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Registration number: 4227767

D Morgan Construction Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2022

 

D Morgan Construction Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

D Morgan Construction Limited

(Registration number: 4227767)
Balance Sheet as at 30 June 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

1

5,248

Current assets

 

Stocks

6

153,068

139,431

Debtors

7

4,500

4,500

Cash at bank and in hand

 

741

102

 

158,309

144,033

Creditors: Amounts falling due within one year

8

(187,764)

(152,564)

Net current liabilities

 

(29,455)

(8,531)

Total assets less current liabilities

 

(29,454)

(3,283)

Creditors: Amounts falling due after more than one year

8

-

(14,617)

Net liabilities

 

(29,454)

(17,900)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(29,554)

(18,000)

Shareholders' deficit

 

(29,454)

(17,900)

 

D Morgan Construction Limited

(Registration number: 4227767)
Balance Sheet as at 30 June 2022

For the financial year ending 30 June 2022 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.

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 21 February 2024 and signed on its behalf by:
 

.........................................
D Morgan
Director

 

D Morgan Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

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:
30 St Giles'
Oxford
OX1 3LE

These financial statements were authorised for issue by the Board on 21 February 2024.

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 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 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.

Going concern

The company is dependent on the support of its directors. On the assumption that this support will continue, the financial statements have been prepared on a going concern basis.

Revenue recognition

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

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.

 

D Morgan Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

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

Computer Equipment

20% Straight Line

Motor vehicles

25% Straight Line

Plant machinery

10% Straight Line

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 0).

 

D Morgan Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

4

Loss before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

5,247

10,124

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2021

9,326

40,495

49,821

At 30 June 2022

9,326

40,495

49,821

Depreciation

At 1 July 2021

9,326

35,247

44,573

Charge for the year

-

5,247

5,247

At 30 June 2022

9,326

40,494

49,820

Carrying amount

At 30 June 2022

-

1

1

At 30 June 2021

-

5,248

5,248

6

Stocks

2022
£

2021
£

Work in progress

153,068

139,431

 

D Morgan Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

7

Debtors

2022
£

2021
£

Other debtors

4,500

4,500

4,500

4,500

8

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Bank loans and overdrafts

10

-

8,911

Trade creditors

 

-

6,300

Taxation and social security

 

3,976

1,070

Accruals and deferred income

 

6,803

2,800

Other creditors

 

165,214

121,712

Corporation tax

 

11,771

11,771

 

187,764

152,564

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

10

-

14,617

9

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

D Morgan Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

10

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Hire purchase contracts

-

14,617

2022
£

2021
£

Current loans and borrowings

Hire purchase contracts

-

8,911