fixed assets | ||||
| Tangible assets | 12, 22 |
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| 3,285,710 | 2,781,018 | |||
| Current assets | ||||
| Stocks | 13 |
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| Debtors | ||||
| - due within one year | 14 |
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| - due after more than one year | 14 |
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| Cash at bank and in hand | 15 |
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| 3,535,869 | 3,436,284 | |||
| Creditors: amounts falling due within one year | 16 | (
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| Net current assets | 2,334,140 | 2,107,427 | ||
| Total assets less current liabilities | 5,619,850 | 4,888,445 | ||
| Creditors: amounts falling due after more than one year | 17 | (
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| Provision for liabilities | 18 | (
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| Net assets | 3,440,941 | 3,273,007 | ||
| Capital and reserves | 19 | |||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholder's funds | 3,440,941 | 3,273,007 |
The financial statements of Morris Engineering Limited (registered number:
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Mr A S Dyer
Director |
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.
Morris Engineering 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 C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.
The principal activities are set out in the Strategic Report.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Financial Reporting Standard 102 (FRS 102) applicable in the UK and Republic of Ireland issued by the Financial Reporting Council and the requirements of the Companies Act 2006.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
During the year the directors identified that the preference shares redeemed and stock had been reported incorrectly in the year ending 30 April 2024. See details of this in note 3.
Defined contribution schemes
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.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the Balance Sheet date. Timing differences are differences between the Company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
When the amount that can be deducted for tax for an asset that is recognised in a business combination is less (more) than the value at which it is recognised, a deferred tax liability (asset) is recognised for the additional tax that will be paid (avoided) in respect of that difference. Similarly, a deferred tax asset (liability) is recognised for the additional tax that will be avoided (paid) because of a difference between the value at which a liability is recognised and the amount that will be assessed for tax.
Deferred tax liabilities are recognised for timing differences arising from investments in subsidiaries and associates, except where the Company is able to control the reversal of the timing difference and it is probable that it will not reverse in the foreseeable future.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply to the reversal of the timing difference. Deferred tax relating to property, plant and equipment is measured using the revaluation model and investment property is measured using the tax rates and allowances that apply to the sale of the asset.
Where items recognised in the Statement of Comprehensive Income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income.
Current tax assets and liabilities are offset only when there is a legally enforceable right to set off the amounts and the Company intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. Deferred tax assets and liabilities are offset only if: a) the Company has a legally enforceable right to set off current tax assets against current tax liabilities; and b) the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on the Company and the Company intends either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.
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The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
FRS 102 grants a qualifying entity exemptions from the full requirements of FRS102. The following exemptions have been taken in these financial statements as the company is deemed to be a qualifying entity.
The company has taken advantage of the exemption, under FRS102 paragraph 1.12(b), from preparing a Statement of Cash Flows on the basis that it is a qualifying entity and its ultimate parent company, Morris Engineering New Holdco Limited, included the company's cash flows in its own consolidated financial statements. The company is also taking exemption from disclosure of key management personnel compensation and exemption from disclosure of related party transactions entered into between the company and other members of the Morris Engineering Limited group.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial year in which the estimate is revised if the revision affects only that financial year, or in the financial year of the revision and future financial years if the revision affects both current and future financial years.
Key source of estimation uncertainty
Carrying value of fixed assets (note 11)
Management have carefully considered the depreciation estimates applied on the tangible assets held by the group and company. This assessment is performed on an annual basis and would be amended when necessary to reflect current estimates based on technological advancements, future investments, economic utilisation and physical condition of each asset. The directors have considered the current trading performance for the year to 30 April 2025 which does not indicate any impairment to the business or underlying assets.
The carrying value of tangible fixed assets at the balance sheet date is £3,285,710 (2024 - £2,781,018), with depreciation being recognised in the year of £345,466 (2024 - £281,329).
During the year ended 30 April 2025 the directors identified that accrued income has historically been incorrectly classified as work in progress and subsequently resulted in closing stock in the profit and loss account being overstated and revenue being understated by the same amount. The error has been corrected in the comparatives by taking into account both opening and closing accrued income in the 2024 profit and loss account. Please note that there has been no impact on the reserves as part of this adjustment. The impact of this restatement is summarised below:
| As previously reported | Adjustment | As restated | ||||
| Year ended 30 April 2024 | £ | £ | £ | |||
| Stocks | 753,464 | (540,413) | 213,051 | |||
| Debtors | 2,634,164 | 540,413 | 3,174,577 | |||
| Cost of sales | 3,508,786 | 224,949 | 3,733,735 | |||
| Turnover | (4,708,458) | (224,949) | (4,933,407) |
Breakdown by business class
An analysis of the Company's turnover by class of business is set out below.
| 2025 | 2024 | ||
| £ | £ | ||
| Sales | 5,751,095 | 4,563,252 | |
| Foreign Sales | 440,449 | 346,159 | |
| Miscellaneous Income | 36,850 | 23,996 | |
| 6,228,394 | 4,933,407 |
Breakdown by geographical market:
An analysis of the Company's turnover by geographical market is set out below.
