Company Registration No. 00503067 (England and Wales)
MORRIS & MCGINN,LIMITED
Unaudited accounts
for the year ended 31 December 2019
MORRIS & MCGINN,LIMITED
Unaudited accounts
Contents
MORRIS & MCGINN,LIMITED
Company Information
for the year ended 31 December 2019
Directors
RC McGinn
SF McGinn
Company Number
00503067 (England and Wales)
Registered Office
BROADMEADOW INDUSTRIAL ESTATE
BISHOPSTEIGNTON ROAD
TEIGNMOUTH
DEVON
TQ14 9AE
MORRIS & MCGINN,LIMITED
Statement of financial position
as at 31 December 2019
Tangible assets
109,490
117,468
Inventories
333,024
332,638
Cash at bank and in hand
200,434
178,277
Creditors: amounts falling due within one year
(165,096)
(225,128)
Net current assets
525,705
448,179
Net assets
635,195
565,647
Called up share capital
1,400
1,400
Revaluation reserve
76,006
76,006
Capital redemption reserve
600
600
Profit and loss account
557,189
487,641
Shareholders' funds
635,195
565,647
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 May 2020 and were signed on its behalf by
RC McGinn
Director
Company Registration No. 00503067
MORRIS & MCGINN,LIMITED
Notes to the Accounts
for the year ended 31 December 2019
MORRIS & MCGINN,LIMITED is a private company, limited by shares, registered in England and Wales, registration number 00503067. The registered office is BROADMEADOW INDUSTRIAL ESTATE, BISHOPSTEIGNTON ROAD, TEIGNMOUTH, DEVON, TQ14 9AE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
MORRIS & MCGINN,LIMITED
Notes to the Accounts
for the year ended 31 December 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2019
128,994
119,228
31,825
280,047
At 31 December 2019
128,994
120,182
31,825
281,001
At 1 January 2019
42,331
105,721
14,527
162,579
Charge for the year
2,580
2,892
3,460
8,932
At 31 December 2019
44,911
108,613
17,987
171,511
At 31 December 2019
84,083
11,569
13,838
109,490
At 31 December 2018
86,663
13,507
17,298
117,468
The freehold land and buildings cost £53,798.
They have been revalued by £71,202 : increased to £150,000 during the three years ended
31 December 1988 and subsequently reduced to £125,000 during the year ended
31 December 1998.
There have been subsequent additions totalling £1,068 to the freehold property and £2,926
additions to a leasehold property.
Finished goods
333,024
332,638
Trade debtors
152,373
157,422
7
Investments held as current assets
2019
2018
Unlisted investments
1,200
1,200
8
Creditors: amounts falling due within one year
2019
2018
Trade creditors
70,044
103,200
Taxes and social security
48,863
42,675
Other creditors
7,050
6,950
Loans from directors
39,139
72,303
MORRIS & MCGINN,LIMITED
Notes to the Accounts
for the year ended 31 December 2019
9
Average number of employees
During the year the average number of employees was 16 (2018: 15).
