E.T. Morris & Sons Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01330634 (England and Wales)

E.T. MORRIS & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTOR:

J B Morris

REGISTERED OFFICE:

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

REGISTERED NUMBER:

01330634 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

18 Northgate

Sleaford

Lincolnshire

NG34 7BJ

FIXED ASSETS

Tangible assets

4

2,681,672

2,361,739

CURRENT ASSETS

Stocks

137,291

58,644

Debtors

5

721,909

650,685

Cash at bank

99,649

62,106

958,849

771,435

CREDITORS

Amounts falling due within one year

6

1,674,157

1,375,467

NET CURRENT LIABILITIES

(715,308

)

(604,032

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,966,364

1,757,707

CREDITORS

Amounts falling due after more than one year

7

(733,960

)

(519,344

)

PROVISIONS FOR LIABILITIES

(122,602

)

(168,826

)

NET ASSETS

1,109,802

1,069,537

CAPITAL AND RESERVES

Called up share capital

10

3,360

Capital redemption reserve

1,440

Retained earnings

1,105,002

1,064,737

SHAREHOLDERS' FUNDS

1,109,802

1,069,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 May 2026 and were signed by:

J B Morris - Director

1.	STATUTORY INFORMATION

E.T. Morris & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised based on terms of the sale, either on despatch from the company or on delivery and acceptance by the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on reducing balance

Plant and machinery etc

-

33% on cost and at variable rates on reducing balance

The cost of tangible assets represents the invoice value of the assets, as well as other costs that are deemed necessary in order to bring the asset in to use.

Stocks

Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving and obsolete items.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Where assets are financed by leasing agreements that give rights approximating to ownership ('finance leases'), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as obligations to the lessor.

Lease payments are treated as consisting of capital and interest elements, and the interest is charged to profit or loss in proportion to the remaining balance outstanding.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the companies pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2025 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2025

26,716

3,559,903

3,586,619

Additions

-

1,071,934

Disposals

-

(598,256

)

(598,256

)

At 31 March 2026

26,716

4,033,581

4,060,297

DEPRECIATION

At 1 April 2025

26,716

1,198,164

1,224,880

Charge for year

-

393,431

Eliminated on disposal

-

(239,686

)

(239,686

)

At 31 March 2026

26,716

1,351,909

1,378,625

NET BOOK VALUE

At 31 March 2026

-

2,681,672

At 31 March 2025

-

2,361,739

The net book value of tangible fixed assets includes £ 1,745,135 (2025 - £ 1,253,353 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

603,715

525,702

Amounts owed by group undertakings

11,214

31,334

Other debtors

106,980

93,649

721,909

650,685

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts

338,069

399,897

Hire purchase contracts (see note 8)

482,574

328,762

Trade creditors

679,231

386,571

Taxation and social security

77,113

113,137

Other creditors

97,170

147,100

1,674,157

1,375,467

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

Bank loans

-

10,000

Hire purchase contracts (see note 8)

733,960

509,344

733,960

519,344

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2026

2025

£

Gross obligations repayable:

Within one year

544,643

374,039

Between one and five years

830,401

584,875

1,375,044

958,914

Finance charges repayable:

Within one year

62,069

45,277

Between one and five years

96,441

75,531

158,510

120,808

Net obligations repayable:

Within one year

482,574

328,762

Between one and five years

733,960

509,344

1,216,534

838,106

Non-cancellable

operating leases

2026

2025

£

Within one year

72,092

86,351

Between one and five years

38,320

80,413

110,412

166,764

The hire purchase contracts relate to lorries and trailers. The remaining lease terms are due within five years. At the end of the lease, title of the assets passes to the company.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

Bank overdrafts

338,069

349,897

Bank loans

-

60,000

338,069

409,897

There is a fixed and floating charge over the assets of the company in relation to the factoring facility.

The hire purchase contracts are secured on the assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

3,360

Ordinary

£1

3,360

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director £45,000 (2025: £74,429). The loan made from the director was unsecured, interest free and repayable on demand.