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REGISTERED NUMBER: 08146644 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 June 2023

for

MORGAN STRUCTURAL LTD

MORGAN STRUCTURAL LTD (REGISTERED NUMBER: 08146644)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORGAN STRUCTURAL LTD

Company Information
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: B D Morgan
M R Hedges





REGISTERED OFFICE: The Old Brewery
7-11 Lodway
Pill
Bristol
BS20 0DH





REGISTERED NUMBER: 08146644 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Kestrel Court
Harbour Road
Portishead
Bristol
BS20 7AN

MORGAN STRUCTURAL LTD (REGISTERED NUMBER: 08146644)

Balance Sheet
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,771 10,005
12,771 10,005

CURRENT ASSETS
Debtors 6 475,851 440,982
Cash at bank and in hand 160,059 219,978
635,910 660,960
CREDITORS
Amounts falling due within one year 7 (304,508 ) (332,976 )
NET CURRENT ASSETS 331,402 327,984
TOTAL ASSETS LESS CURRENT
LIABILITIES

344,173

337,989

PROVISIONS FOR LIABILITIES (2,317 ) (1,224 )
NET ASSETS 341,856 336,765

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 341,756 336,665
SHAREHOLDERS' FUNDS 341,856 336,765

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 June 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 STRUCTURAL LTD (REGISTERED NUMBER: 08146644)

Balance Sheet - continued
30 JUNE 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





B D Morgan - Director


MORGAN STRUCTURAL LTD (REGISTERED NUMBER: 08146644)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2023


1. COMPANY INFORMATION

Morgan Structural 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.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including annual budgets and future cash flows, in making their assessment. Based on these assessments and current resources available, the directors have concluded that they are able to continue to adopt the going concern basis in preparing the annual report and financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

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

MORGAN STRUCTURAL LTD (REGISTERED NUMBER: 08146644)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

MORGAN STRUCTURAL LTD (REGISTERED NUMBER: 08146644)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

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 21 (2022 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 8,285
AMORTISATION
At 1 July 2022
and 30 June 2023 8,285
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 131 5,972 11,721 40,153 57,977
Additions - 2,568 - 7,736 10,304
Disposals - - (11,721 ) - (11,721 )
At 30 June 2023 131 8,540 - 47,889 56,560
DEPRECIATION
At 1 July 2022 123 3,327 9,635 34,887 47,972
Charge for year 2 1,303 - 4,147 5,452
Eliminated on disposal - - (9,635 ) - (9,635 )
At 30 June 2023 125 4,630 - 39,034 43,789
NET BOOK VALUE
At 30 June 2023 6 3,910 - 8,855 12,771
At 30 June 2022 8 2,645 2,086 5,266 10,005

MORGAN STRUCTURAL LTD (REGISTERED NUMBER: 08146644)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 325,505 327,787
Other debtors 48,341 6,661
Directors' current accounts 9,999 -
Tax - 17,140
Prepayments and accrued income 92,006 89,394
475,851 440,982

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 44,476 70,395
Tax 28,141 18,432
Social security and other taxes 15,474 17,244
Pension control 4,453 3,966
VAT 89,597 98,998
Other creditors 48,025 43,934
Employee expense claims 2,040 948
Directors' current accounts 4,040 16,335
Accrued expenses 68,262 62,724
304,508 332,976

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 27,269 14,336
Between one and five years 11,108 12,104
38,377 26,440

MORGAN STRUCTURAL LTD (REGISTERED NUMBER: 08146644)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
B D Morgan
Balance outstanding at start of year (15,007 ) (16,135 )
Amounts advanced 58,006 39,127
Amounts repaid (33,000 ) (37,999 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,999 (15,007 )

10. RELATED PARTY DISCLOSURES

Mr B D Morgan and Mr M R Hedges are directors of Morgan Structural Wales Limited. At the year end the company was owed £40,000 in respect of an interest free loan with no set date of repayment. This amount was included in other debtors.

The company was also owed £16,721 by Morgan Structural Wales Limited in respect of unpaid invoices. This amount was included in trade debtors.

Mr B D Morgan is director of Avocet Group Limited. At the year end the company owed Avocet Group Limited £37,097 (2022 - £53,616) in respect of unpaid invoices. This amount was included in trade creditors.

11. ULTIMATE CONTROLLING PARTY

Mr B D Morgan, director, & his wife, Mrs L Morgan, together own 51% of the voting shares of the company and as such are the ultimate controlling party.