ANDMORG Limited 13981231 false 2022-03-16 2023-03-31 2023-03-31 The principal activity of the company is MOT and car repairs Digita Accounts Production Advanced 6.30.9574.0 true 13981231 2022-03-16 2023-03-31 13981231 2023-03-31 13981231 bus:OrdinaryShareClass1 2023-03-31 13981231 core:CurrentFinancialInstruments 2023-03-31 13981231 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13981231 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13981231 core:FurnitureFittingsToolsEquipment 2023-03-31 13981231 core:OtherPropertyPlantEquipment 2023-03-31 13981231 bus:SmallEntities 2022-03-16 2023-03-31 13981231 bus:AuditExemptWithAccountantsReport 2022-03-16 2023-03-31 13981231 bus:AbridgedAccounts 2022-03-16 2023-03-31 13981231 bus:SmallCompaniesRegimeForAccounts 2022-03-16 2023-03-31 13981231 bus:RegisteredOffice 2022-03-16 2023-03-31 13981231 bus:Director1 2022-03-16 2023-03-31 13981231 bus:Director2 2022-03-16 2023-03-31 13981231 bus:OrdinaryShareClass1 2022-03-16 2023-03-31 13981231 bus:PrivateLimitedCompanyLtd 2022-03-16 2023-03-31 13981231 core:Goodwill 2022-03-16 2023-03-31 13981231 core:FurnitureFittingsToolsEquipment 2022-03-16 2023-03-31 13981231 core:OtherPropertyPlantEquipment 2022-03-16 2023-03-31 13981231 core:PlantMachinery 2022-03-16 2023-03-31 13981231 countries:EnglandWales 2022-03-16 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13981231

ANDMORG Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Period from 16 March 2022 to 31 March 2023

 

ANDMORG Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

ANDMORG Limited

Company Information

Directors

Mr D J M Morgan

Mr L M A Andrews

Registered office

Two locks Garage
39 Two locks Road
Two locks
Cwmbran
NP44 7HQ

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

ANDMORG Limited

(Registration number: 13981231)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Intangible assets

4

46,667

Tangible assets

5

45,833

 

92,500

Current assets

 

Stocks

6

400

Debtors

3,238

Cash at bank and in hand

 

42,552

 

46,190

Creditors: Amounts falling due within one year

(22,579)

Net current assets

 

23,611

Total assets less current liabilities

 

116,111

Creditors: Amounts falling due after more than one year

(95,202)

Provisions for liabilities

(8,708)

Accruals and deferred income

 

(3,100)

Net assets

 

9,101

Capital and reserves

 

Called up share capital

8

80

Retained earnings

9,021

Shareholders' funds

 

9,101

 

ANDMORG Limited

(Registration number: 13981231)
Abridged Balance Sheet as at 31 March 2023

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 October 2023 and signed on its behalf by:
 

.........................................

Mr D J M Morgan
Director

 

ANDMORG Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 16 March 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Two locks Garage
39 Two locks Road
Two locks
Cwmbran
NP44 7HQ

These financial statements were authorised for issue by the Board on 5 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

ANDMORG Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 16 March 2022 to 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Straight line

Office equipment

25% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

ANDMORG Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 16 March 2022 to 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

ANDMORG Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 16 March 2022 to 31 March 2023

4

Intangible assets

Total
£

Cost or valuation

Additions acquired separately

50,000

At 31 March 2023

50,000

Amortisation

Amortisation charge

3,333

At 31 March 2023

3,333

Carrying amount

At 31 March 2023

46,667

5

Tangible assets

Furniture, fittings and equipment
 £

Plant & Machinery
£

Total
£

Cost or valuation

Additions

2,000

48,000

50,000

At 31 March 2023

2,000

48,000

50,000

Depreciation

Charge for the period

167

4,000

4,167

At 31 March 2023

167

4,000

4,167

Carrying amount

At 31 March 2023

1,833

44,000

45,833

6

Stocks

2023
£

Other inventories

400

7

Related party transactions

Other transactions with directors

During the period the directors made unsecured, interest free and repayable on demand loans to the company. At the balance sheet date the amount owed to the directors was £9,196.

 

ANDMORG Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 16 March 2022 to 31 March 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

80

80

     

New shares allotted

During the period 80 Ordinary having an aggregate nominal value of £80 were allotted for an aggregate consideration of £80. business incorporation.