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Registration number: 07179926

Morgan-Jones Consulting Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Morgan-Jones Consulting Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Morgan-Jones Consulting Limited

Company Information

Directors

RL Morgan-Jones

S Morgan-Jones

Registered office

20 Mount Stuart Square
Cardiff Bay
Cardiff
South Wales
CF10 5DP

Accountants

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

 

Morgan-Jones Consulting Limited

(Registration number: 07179926)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,638

10,725

Other financial assets

5

25,000

25,000

 

32,638

35,725

Current assets

 

Debtors

177,329

163,412

Cash at bank and in hand

 

397,695

306,083

 

575,024

469,495

Creditors: Amounts falling due within one year

(38,815)

(39,387)

Net current assets

 

536,209

430,108

Total assets less current liabilities

 

568,847

465,833

Accruals and deferred income

 

(2,610)

(2,350)

Net assets

 

566,237

463,483

Capital and reserves

 

Called up share capital

6

100

100

Profit and loss account

566,137

463,383

Total equity

 

566,237

463,483

 

Morgan-Jones Consulting Limited

(Registration number: 07179926)
Abridged Balance Sheet as at 31 March 2023

For the financial year 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 year 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 1 November 2023 and signed on its behalf by:
 

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

RL Morgan-Jones
Director

 

Morgan-Jones Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
20 Mount Stuart Square
Cardiff Bay
Cardiff
South Wales
CF10 5DP

The principal place of business is:
Millenium Medical Centre
20 Mount Stuart Square
Cardiff Bay
Cardiff
CF10 5DP

These financial statements were authorised for issue by the Board on 1 November 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 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.

 

Morgan-Jones Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

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.

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

Furniture, fittings and equipment

25% 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.

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.

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.

 

Morgan-Jones Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

21,970

21,970

Disposals

(1,867)

(1,867)

At 31 March 2023

20,103

20,103

Depreciation

At 1 April 2022

11,245

11,245

Charge for the year

3,087

3,087

Eliminated on disposal

(1,867)

(1,867)

At 31 March 2023

12,465

12,465

Carrying amount

At 31 March 2023

7,638

7,638

At 31 March 2022

10,725

10,725

 

Morgan-Jones Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

5

Investments

The other investments are in respect of the historical investment by the company into two Limited Liability Partnerships. The value of these investments in considered by the director to be stated at fair value.

2019

2018

£

£

Other investments

25,000

25,000

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

7

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £510.00 (2022 - £580.00) per each Ordinary

 

51,000

 

58,000

         

8

Related party transactions

Key management personnel

Relationship: Director

Summary of transactions with key management

During the year the director provided the company with an unsecured, interest free, repayable on demand loan. At the balance sheet date the amount due to the director was £323 (2022 - £341).