Peter L Morrison Limited - Period Ending 2018-08-31

Registration number: 06988885

Peter L Morrison Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2018

Chartered Accountants

Peter L Morrison Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 5

Peter L Morrison Limited

Company Information

Director

P L Morrison

Registered office

Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Accountants

Edwards & Keeping Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Peter L Morrison Limited
for the Year Ended 31 August 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Peter L Morrison Limited for the year ended 31 August 2018 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Peter L Morrison Limited, as a body, in accordance with the terms of our engagement letter dated 17 March 2016. Our work has been undertaken solely to prepare for your approval the accounts of Peter L Morrison Limited and state those matters that we have agreed to state to the Board of Directors of Peter L Morrison Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peter L Morrison Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Peter L Morrison Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Peter L Morrison Limited. You consider that Peter L Morrison Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Peter L Morrison Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

29 May 2019

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Peter L Morrison Limited

(Registration number: 06988885)
Balance Sheet as at 31 August 2018

	Note	2018		2017
		£	£	£	£
Current assets
Debtors	3		16		17
Cash at bank and in hand			51		71
			67		88
Creditors: Amounts falling due within one year	4		(9,155)		(7,403)
Net liabilities			(9,088)		(7,315)
Capital and reserves
Called up share capital		100		100
Profit and loss account		(9,188)		(7,415)
Total equity			(9,088)		(7,315)

For the financial year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his 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.

Approved and authorised for issue by the director on 25 May 2019
 

P L Morrison Director

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Peter L Morrison Limited

Notes to the Financial Statements
for the Year Ended 31 August 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

The principal place of business is:
Saddlers
Green Road
Shipbourne
Tonbridge
TN11 9PL

2	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.

Going concern

The financial statements have been prepared on a going concern basis as the directors confirms they will
continue to support the company to ensure it meets it's debts as they fall due for a period in excess of twelve
months from signing the balance sheet.

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 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.

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 and subsequently measured at amortised cost using the effective interest method.

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Peter L Morrison Limited

Notes to the Financial Statements
for the Year Ended 31 August 2018

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.

3

Debtors

	2018 £	2017 £
Other debtors	16	17
	16	17

4

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Trade creditors	6	6
Other creditors	9,149	7,397
	9,155	7,403

5	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

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