H. Morris & Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00133248 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

H. MORRIS & COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Robert H Morris

George F McGraw

SECRETARY:

Robert H Morris

REGISTERED OFFICE:

Suite 1, 3rd floor

11-12 St. James's Square

London

SW1Y 4LB

REGISTERED NUMBER:

00133248 (England and Wales)

ACCOUNTANTS:

Bannerman Johnstone Maclay

Chartered Accountants

213 St Vincent Street

Glasgow

G2 5QY

BANKERS:

Clydesdale Bank plc

Head Office

30 St Vincent Place

Glasgow

G1 2HL

SOLICITORS:

MacRoberts LLP

Capella

60 York Street

Glasgow

G2 8JX

FIXED ASSETS

Tangible assets

4

11,254,954

11,194,520

Investments

5

2

2

11,254,956

11,194,522

CURRENT ASSETS

Stocks

298,379

243,749

Debtors

6

5,593,376

5,338,866

Cash at bank

19,642

11,943

5,911,397

5,594,558

CREDITORS

Amounts falling due within one year

7

5,042,085

4,616,816

NET CURRENT ASSETS

869,312

977,742

TOTAL ASSETS LESS CURRENT LIABILITIES

12,124,268

12,172,264

CREDITORS

Amounts falling due after more than one year

8

(332,000

)

(332,000

)

ACCRUALS AND DEFERRED INCOME

(9,778,405

)

(9,778,405

)

NET ASSETS

2,013,863

2,061,859

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

1,913,863

1,961,859

SHAREHOLDERS' FUNDS

2,013,863

2,061,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 October 2018 and were signed on its behalf by:

Robert H Morris - Director

1.	STATUTORY INFORMATION

H. Morris & Company 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 the provisions of Section 1A "Small Entities" 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 cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about H. Morris & Company Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company is exempt under

Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it

and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its

parent, Neidpath Investment Company Limited, .

Turnover

Turnover represents the total invoice value, excluding value added tax, of goods sold and services rendered

during the year.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 20% on cost and 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of the transaction. Exchange differences are taken into the profit and loss account for the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2017

11,630,395

479,162

12,109,557

Additions

141,253

11,355

152,608

Disposals

-

(32,446

)

(32,446

)

At 31 January 2018

11,771,648

458,071

12,229,719

DEPRECIATION

At 1 February 2017

533,020

382,017

915,037

Charge for year

58,840

19,891

78,731

Eliminated on disposal

-

(19,003

)

(19,003

)

At 31 January 2018

591,860

382,905

974,765

NET BOOK VALUE

At 31 January 2018

11,179,788

75,166

11,254,954

At 31 January 2017

11,097,375

97,145

11,194,520

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2017

and 31 January 2018

2

NET BOOK VALUE

At 31 January 2018

2

At 31 January 2017

2

The company have disposed of their investment in Nathan Furniture Group Limited during the year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

88,596

88,200

Amounts owed by group undertakings

298,133

304,610

Amounts owed by related undertakings

1,903,280

1,794,931

Other debtors

3,303,367

3,151,125

5,593,376

5,338,866

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

5,056

Trade creditors

4,368

97,128

Amounts owed to group undertakings

4,069,659

4,069,659

Taxation and social security

3,056

840

Other creditors

965,002

444,133

5,042,085

4,616,816

Bank facilities are secured by a counter indemnity and floating charges over the company's properties at 147

Drakemire Drive, Glasgow and Glenmill Works, Lennoxtown.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

332,000

332,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

2,000

2,000

9.	ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Neidpath Investment Company Limited, a company incorporated in

Scotland.