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REGISTERED NUMBER: 09031789 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Morgan Cox Ltd

Morgan Cox Ltd (Registered number: 09031789)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morgan Cox Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: C Bahrey
Mrs N E Bahrey





REGISTERED OFFICE: Unit 14 Peckleton Lane Business Park
Peckleton Common
Peckleton
Leicester
Leicestershire
LE9 7RN





REGISTERED NUMBER: 09031789 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Morgan Cox Ltd (Registered number: 09031789)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 194,115 64,357

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 5 319,358 201,220
Cash at bank 7,991 54,794
328,349 257,014
CREDITORS
Amounts falling due within one year 6 (238,080 ) (222,545 )
NET CURRENT ASSETS 90,269 34,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

284,384

98,826

CREDITORS
Amounts falling due after more than one
year

7

(140,225

)

(36,219

)

PROVISIONS FOR LIABILITIES (44,667 ) (12,228 )
NET ASSETS 99,492 50,379

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 99,392 50,279
99,492 50,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Morgan Cox Ltd (Registered number: 09031789)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:





C Bahrey - Director


Morgan Cox Ltd (Registered number: 09031789)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Morgan Cox 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. 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.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Morgan Cox Ltd (Registered number: 09031789)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 94,315 2,236 7,817 13,371 117,739
Additions 45,235 - 113,635 3,121 161,991
At 31 May 2023 139,550 2,236 121,452 16,492 279,730
DEPRECIATION
At 1 June 2022 37,868 1,074 4,930 9,510 53,382
Charge for year 13,818 232 14,887 3,296 32,233
At 31 May 2023 51,686 1,306 19,817 12,806 85,615
NET BOOK VALUE
At 31 May 2023 87,864 930 101,635 3,686 194,115
At 31 May 2022 56,447 1,162 2,887 3,861 64,357

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 234,289 163,329
Other debtors 85,069 37,891
319,358 201,220

Other debtors includes prepayments and accrued income of £10,665 (2022: £6,865).

Morgan Cox Ltd (Registered number: 09031789)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 26,349 12,215
Trade creditors 91,158 75,990
Taxation and social security 36,882 75,591
Other creditors 73,691 48,749
238,080 222,545

Other creditors includes accruals and deferred income of £3,092 (2022: £2,410).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 19,998 30,000
Hire purchase contracts 120,227 6,219
140,225 36,219

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Hire purchase contracts 146,576 18,434

The above liabilities are secured on the assets being so acquired.

9. OFF-BALANCE SHEET ARRANGEMENTS

The total amount of financial commitments, guarantees and contingencies that are not in the balance sheet is £179,586 (2022: £15,167)