Morris Mercantile Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09847497 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

MORRIS MERCANTILE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S N Morris

REGISTERED OFFICE:

375 Eaton Road

West Derby

Liverpool

Merseyside

L12 2AH

REGISTERED NUMBER:

09847497 (England and Wales)

ACCOUNTANTS:

John Kerr - Chartered Accountants

375 Eaton Road

West Derby

Liverpool

Merseyside

L12 2AH

CURRENT ASSETS

Stocks

4,260

4,260

Debtors

4

2,645

2,745

Cash at bank

-

2,000

6,905

9,005

CREDITORS

Amounts falling due within one year

5

13,828

13,784

NET CURRENT LIABILITIES

(6,923

)

(4,779

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,923

)

(4,779

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(7,023

)

(4,879

)

SHAREHOLDERS' FUNDS

(6,923

)

(4,779

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 5 January 2023 and were signed by:

S N Morris - Director

1.	STATUTORY INFORMATION

Morris Mercantile 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 - going concern

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.

The company meets its day to day working capital requirements through interest free loans provided by the director. On the basis of the director's monitoring of the ongoing cash flow information and his intention to continue to provide ongoing financial support to the company, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the financing facilities by the director.

Stocks

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

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 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.

3.

EMPLOYEES

The average number of employees during the year was NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Other debtors

2,645

2,745

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans and overdrafts

8

-

Trade creditors

1,089

1,081

Taxation and social security

198

380

Other creditors

12,533

12,323

13,828

13,784