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REGISTERED NUMBER: SC267723 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MORGAN WATT ENTERPRISES LIMITED

MORGAN WATT ENTERPRISES LIMITED (REGISTERED NUMBER: SC267723)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORGAN WATT ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: K Watt





SECRETARY: Masson Glennie LLP





REGISTERED OFFICE: Broad House
Broad Street
Peterhead
Aberdeenshire
AB42 1HY





REGISTERED NUMBER: SC267723 (Scotland)

MORGAN WATT ENTERPRISES LIMITED (REGISTERED NUMBER: SC267723)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 261,369 267,529

CURRENT ASSETS
Debtors 6 27,459 26,841
Cash at bank 864 1,634
28,323 28,475
CREDITORS
Amounts falling due within one year 7 25,137 23,768
NET CURRENT ASSETS 3,186 4,707
TOTAL ASSETS LESS CURRENT
LIABILITIES

264,555

272,236

CREDITORS
Amounts falling due after more than one
year

8

257,878

258,878
NET ASSETS 6,677 13,358

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 6,676 13,357
SHAREHOLDERS' FUNDS 6,677 13,358

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 WATT ENTERPRISES LIMITED (REGISTERED NUMBER: SC267723)

BALANCE SHEET - continued
31 MARCH 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 18 January 2024 and were signed by:





K Watt - Director


MORGAN WATT ENTERPRISES LIMITED (REGISTERED NUMBER: SC267723)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Morgan Watt Enterprises Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. This assumption is based upon assurances received from officers of the company that it is their intention to provide such assistance as is required to enable the company to meet its financial commitments.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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.
Land and buildings - 2% on cost

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.


MORGAN WATT ENTERPRISES LIMITED (REGISTERED NUMBER: SC267723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2022
and 31 March 2023 307,991
DEPRECIATION
At 1 April 2022 40,462
Charge for year 6,160
At 31 March 2023 46,622
NET BOOK VALUE
At 31 March 2023 261,369
At 31 March 2022 267,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,000 8,000
Other debtors 19,459 18,841
27,459 26,841

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 24,229 22,860
Other creditors 908 908
25,137 23,768

MORGAN WATT ENTERPRISES LIMITED (REGISTERED NUMBER: SC267723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 257,878 258,878

9. ULTIMATE CONTROLLING PARTY

The controlling party is K Watt.