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REGISTERED NUMBER: 08060405 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023

FOR

MORGANS PLUMBING & HEATING LTD

MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MORGANS PLUMBING & HEATING LTD

COMPANY INFORMATION
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023







DIRECTOR: S E Morgan





REGISTERED OFFICE: 15 Parc Llwyfen
Llanymynech
Shropshire
SY22 6FD





REGISTERED NUMBER: 08060405 (England and Wales)





ACCOUNTANTS: Phillips & Co Accountants Chester
Obsidian Offices
Chantry Court
Chester
Cheshire
CH1 4QN

MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405)

ABRIDGED BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 631,642 544,247

CURRENT ASSETS
Stocks 8,889 13,873
Debtors 125,231 156,640
Cash at bank and in hand 194,786 66,416
328,906 236,929
CREDITORS
Amounts falling due within one year 314,895 294,674
NET CURRENT ASSETS/(LIABILITIES) 14,011 (57,745 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

645,653

486,502

CREDITORS
Amounts falling due after more than one
year

6

(313,435

)

(349,856

)

PROVISIONS FOR LIABILITIES (26,237 ) (13,908 )
NET ASSETS 305,981 122,738

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 305,980 122,737
305,981 122,738

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405)

ABRIDGED BALANCE SHEET - continued
30 APRIL 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 October 2023 and were signed by:





S E Morgan - Director


MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023

1. STATUTORY INFORMATION

Morgans Plumbing and Heating Ltd (company number 08080405) is a private company limited by shares, registered in England and Wales. Its registered office is Mc24 Maes Y Clawdd Industrial Estate, Oswestry, Shropshire SY10 8NN.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

The financial statements have been prepared under the historical cost convention. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and therefore, continues to adopt the going concern basis of accounting when preparing the annual financial statements.

Turnover
Turnover is measured at the fair value of the consideration receivable and represents amounts receivable for services rendered, stated net of discounts and Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - at variable rates on reducing balance
Motor vehicles - at variable rates on reducing balance
Computer equipment - at variable rates 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.

Taxation
Taxation for the year represents the sum of current and deferred tax. The company's liability for current tax is calculated using rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.Deferred tax liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled, based upon tax rates that have been enacted or substantively enacted by te end of the reporting period. The total charge for the year is shown in the Statement of Income and Retained Earnings.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are depreciated over their useful lives.Obligations under hire purchase contracts are included in creditors net of the finance charge allocated to future periods.

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.

MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023

3. ACCOUNTING POLICIES - continued

Employee benefits
Short term employee benefits , including holiday pay, are recognised as an expense in the Profit and Loss account in the period in which they are incurred. The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pensions costs charge represents contributions payable for the period by the company to the fund.

Grants
Grants are only recognised when there is a reasonable assurance that the entity will comply with the conditions of the grant and that the grant will be received. If the grant imposes specific future performance-related conditions, then the grant is only recognised when those conditions are met. If the grant is received before these conditions have been met , then it is recognised as a liability. If there are no future performance-related conditions, then the grant is recognised when the grant proceeds are received.

Financial instruments
The following assets and liabilities are classified as financial instruments - Trade debtors. Trade creditors , Directors' loans and Bank loans. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence is found, an impairment loss is recognised in the Profit and Loss account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2022 - 10 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 611,608
Additions 166,256
Disposals (45,995 )
At 30 April 2023 731,869
DEPRECIATION
At 1 June 2022 67,361
Charge for period 49,823
Eliminated on disposal (16,957 )
At 30 April 2023 100,227
NET BOOK VALUE
At 30 April 2023 631,642
At 31 May 2022 544,247

Included in cost of land and buildings is freehold land of £ 157,000 (2022 - £ 157,000 ) which is not depreciated.

MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Bank loans owing in more
than 5 year and not payable by
instalments - 270,000
- 270,000

7. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 30,000 109,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 40,000 19,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 260,681 48,755

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans owing in more
than 5 year and not payable by
instalments - 270,000
- 270,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 330,681 446,755
Hire purchase contracts 24,203 21,971
354,884 468,726

The hire purchase agreements are secured on the assets concerned. A bank loan is secured by a fixed and floating charge over the company's assets.In addition, there is a limited personal guarantee from the director.