Morris Builders (Aylesbury) Limited - Period Ending 2022-08-31
Morris Builders (Aylesbury) Limited - Period Ending 2022-08-31
Registration number:
Morris Builders (Aylesbury) Limited
for the Year Ended 31 August 2022
Morris Builders (Aylesbury) Limited
Contents
Statement of Directors' Responsibilities |
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Balance Sheet |
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Notes to the Financial Statements |
Morris Builders (Aylesbury) Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Morris Builders (Aylesbury) Limited
(Registration number: 00537701)
Balance Sheet as at 31 August 2022
Note |
2022 |
2021 |
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Fixed assets |
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Other financial assets |
2,264,690 |
2,515,974 |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Morris Builders (Aylesbury) Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Audit report
Revenue recognition
Turnover represents dividends receivable during the year. Turnover is shown net of sales/value added tax, credits, rebates and discounts.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Morris Builders (Aylesbury) Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
20% reducing balance |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Morris Builders (Aylesbury) Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Directors remuneration |
The amounts paid to directors by the company (including any benefits) during the year, was £nil (2020 - £nil).
Morris Builders (Aylesbury) Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
Fixed asset investments |
Investments |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 September 2021 |
2,515,974 |
2,515,974 |
Fair value adjustments |
(139,312) |
(139,312) |
Additions |
130,500 |
130,500 |
Disposals |
(242,472) |
(242,472) |
At 31 August 2022 |
2,264,690 |
2,264,690 |
Carrying amount |
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At 31 August 2022 |
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2,264,690 |
Debtors |
2022 |
2021 |
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Prepayments |
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- |
Other debtors |
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- |
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- |
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Taxation and social security |
- |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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19,850 |
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19,850 |
Morris Builders (Aylesbury) Limited
Notes to the Financial Statements for the Year Ended 31 August 2022
Dividends |
2022 |
2021 |
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£ |
£ |
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Final dividend of £ |
33,745 |
33,745 |
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Interim dividend of £ |
70,468 |
70,825 |
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104,213 |
104,570 |
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