IRIS Accounts Production v24.1.4.33 07186318 director 1.9.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071863182023-08-31071863182024-03-31071863182023-09-012024-03-31071863182022-08-31071863182022-09-012023-08-31071863182023-08-3107186318ns15:EnglandWales2023-09-012024-03-3107186318ns14:PoundSterling2023-09-012024-03-3107186318ns10:Director12023-09-012024-03-3107186318ns10:PrivateLimitedCompanyLtd2023-09-012024-03-3107186318ns10:SmallEntities2023-09-012024-03-3107186318ns10:AuditExempt-NoAccountantsReport2023-09-012024-03-3107186318ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-03-3107186318ns10:SmallCompaniesRegimeForAccounts2023-09-012024-03-3107186318ns10:FullAccounts2023-09-012024-03-310718631812023-09-012024-03-3107186318ns5:CurrentFinancialInstruments2024-03-3107186318ns5:CurrentFinancialInstruments2023-08-3107186318ns5:Non-currentFinancialInstruments2024-03-3107186318ns5:Non-currentFinancialInstruments2023-08-3107186318ns5:ShareCapital2024-03-3107186318ns5:ShareCapital2023-08-3107186318ns10:RegisteredOffice2023-09-012024-03-3107186318ns5:NetGoodwill2023-09-012024-03-3107186318ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-03-3107186318ns5:ComputerSoftware2023-09-012024-03-3107186318ns5:PlantMachinery2023-09-012024-03-3107186318ns5:NetGoodwill2023-08-3107186318ns5:ComputerSoftware2023-08-3107186318ns5:NetGoodwill2024-03-3107186318ns5:ComputerSoftware2024-03-3107186318ns5:NetGoodwill2023-08-3107186318ns5:ComputerSoftware2023-08-3107186318ns5:LeaseholdImprovements2023-08-3107186318ns5:PlantMachinery2023-08-3107186318ns5:FurnitureFittings2023-08-3107186318ns5:LeaseholdImprovements2023-09-012024-03-3107186318ns5:FurnitureFittings2023-09-012024-03-3107186318ns5:LeaseholdImprovements2024-03-3107186318ns5:PlantMachinery2024-03-3107186318ns5:FurnitureFittings2024-03-3107186318ns5:LeaseholdImprovements2023-08-3107186318ns5:PlantMachinery2023-08-3107186318ns5:FurnitureFittings2023-08-3107186318ns5:MotorVehicles2023-08-3107186318ns5:ComputerEquipment2023-08-3107186318ns5:MotorVehicles2023-09-012024-03-3107186318ns5:ComputerEquipment2023-09-012024-03-3107186318ns5:MotorVehicles2024-03-3107186318ns5:ComputerEquipment2024-03-3107186318ns5:MotorVehicles2023-08-3107186318ns5:ComputerEquipment2023-08-3107186318ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107186318ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3107186318ns5:CurrentFinancialInstruments2023-09-012024-03-3107186318ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3107186318ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-08-3107186318ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3107186318ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-08-31071863181ns10:Director12023-08-31071863181ns10:Director12022-08-31071863181ns10:Director12023-09-012024-03-31071863181ns10:Director12022-09-012023-08-31071863181ns10:Director12024-03-31071863181ns10:Director12023-08-310718631812023-09-012024-03-31
REGISTERED NUMBER: 07186318 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 SEPTEMBER 2023 TO 31 MARCH 2024

FOR

MORGAN & BOND LIMITED

MORGAN & BOND LIMITED (REGISTERED NUMBER: 07186318)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2023 TO 31 MARCH 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 8


MORGAN & BOND LIMITED (REGISTERED NUMBER: 07186318)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.8.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 60,737 -
Tangible assets 5 50,924 57,343
111,661 57,343

CURRENT ASSETS
Stocks 214,170 226,318
Debtors 6 1,637,960 1,870,171
Cash at bank 1,114,232 736,866
2,966,362 2,833,355
CREDITORS
Amounts falling due within one year 7 (2,013,956 ) (1,845,094 )
NET CURRENT ASSETS 952,406 988,261
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,064,067

