Morley Skips Ltd,Ltd - AccountsLtd - Accounts

Morley Skips Ltd,Ltd - AccountsLtd - Accounts

MORLEY SKIPS LTD - Company Information

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2020-01-01 05998399 2020-12-31 05998399 2020-01-01 2020-12-31 05998399 2019-12-31 05998399 2019-01-01 2019-12-31 05998399 uk-core:WithinOneYear 2019-12-31 05998399 uk-core:WithinOneYear 2020-12-31 05998399 uk-core:AfterOneYear 2019-12-31 05998399 uk-core:AfterOneYear 2020-12-31 05998399 uk-core:ShareCapital 2020-12-31 05998399 uk-core:ShareCapital 2019-12-31 05998399 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 05998399 uk-core:RetainedEarningsAccumulatedLosses 2019-12-31 05998399 uk-bus:Director1 2020-01-01 2020-12-31 05998399 uk-core:NetGoodwill 2020-01-01 2020-12-31 05998399 uk-core:PlantMachinery 2020-01-01 2020-12-31 05998399 uk-core:OfficeEquipment 2020-01-01 2020-12-31 05998399 uk-core:VehiclesPlantMachinery 2020-01-01 2020-12-31 05998399 uk-core:Goodwill 2019-12-31 05998399 uk-core:Goodwill 2020-12-31 05998399 uk-core:OfficeEquipment 2019-12-31 05998399 uk-core:PlantMachinery 2019-12-31 05998399 uk-core:LeaseholdImprovements 2019-12-31 05998399 uk-core:LeaseholdImprovements 2020-01-01 2020-12-31 05998399 uk-core:LeaseholdImprovements 2020-12-31 05998399 uk-core:PlantMachinery 2020-12-31 05998399 uk-core:OfficeEquipment 2020-12-31 05998399 uk-core:WithinOneYear uk-core:Secured 2020-12-31 05998399 uk-core:WithinOneYear uk-core:Secured 2019-12-31 iso4217:GBP xbrli:pure 05998399 uk-bus:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 05998399 uk-bus:FRS102 2020-01-01 2020-12-31 05998399 uk-bus:FullAccounts 2020-01-01 2020-12-31 05998399 uk-bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31
Morley Skips Ltd
Registered Number:05998399
For the year ended 31 December 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2020
Morley Skips Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
05998399
As at 31 December 2020
Morley Skips Ltd
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
512,861
414,677
3
512,861
414,677
Current assets
Trade and other receivables
147,691
151,321
4
18,731
Cash and cash equivalents
99,810
251,131
166,422
Trade and other payables: amounts falling due within one year
(222,617)
(189,772)
5
(56,195)
61,359
Net current assets
Total assets less current liabilities
574,220
358,482
Trade and other payables: amounts falling due after more than one
year
(223,287)
(366,132)
6
(83,162)
(64,832)
Provisions for liabilities
124,926
Net assets
70,363
Capital and reserves
Called up share capital
60
60
Retained earnings
124,866
70,303
124,926
70,363
Shareholders' funds
For the year ended 31 December 2020 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 of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr C P Morley Director
These financial statements were approved and authorised for issue by the Board on 31 August 2021 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2020
Morley Skips Ltd
Notes to the Financial Statements
Statutory Information
Morley Skips Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number 05998399.
Registered address:
Woodcote
Park Farm
Tolleshunt Knights
Maldon Essex
CM9 8HB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial
statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, was amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% / 20% Reducing balance
20% Reducing balance
Office equipment
20% Reducing balance
Motor vehicles
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 31 December 2020
Morley Skips Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 January 2020
30,000
At 31 December 2020
30,000
Amortisation
At 01 January 2020
30,000
At 31 December 2020
30,000
Net book value
At 31 December 2020
-
At 31 December 2019
-
3. Property, plant and equipment
Total
Office
equipment
Plant and
machinery
Land and
buildings
£
£
£
£
Cost or valuation
At 01 January 2020
837,875
5,333
759,085
73,457
232,709
817
230,182
1,710
Additions
-
(107,500)
-
Disposals
(107,500)
At 31 December 2020
75,167
881,767
6,150
963,084
Provision for depreciation and impairment
At 01 January 2020
423,198
2,923
420,275
-
Charge for year
105,100
642
104,458
-
(78,075)
-
(78,075)
-
On disposal
At 31 December 2020
450,223
3,565
446,658
-
At 31 December 2020
Net book value
75,167
435,109
2,585
512,861
At 31 December 2019
73,457
338,810
2,410
414,677
4. Trade and other receivables
2019
2020
£
£
Trade debtors
114,053
80,263
Other debtors
37,268
67,428
147,691
151,321
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6
For the year ended 31 December 2020
Morley Skips Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Bank loans and overdraft (secured)
22,166
22,166
Trade creditors
53,694
77,478
Taxation and social security
22,338
12,035
Other creditors
91,574
110,938
189,772
222,617
6. Trade and other payables: amounts falling due after more than one year
2019
2020
£
£
Bank loans and overdraft (secured)
182,606
92,261
Other creditors
183,526
131,026
366,132
223,287
7. Guarantees and other financial commitments
Guarantees and contingent assets and liabilities
A Fixed and Floating charge was registered against the Company assets by Barclays Security Trustee Limited on 7 October
2020.
8. Average number of persons employed
During the year the average number of employees was 14 (2019 : 10)
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