MORRIS MINOR OWNERS CLUB LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M Stone

S F Mitchell

J G Carroll

Mrs S C Akrill

REGISTERED OFFICE:

18 Shaftesbury Street South

Sir Francis Ley Industrial Park

Derby

Derbyshire

DE23 8YH

REGISTERED NUMBER:

01532764 (England and Wales)

SENIOR STATUTORY AUDITOR:

Hari Vasdev MEng FCA

AUDITORS:

Sibbalds Limited

Chartered Accountants and Statutory Auditor

Sixth Floor

Cavendish Building

1 Agard Street

Derby

Derbyshire

DE1 1DZ

FIXED ASSETS

Tangible assets

4

199,359

198,310

Investments

5

405

405

Heritage assets

6

60,301

60,301

260,065

259,016

CURRENT ASSETS

Stocks

7

57,240

55,495

Debtors

8

45,146

22,087

Cash at bank and in hand

370,992

399,080

473,378

476,662

CREDITORS

Amounts falling due within one year

9

139,656

112,903

NET CURRENT ASSETS

333,722

363,759

TOTAL ASSETS LESS CURRENT LIABILITIES

593,787

622,775

RESERVES

Revaluation reserve

10

51,265

51,265

Reserve on acquisition

4,287

4,287

Income and expenditure account

538,235

567,223

593,787

622,775

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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 17 April 2026 and were signed on its behalf by:

S F Mitchell - Director

1.	STATUTORY INFORMATION

Morris Minor Owners Club Limited is a private company, limited by guarantee , 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Morris Minor Owners Club Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

Turnover represents the amounts derived from the provision of goods and services to members and other customers during the year, together with income from events and members' subscriptions which are recognised over the period to which it relates.

Tangible fixed assets

Tangible fixed assets are valued under the revaluation model, where an item of property, plant and equipment whose fair value can be measured reliably shall be carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost

Plant and machinery - 20% on cost

Computer equipment - 25% on cost

Land is not depreciated.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Heritage assets

Club owned vehicles and the donated model car set which are held by the club are shown as heritage assets as they are considered to have historic and technological qualities and are held and maintained primarily for their contribution to knowledge and culture.

Club owned vehicles included in heritage assets are valued under the revaluation model.

Vehicle restorations included in heritage assets are valued under the cost model.

The model car set included in heritage assets is valued under the revaluation model.

The vehicles held within heritage assets are subject to ongoing maintenance and are generally used for publicity events.

The restoration of heritage assets is funded by donations made to the company.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost represents the invoiced cost of regalia on a first in first out basis and spares on an average cost basis.

Deferred income

Deferred income represents income collected but not earned as at the balance sheet date. This is primarily composed of income from members' subscriptions which are credited to the income statement over the period to which it relates.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2025

210,000

32,852

31,640

274,492

Additions

-

4,007

3,708

7,715

At 31 December 2025

210,000

36,859

35,348

282,207

DEPRECIATION

At 1 January 2025

13,650

31,150

31,382

76,182

Charge for year

4,200

1,373

1,093

6,666

At 31 December 2025

17,850

32,523

32,475

82,848

NET BOOK VALUE

At 31 December 2025

192,150

4,336

2,873

199,359

At 31 December 2024

196,350

1,702

258

198,310

Freehold land and buildings were valued on a fair value basis on 12th October 2021 by RICS registered valuers, David Brown Commercial. The Directors consider this to show a true reflection of the land and buildings current market value.

If the freehold land and buildings had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

203,849

203,849

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

405

NET BOOK VALUE

At 31 December 2025

405

At 31 December 2024

405

6.	HERITAGE ASSETS

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

60,301

NET BOOK VALUE

At 31 December 2025

60,301

At 31 December 2024

60,301

Fair value at 31 December 2025 is represented by:

£

Valuation in 2017

12,559

Valuation in 2020

(198

)

Valuation in 2023

8,000

Cost

39,940

60,301

The following groups are included within Heritage assets:

Measurement

2025

2024

basis

£

£

Club owned vehicles

Valuation model

47,000

47,000

Vehicle restorations

Cost model

801

801

Model car collection

Valuation model

12,500

12,500

60,301

60,301

The club owned vehicles were valued on a fair value basis by the club's insurance provider, Peter James on 10/09/2025.The Directors consider this to show a true reflection of the current market value of the vehicles.

If the club owned vehicles had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

41,543

41,543

The model car collection was valued on a fair value basis by a experienced and independent external valuer on 02/01/2025.The Directors consider this to show a true reflection of the current market value of the model car collection.

If the model car collection had not been revalued it would be included at the following historical cost:

2025

2024

£

£

Cost

351

351

7.

STOCKS

2025

2024

£

£

Stock of spares

38,674

38,500

Stock of regalia

14,809

14,394

Stock of stationery

3,757

2,601

57,240

55,495

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

429

2,741

Other debtors

44,717

19,346

45,146

22,087

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

38,186

16,140

Taxation and social security

2,125

(1,182

)

Other creditors

99,345

97,945

139,656

112,903

10.

RESERVES

Revaluation

reserve

£

At 1 January 2025

and 31 December 2025

51,265

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hari Vasdev MEng FCA (Senior Statutory Auditor)

for and on behalf of Sibbalds Limited

12.	RELATED PARTY DISCLOSURES

During the year, a related company of one of the directors provided magazine editorial services to the club totalling £14,497 (2024: £13,679).

13.	LIMITED BY GUARANTEE

The company has no share capital and is limited by guarantee. Each member is obliged to contribute up to a maximum of £1 towards the club's general debts on it being wound up.

14.	RESERVE ON ACQUISITION

The company took over the running of the Morris Minor Owner's Club 1948-71 on 6 December 1980 and accepted the assets and liabilities of the club at that time. The reserve on acquisition represents the excess of book value of assets over liabilities of the club as at 6 December 1980.