| 2025 | 2024 | ||
| £ | £ | ||
| UK | 5,787,945 | 4,587,248 | |
| Rest of world | 440,449 | 346,159 | |
| 6,228,394 | 4,933,407 |
| 2025 | 2024 | ||
| £ | £ | ||
| Interest receivable and similar income |
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| Interest payable and similar expenses | (
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| (110,352) | (81,572) |
Profit before taxation is stated after charging/(crediting):
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| £ | £ | ||
| Depreciation of tangible fixed assets (note 12) |
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| Operating lease rentals |
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An analysis of the auditor's remuneration is as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Fees payable to the Company’s auditor and its associates for the audit of the Company's annual financial statements: | 15,000 | 0 | |
| 0 | 0 | ||
| Total audit fees |
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| 2025 | 2024 | ||
| Number | Number | ||
| The average monthly number of employees (including directors) was: | |||
| Management |
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Their aggregate remuneration comprised:
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| £ | £ | ||
| Wages and salaries |
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| Social security costs |
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| Other retirement benefit costs |
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| 2,193,955 | 1,928,882 |
| 2025 | 2024 | ||
| £ | £ | ||
| Directors' emoluments |
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| £ | £ | ||
| Current tax on profit | |||
| UK corporation tax | (
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| Total current tax | (
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| Deferred tax | |||
| Origination and reversal of timing differences |
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| Total deferred tax |
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| Total tax on profit |
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The tax assessed for the year is higher than (2024: lower than) the standard rate of corporation tax in the UK:
| 2025 | 2024 | ||
| £ | £ | ||
| Profit before taxation | 504,483 | 135,160 | |
| Tax on profit at standard UK corporation tax rate of 25% (2024: 25%) |
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| Effects of: | |||
| Expenses not deductible for tax purposes |
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| Prior year tax adjustment | (135) | 1,312 | |
| Effect of R&D claims | 0 | (22,773) | |
| Total tax charge for year | 126,533 | 17,480 |
| Goodwill | Other intangible assets | Total | |||
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| Cost | |||||
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| Net book value | |||||||||
| At 30 April 2025 | 3,240,822 | 0 | 42,660 | 2,228 | 3,285,710 | ||||
| At 30 April 2024 | 2,731,857 | 0 | 45,480 | 3,681 | 2,781,018 |
Assets held under finance leases
Please see note 21 for assets held under finance leases and hire purchase contracts.
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| Stocks |
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| Work in progress |
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| Debtors: amounts falling due within one year | |||
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| Amounts owed by Group undertakings (note 21) |
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| Amounts owed by related parties (note 21) |
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| Prepayments and accrued income |
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| Amounts owed by directors (note 21) |
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| Debtors: amounts falling due after more than one year | |||
| Other debtors |
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| Cash at bank and in hand |
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| £ | £ | ||
| Obligations under finance leases and hire purchase contracts |
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| Trade creditors |
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| Amounts owed to Parent undertakings (note 21) |
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| Payroll taxes payable |
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| Taxation and social security |
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| VAT |
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| Accruals |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Obligations under finance leases and hire purchase contracts (secured) |
|
|
|
| Amounts owed to Group undertakings (note 21) |
|
|
|
|
|
|
| Finance leases | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Between one and two years |
|
|
|
| Between two and five years |
|
|
|
| After five years |
|
|
|
|
|
|
||
| On demand or within one year |
|
|
|
| 1,102,115 | 800,917 |
| Deferred taxation | Other | Total | |||
| £ | £ | £ | |||
| At 01 May 2024 |
|
|
628,475 | ||
| Charged to the Statement of Income and Retained Earnings |
|
|
126,668 | ||
| At 30 April 2025 |
|
|
755,143 | ||
Deferred tax
| 2025 | 2024 | ||
| £ | £ | ||
| Accelerated capital allowances |
|
|
|
| Provision for deferred tax |
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
|
| Presented as follows: | |||
| Called-up share capital presented as equity | 2 | 2 |
The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.
Commitments
Capital commitments are as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Contracted for but not provided for: | |||
| Tangible fixed assets | 180,780 | 0 |
Before the year end, Morris Engineering entered into a contract for capital expenditure of £180,780 (2024: £Nil) which has not been provided for in the financial statements. This relates to the purchase of new plant and machinery.
All assets owned by the company are held as security formally charged to the bank.
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| within one year |
|
|
|
| between one and five years |
|
|
|
| Total future minimum lease payments under non-cancellable operating leases |
|
|
Payments made in regards to operating leases were £6,085.
The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.
Transactions with the entity’s directors (or members of its governing body)
Amounts owed by directors
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by director 1 | 327 | 3,373 | |
| Amounts owed by director 2 | 1,010 | 0 | |
|
|
|
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
| 2025 | 2024 | ||
| £ | £ | ||
| Plant and equipment | 3,240,822 | 2,731,857 | |
| Fixtures and fittings | 42,660 | 45,480 | |
| Computer equipment | 2,228 | 3,681 | |
| 3,285,710 | 2,781,018 |
Parent Company:
|
|
| The registered office of Morris Engineering New Holdco Limited is C/O PKF Francis Clark Melville Building East, Royal William Yard, Plymouth, United Kingdom, PL1 3RP |
Parent of largest and smallest group for which group accounts are drawn up:
Morris Engineering New Holdco Limited
The registered office of Morris Engineering New Holdco Limited is C/O PKF Francis Clark Melville Building East, Royal William Yard, Plymouth, United Kingdom, PL1 3RP