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REGISTERED NUMBER: 07508126 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MORGAN FIRE & SECURITY SYSTEMS LIMITED

MORGAN FIRE & SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07508126)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

MORGAN FIRE & SECURITY SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D R Hughes
Mrs K Hughes





REGISTERED OFFICE: Unit 5
Maes Y Clawdd Industrial Estate
Oswestry
Shropshire
SY10 8NN





REGISTERED NUMBER: 07508126 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG

MORGAN FIRE & SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07508126)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 70,745 80,973
Tangible assets 6 154,356 119,756
Investments 7 417 417
225,518 201,146

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 8 364,809 382,707
Cash at bank 171,606 123,373
539,415 509,080
CREDITORS
Amounts falling due within one year 9 222,066 211,845
NET CURRENT ASSETS 317,349 297,235
TOTAL ASSETS LESS CURRENT
LIABILITIES

542,867

498,381

CREDITORS
Amounts falling due after more than one
year

10

(53,224

)

(50,297

)

PROVISIONS FOR LIABILITIES (37,392 ) (28,742 )
NET ASSETS 452,251 419,342

CAPITAL AND RESERVES
Called up share capital 140,200 140,200
Retained earnings 312,051 279,142
452,251 419,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 FIRE & SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07508126)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





D R Hughes - Director


MORGAN FIRE & SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07508126)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Morgan Fire & Security Systems Limited 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.

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 statement have been prepared under the historical cost convention.

These financial statements are for the individual entity only.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

MORGAN FIRE & SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07508126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Investments
Investments are accounted for at cost.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 204,561
AMORTISATION
At 1 April 2023 123,588
Charge for year 10,228
At 31 March 2024 133,816
NET BOOK VALUE
At 31 March 2024 70,745
At 31 March 2023 80,973

MORGAN FIRE & SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07508126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 April 2023 172,464
Additions 77,121
Disposals (22,740 )
At 31 March 2024 226,845
DEPRECIATION
At 1 April 2023 52,708
Charge for year 32,349
Eliminated on disposal (12,568 )
At 31 March 2024 72,489
NET BOOK VALUE
At 31 March 2024 154,356
At 31 March 2023 119,756

Cost or valuation at 31 March 2024 is represented by:

Plant and
machinery
etc
£   
Valuation in 2019 4,787
Cost 222,058
226,845


7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 417
NET BOOK VALUE
At 31 March 2024 417
At 31 March 2023 417

MORGAN FIRE & SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07508126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 168,354 190,642
Other debtors - 1,000
Amounts due from related parties 192,285 187,085
Prepayments 4,170 3,980
364,809 382,707

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,214 6,214
Hire purchase contracts 12,634 5,197
Trade creditors 96,537 79,855
Tax 25,297 35,272
Social security and other taxes 13,114 14,577
Other creditors 6,400 4,459
Directors' current accounts 16,569 21,857
Accrued expenses 45,301 44,414
222,066 211,845

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 29,202 34,463
Hire purchase contracts 24,022 15,834
53,224 50,297

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MORGAN FIRE & SECURITY SYSTEMS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morgan Fire & Security Systems Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Morgan Fire & Security Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Morgan Fire & Security Systems Limited and state those matters that we have agreed to state to the Board of Directors of Morgan Fire & Security Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morgan Fire & Security Systems Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Morgan Fire & Security Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Morgan Fire & Security Systems Limited. You consider that Morgan Fire & Security Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Morgan Fire & Security Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D.R.E. & Co. Limited
Chartered Accountants
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG


30 July 2024