REGISTERED NUMBER: 06027544 (England and Wales)

A & L Morgan Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2017

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

L B Morgan

J B Morgan

Mrs D M Morgan

SECRETARY:

L B Morgan

REGISTERED OFFICE:

Landynod Farm

Winslow

Bromyard

Herefordshire

HR7 4LS

REGISTERED NUMBER:

06027544 (England and Wales)

ACCOUNTANTS:

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Amberley Court

Sutton St Nicholas

Hereford

Herefordshire

HR1 3BX

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements

and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of A & L Morgan Ltd for the year ended 31 March 2017 which comprise the Profit and Loss

Account, Balance Sheet, and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A & L Morgan Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A & L Morgan Ltd and state those matters that we have agreed to state to the Board of Directors of A & L Morgan Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & L Morgan Ltd Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A & L Morgan Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A & L Morgan Ltd. You consider that A & L Morgan Ltd 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 financial statements of A & L Morgan Ltd. 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 financial statements.

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Amberley Court

Sutton St Nicholas

Hereford

Herefordshire

HR1 3BX

8 December 2017

FIXED ASSETS

Tangible assets

5

350,398

269,890

Investments

6

105

105

350,503

269,995

CURRENT ASSETS

Stocks

7

789,470

652,155

Debtors

8

102,365

93,646

Cash at bank

116,070

155,768

1,007,905

901,569

CREDITORS

Amounts falling due within one year

9

201,250

164,652

NET CURRENT ASSETS

806,655

736,917

TOTAL ASSETS LESS CURRENT LIABILITIES

1,157,158

1,006,912

PROVISIONS FOR LIABILITIES

56,244

45,710

NET ASSETS

1,100,914

961,202

CAPITAL AND RESERVES

Called up share capital

10

100

1

Retained earnings

1,100,814

961,201

SHAREHOLDERS' FUNDS

1,100,914

961,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 Profit and Loss Account has not been delivered.

The financial statements were approved for issue by the Board of Directors on 7 December 2017 and were signed on its behalf by:

L B Morgan - Director

1.	STATUTORY INFORMATION

A & L Morgan Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The directors have considered the financial requirements of the company and consider that it will be able to

operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate

to prepare accounts on the going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

4% on cost

Plant and machinery

-

20% on reducing balance and 15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost, 33% on reducing balance and 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.

The company has the following biological assets within stock which are valued as disclosed:

Livestock - valued at their estimated cost with reference to current market values

Crops in store - valued at their estimated cost with reference to current market values

Growing crop - valued at the cost of inputs and cultivations up to the period end

Financial instruments

The company has the following Financial Instruments and their treatment is disclosed below:

Bank account - recognised at the amount held at the bank

Other short term debtors and creditors - recognised at the amount repayable

Directors' loan accounts - recognised at the amount repayable

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2016

68,259

347,046

46,013

Additions

19,891

126,891

-

Disposals

-

(9,700

)

-

At 31 March 2017

88,150

464,237

46,013

DEPRECIATION

At 1 April 2016

11,516

172,439

27,119

Charge for year

3,291

53,975

2,835

Eliminated on disposal

-

(8,420

)

-

At 31 March 2017

14,807

217,994

29,954

NET BOOK VALUE

At 31 March 2017

73,343

246,243

16,059

At 31 March 2016

56,743

174,607

18,894

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2016

47,343

4,580

513,241

Additions

-

-

146,782

Disposals

-

-

(9,700

)

At 31 March 2017

47,343

4,580

650,323

DEPRECIATION

At 1 April 2016

29,038

3,239

243,351

Charge for year

4,576

317

64,994

Eliminated on disposal

-

-

(8,420

)

At 31 March 2017

33,614

3,556

299,925

NET BOOK VALUE

At 31 March 2017

13,729

1,024

350,398

At 31 March 2016

18,305

1,341

269,890

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2016

and 31 March 2017

105

NET BOOK VALUE

At 31 March 2017

105

At 31 March 2016

105

7.

STOCKS

2017

2016

£

£

Stores valuation

28,470

20,155

Raw materials valuation

2,000

1,800

Livestock valuation

759,000

630,200

789,470

652,155

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

69,523

76,889

L and D Morgan

5,348

-

VAT

11,577

-

Prepayments and accrued income

15,917

16,757

102,365

93,646

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

128,312

57,026

Corporation tax payable

29,008

22,740

VAT

-

685

Other creditors

7,607

24,700

Directors' current accounts

26,114

56,401

Accrual and deferred income

10,209

3,100

201,250

164,652

Balances due to directors are repayable on demand and are interest free.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

1

99 Ordinary shares of £1 each were allotted as fully paid as a bonus issue out of reserves during the year.

11.	FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £69,085 (2016 - £89,810).

The financial commitments are due over the next 2 years and relate to land and property rent.

12.	FIRST YEAR ADOPTION

The company has prepared accounts under the provisions of Section 1A "Small Entities" of Financial Reporting

Standard 102 (FRS 102) for the first time.

There were no transitional adjustments. The date of transition to Section 1A of FRS 102 is 1 April 2015 and the

last accounts prepared and filed under the previous accounting framework are for the year ended 31 March 2016.