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REGISTERED NUMBER: 09994848 (England and Wales)














Financial Statements for the Year Ended 28 February 2023

for

Morgan Sharp Contractors Limited

Morgan Sharp Contractors Limited (Registered number: 09994848)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morgan Sharp Contractors Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr L Sharp





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 09994848 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Morgan Sharp Contractors Limited (Registered number: 09994848)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 6,619 7,806

CURRENT ASSETS
Debtors 5 3,000 1,615
Cash at bank 2,353 2,336
5,353 3,951
CREDITORS
Amounts falling due within one year 6 7,430 5,442
NET CURRENT LIABILITIES (2,077 ) (1,491 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,542 6,315

CREDITORS
Amounts falling due after more than one
year

7

4,100

5,740
NET ASSETS 442 575

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 440 573
442 575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Morgan Sharp Contractors Limited (Registered number: 09994848)

Balance Sheet - continued
28 February 2023


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 director and authorised for issue on 24 October 2023 and were signed by:





Mr L Sharp - Director


Morgan Sharp Contractors Limited (Registered number: 09994848)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Morgan Sharp Contractors 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
Revenue 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Government grants
The Government Grant represents the first year of interest for the company on the Bounce Back Loan (BBL) it received during the year.

Morgan Sharp Contractors Limited (Registered number: 09994848)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 17,095 433 900 18,428
DEPRECIATION
At 1 March 2022 9,641 241 740 10,622
Charge for year 1,118 29 40 1,187
At 28 February 2023 10,759 270 780 11,809
NET BOOK VALUE
At 28 February 2023 6,336 163 120 6,619
At 28 February 2022 7,454 192 160 7,806

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 3,000 1,615

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 1,640 1,640
Taxation and social security 5,442 3,802
Other creditors 348 -
7,430 5,442

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans 4,100 5,740

8. RELATED PARTY DISCLOSURES

The Director Mr L Sharp is considered to be key management personnel.