Morton Homes Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07087827 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

FOR

MORTON HOMES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K J Bousfield

A J K Bousfield

R J N Bousfield

REGISTERED OFFICE:

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

REGISTERED NUMBER:

07087827 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

FIXED ASSETS

Tangible assets

2

2,950

3,471

CURRENT ASSETS

Stocks

1,375,000

Cash at bank and in hand

852

11,799

1,375,852

1,386,799

CREDITORS

Amounts falling due within one year

3

279,059

293,354

NET CURRENT ASSETS

1,096,793

1,093,445

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,099,743

1,096,916

CREDITORS

Amounts falling due after more than one
year

3

1,160,000

1,200,000

NET LIABILITIES

(60,257

)

(103,084

)

CAPITAL AND RESERVES

Called up share capital

4

150

Profit and loss account

(60,407

)

(103,234

)

SHAREHOLDERS' FUNDS

(60,257

)

(103,084

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 July 2016 and were signed on its behalf by:

K J Bousfield - Director

A J K Bousfield - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

As the company has continued financial support from the directors these accounts have been prepared on a going

concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

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 etc

-

15% on reducing balance

Stocks

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

moving items.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

6,750

DEPRECIATION

At 1 November 2014

3,279

Charge for year

521

At 31 October 2015

3,800

NET BOOK VALUE

At 31 October 2015

2,950

At 31 October 2014

3,471

3.

CREDITORS

Creditors include an amount of £ 1,200,000 (31.10.14 - £ 1,240,000 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.10.15

31.10.14

£

Repayable otherwise than by instalments

1,050,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

150

Ordinary

£1

150

5.	ULTIMATE PARENT COMPANY

Ashcourt Properties Limited is regarded by the directors as being the company's ultimate parent company.