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REGISTERED NUMBER: 07233718 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

John Morgan And Co Limited

John Morgan And Co Limited (Registered number: 07233718)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


John Morgan And Co Limited

Company Information
for the Year Ended 30 April 2023







Directors: Mrs K Morgan
J Morgan





Registered office: 11 Victoria Road
Ulverston
Cumbria
LA12 0EN





Registered number: 07233718 (England and Wales)





Accountants: Freeman Carr
Chartered Certified Accountants
The Gatehouse
2 Devonhurst Place
Heathfield Terrace
Chiswick
London
W4 4JD

John Morgan And Co Limited (Registered number: 07233718)

Balance Sheet
30 April 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 308,373 376,065

Current assets
Stocks 31,820 50,000
Debtors 5 212,343 18,016
Cash at bank and in hand 152,222 100,460
396,385 168,476
Creditors
Amounts falling due within one year 6 170,877 49,375
Net current assets 225,508 119,101
Total assets less current liabilities 533,881 495,166

Provisions for liabilities 77,093 -
Net assets 456,788 495,166

Capital and reserves
Called up share capital 2 2
Retained earnings 456,786 495,164
456,788 495,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 3 July 2023 and were signed on its behalf by:





Mrs K Morgan - Director


John Morgan And Co Limited (Registered number: 07233718)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. Statutory information

John Morgan And Co 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that eh associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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

Plant and machinery - 18% on reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value ot tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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

Financial instruments
The company only enters into basic financial transactions that result in the recognition of
financial assets and liabilities like cash and bank balances, trade and other debtors and
creditors, loans from banks and other third parties and investments in non-puttable ordinary
shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of
each reporting period for objective evidence of impairment. If objective evidence of
impairment is found, an impairment loss is recognised in profit and loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet
when there is an enforceable right to set off the recognised amounts and there is an
intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

John Morgan And Co Limited (Registered number: 07233718)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. Accounting policies - continued

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.

Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes ;the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

3. Employees and directors

The average number of employees during the year was 7 (2022 - 6 ) .

4. Tangible fixed assets
Plant and
machinery
etc
£
Cost
At 1 May 2022
and 30 April 2023 1,563,624
Depreciation
At 1 May 2022 1,187,559
Charge for year 67,692
At 30 April 2023 1,255,251
Net book value
At 30 April 2023 308,373
At 30 April 2022 376,065

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 38,388 11,754
Other debtors 173,955 6,262
212,343 18,016

John Morgan And Co Limited (Registered number: 07233718)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 2,248 -
Taxation and social security 124,414 19,982
Other creditors 44,215 29,393
170,877 49,375

7. Related party disclosures

At the year end the directors owed to the company £40,000 (2022: NIL). This loan will be repaid to the company in July 2023.