1,045,604

CREDITORS
Amounts falling due after more than one
year

8

(36,457

)

(75,617

)

PROVISIONS FOR LIABILITIES (27,915 ) (14,335 )
NET ASSETS 999,695 955,652

CAPITAL AND RESERVES
Called up share capital 152 152
Retained earnings 999,543 955,500
999,695 955,652

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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 & BOND LIMITED (REGISTERED NUMBER: 07186318)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 July 2024 and were signed by:





A G Bond - Director


MORGAN & BOND LIMITED (REGISTERED NUMBER: 07186318)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

Morgan & Bond Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07186318

Registered office: Unit 3 Stanley Business Park
Prospect Road
Burntwood
Staffordshire
WS7 0AF

The principal activity is that of a construction company.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

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 nil 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 etc - straight line over 3 years and 25% reducing balance

STOCKS AND WORK IN PROGRESS
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

MORGAN & BOND LIMITED (REGISTERED NUMBER: 07186318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


MORGAN & BOND LIMITED (REGISTERED NUMBER: 07186318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

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 period was 43 (2023 - 42 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 September 2023 297,000 - 297,000
Additions - 64,500 64,500
At 31 March 2024 297,000 64,500 361,500
AMORTISATION
At 1 September 2023 297,000 - 297,000
Amortisation for period - 3,763 3,763
At 31 March 2024 297,000 3,763 300,763
NET BOOK VALUE
At 31 March 2024 - 60,737 60,737
At 31 August 2023 - - -

MORGAN & BOND LIMITED (REGISTERED NUMBER: 07186318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Other Plant and and
assets machinery fittings
£    £    £   
COST
At 1 September 2023 16,024 7,953 679
Additions - - 25,803
Disposals (16,024 ) - -
At 31 March 2024 - 7,953 26,482
DEPRECIATION
At 1 September 2023 - 7,772 679
Charge for period - 27 3,763
Eliminated on disposal - - -
At 31 March 2024 - 7,799 4,442
NET BOOK VALUE
At 31 March 2024 - 154 22,040
At 31 August 2023 16,024 181 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 87,324 3,335 115,315
Additions - 1,125 26,928
Disposals (22,500 ) - (38,524 )
At 31 March 2024 64,824 4,460 103,719
DEPRECIATION
At 1 September 2023 46,748 2,773 57,972
Charge for period 5,039 408 9,237
Eliminated on disposal (14,414 ) - (14,414 )
At 31 March 2024 37,373 3,181 52,795
NET BOOK VALUE
At 31 March 2024 27,451 1,279 50,924
At 31 August 2023 40,576 562 57,343

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.8.23
£    £   
Trade debtors 1,569,754 1,710,457
Customer retentions 27,741 119,249
Other debtors 40,465 40,465
1,637,960 1,870,171

MORGAN & BOND LIMITED (REGISTERED NUMBER: 07186318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.8.23
£    £   
Bank loans and overdrafts 62,500 62,515
Hire purchase contracts - 10,804
Trade creditors 613,686 801,941
Amounts owed to group undertakings 167,899 88,663
Tax 344,438 123,124
Social security and other taxes 172,214 126,426
VAT 246,040 287,179
Other creditors 164,160 21,967
Directors' loan accounts - 1,877
Accruals and deferred income 243,019 320,598
2,013,956 1,845,094

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.8.23
£    £   
Bank loans - 1-2 years 36,457 62,500
Bank loans - 2-5 years - 10,416
Hire purchase contracts - 2,701
36,457 75,617

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.8.23
£    £   
Hire purchase contracts - 13,505

MORGAN & BOND LIMITED (REGISTERED NUMBER: 07186318)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 31 MARCH 2024


10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2024 and the year ended 31 August 2023:

31.3.24 31.8.23
£    £   
A G Bond
Balance outstanding at start of period - 272
Amounts advanced - 71,261
Amounts repaid - (71,533 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - -

11. POST BALANCE SHEET EVENTS

There were no significant events up to the date of approval of the financial statements by the Board

12. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Morgan & Bond Group Limited.