Morris Joint - Line Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05440510 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th April 2020

for

MORRIS JOINT - LINE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

P Morris

Mrs G A Morris

SECRETARY:

Mrs G A Morris

REGISTERED OFFICE:

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

REGISTERED NUMBER:

05440510 (England and Wales)

ACCOUNTANTS:

Jacquards

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

336

448

336

448

CURRENT ASSETS

Stocks

5,475

5,475

Debtors

6

17,133

70,837

Cash at bank and in hand

28,622

26,033

51,230

102,345

CREDITORS

Amounts falling due within one year

7

44,136

101,308

NET CURRENT ASSETS

7,094

1,037

TOTAL ASSETS LESS CURRENT LIABILITIES

7,430

1,485

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7,330

1,385

SHAREHOLDERS' FUNDS

7,430

1,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th April 2021 and were signed on its behalf by:

P Morris - Director

Mrs G A Morris - Director

1.	STATUTORY INFORMATION

Morris Joint - Line 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.

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 represents net invoiced sale of materials and services, excluding value added tax, except in the case of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery - 25% reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st May 2019

and 30th April 2020

45,160

AMORTISATION

At 1st May 2019

and 30th April 2020

45,160

NET BOOK VALUE

At 30th April 2020

-

At 30th April 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st May 2019

and 30th April 2020

6,073

DEPRECIATION

At 1st May 2019

5,625

Charge for year

112

At 30th April 2020

5,737

NET BOOK VALUE

At 30th April 2020

336

At 30th April 2019

448

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

10,159

53,925

Other debtors

6,974

16,912

17,133

70,837

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

18,181

Trade creditors

10,449

38,692

Taxation and social security

10,881

24,860

Other creditors

22,806

19,575

44,136

101,308

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th April 2020 and 30th April 2019:

2020

2019

£

£

P Morris

Balance outstanding at start of year

4,969

-

Amounts advanced

-

4,969

Amounts repaid

(4,969

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

4,969

Mrs G A Morris

Balance outstanding at start of year

4,969

-

Amounts advanced

-

4,969

Amounts repaid

(4,969

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

4,969

Advances to directors have no interest or repayment terms attaching.

9.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morris Joint - Line Limited for the year ended 30th April 2020 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Morris Joint - Line Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Morris Joint - Line Limited and state those matters that we have agreed to state to the Board of Directors of Morris Joint - Line Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morris Joint - Line Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Morris Joint - Line Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Morris Joint - Line Limited. You consider that Morris Joint - Line Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Morris Joint - Line Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jacquards

2 Burton House

Repton Place

White Lion Road

Amersham

Buckinghamshire

HP7 9LP

26th April 2021