Registration number:
Morris Estates Limited
for the Year Ended 30 June 2017
102 Fulham Palace Road
London
W6 9PL
Morris Estates Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Morris Estates Limited
Company Information
Directors |
Mr Stuart Morris Mr Graham Morris |
Registered office |
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Accountants |
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Page 1 |
Morris Estates Limited
(Registration number: 02889380)
Balance Sheet as at 30 June 2017
Note |
2017 |
2016 |
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Current assets |
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Debtors |
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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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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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 and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Morris Estates Limited
(Registration number: 02889380)
Balance Sheet as at 30 June 2017
Approved and authorised by the
.........................................
Mr Stuart Morris
Director
.........................................
Mr Graham Morris
Director
Page 3 |
Morris Estates Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
General information |
The company is a private company limited by share capital, incorporated in England .
The address of its registered office is:
England
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
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.
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.
Page 4 |
Morris Estates Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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.
Debtors |
2017 |
2016 |
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Trade debtors |
- |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2017 |
2016 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Page 5 |
Morris Estates Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
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No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Related party transactions |
Transactions with directors |
2017 |
At 1 July 2016 |
Advances to directors |
At 30 June 2017 |
Mr Stuart Morris |
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Amounts owed to director |
1,456 |
|
|
1,456 |
43,872 |
45,328 |
|
Mr Graham Morris |
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Amounts owed to director |
1,456 |
|
|
1,456 |
43,872 |
45,328 |
|
2016 |
Advances to directors |
At 30 June 2016 |
Mr Stuart Morris |
||
Amounts owed to director |
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|
1,456 |
1,456 |
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Mr Graham Morris |
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Amounts owed to director |
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|
1,456 |
1,456 |
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Page 6 |
Morris Estates Limited
Notes to the Financial Statements for the Year Ended 30 June 2017
Transition to FRS 102 |
Balance Sheet at 1 July 2015
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Current assets |
||||
Debtors |
66,014 |
- |
- |
66,014 |
Cash at bank and in hand |
20,178 |
- |
- |
20,178 |
86,192 |
- |
- |
86,192 |
|
Creditors: Amounts falling due within one year |
(83,613) |
- |
- |
(83,613) |
Net assets |
2,579 |
- |
- |
2,579 |
Capital and reserves |
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Called up share capital |
100 |
- |
- |
100 |
Profit and loss account |
2,479 |
- |
- |
2,479 |
Total equity |
2,579 |
- |
- |
2,579 |
Balance Sheet at 30 June 2016
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Current assets |
||||
Debtors |
69,609 |
- |
- |
69,609 |
Cash at bank and in hand |
26,200 |
- |
- |
26,200 |
95,809 |
- |
- |
95,809 |
|
Creditors: Amounts falling due within one year |
(92,456) |
- |
- |
(92,456) |
Net assets |
3,353 |
- |
- |
3,353 |
Capital and reserves |
||||
Called up share capital |
100 |
- |
- |
100 |
Profit and loss account |
3,253 |
- |
- |
3,253 |
Total equity |
3,353 |
- |
- |
3,353 |
Page 7 |