Acorah Software Products - Accounts Production 14.6.300 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 04158008 Mr Malcolm Morgan Mrs Debbie Morgan-Wickson Mr Richard Morgan-Wickson Mr James Morgan Mrs Dorothy Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04158008 2023-02-28 04158008 2024-02-29 04158008 2023-03-01 2024-02-29 04158008 frs-core:CurrentFinancialInstruments 2024-02-29 04158008 frs-core:Non-currentFinancialInstruments 2024-02-29 04158008 frs-core:ComputerEquipment 2024-02-29 04158008 frs-core:ComputerEquipment 2023-03-01 2024-02-29 04158008 frs-core:ComputerEquipment 2023-02-28 04158008 frs-core:FurnitureFittings 2024-02-29 04158008 frs-core:FurnitureFittings 2023-03-01 2024-02-29 04158008 frs-core:FurnitureFittings 2023-02-28 04158008 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 04158008 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 04158008 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 04158008 frs-core:MotorVehicles 2024-02-29 04158008 frs-core:MotorVehicles 2023-03-01 2024-02-29 04158008 frs-core:MotorVehicles 2023-02-28 04158008 frs-core:PlantMachinery 2024-02-29 04158008 frs-core:PlantMachinery 2023-03-01 2024-02-29 04158008 frs-core:PlantMachinery 2023-02-28 04158008 frs-core:ShareCapital 2024-02-29 04158008 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 04158008 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04158008 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 04158008 frs-bus:SmallEntities 2023-03-01 2024-02-29 04158008 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 04158008 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04158008 frs-bus:Director1 2023-03-01 2024-02-29 04158008 frs-bus:Director2 2023-03-01 2024-02-29 04158008 frs-bus:Director3 2023-03-01 2024-02-29 04158008 frs-bus:Director4 2023-03-01 2024-02-29 04158008 frs-bus:Director5 2023-03-01 2024-02-29 04158008 frs-countries:EnglandWales 2023-03-01 2024-02-29 04158008 2022-02-28 04158008 2023-02-28 04158008 2022-03-01 2023-02-28 04158008 frs-core:CurrentFinancialInstruments 2023-02-28 04158008 frs-core:Non-currentFinancialInstruments 2023-02-28 04158008 frs-core:ShareCapital 2023-02-28 04158008 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 04158008
M Morgan Motor Engineer Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Steve Pye & Co.
Chartered Certified Accountants
3 North Lynn Bus. Village
Bergen Way, North Lynn Industrial Estate
King's Lynn
Norfolk
PE30 2JG
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04158008
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,981 9,419
9,981 9,419
CURRENT ASSETS
Stocks 5 5,150 5,045
Debtors 6 86,034 39,220
Cash at bank and in hand 124,437 105,029
215,621 149,294
Creditors: Amounts Falling Due Within One Year 7 (137,444 ) (86,892 )
NET CURRENT ASSETS (LIABILITIES) 78,177 62,402
TOTAL ASSETS LESS CURRENT LIABILITIES 88,158 71,821
Creditors: Amounts Falling Due After More Than One Year 8 (11,010 ) (19,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,365 ) -
NET ASSETS 74,783 52,654
CAPITAL AND RESERVES
Called up share capital 10 103 100
Profit and Loss Account 74,680 52,554
SHAREHOLDERS' FUNDS 74,783 52,654
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Malcolm Morgan
Director
21 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M Morgan Motor Engineer Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04158008 . The registered office is Unit 3, North Lynn Business Village Bergen Way, North Lynn Industrial Estate, King's Lynn, Norfolk, PE30 2JG.  The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered 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 to which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.
2.3. Turnover
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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Improvements 5% on straight line
Plant & Machinery 20% on straight line
Motor Vehicles 25% on straight line
Fixtures & Fittings 20% on reducing balance
Computer Equipment 20% on straight line
2.5. 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.
2.6. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
...CONTINUED
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2.6. Financial Instruments - continued
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
4. Tangible Assets
Land & Property
Leasehold Improvements Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 March 2023 86,805 63,681 30,950 436
Additions - 8,776 - -
Disposals - - (9,550 ) -
As at 29 February 2024 86,805 72,457 21,400 436
Depreciation
As at 1 March 2023 82,673 61,374 29,075 87
Provided during the period 4,132 3,158 625 70
Disposals - - (9,550 ) -
As at 29 February 2024 86,805 64,532 20,150 157
Net Book Value
As at 29 February 2024 - 7,925 1,250 279
As at 1 March 2023 4,132 2,307 1,875 349
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Page 5
Computer Equipment Total
£ £
Cost
As at 1 March 2023 1,147 183,019
Additions - 8,776
Disposals - (9,550 )
As at 29 February 2024 1,147 182,245
Depreciation
As at 1 March 2023 391 173,600
Provided during the period 229 8,214
Disposals - (9,550 )
As at 29 February 2024 620 172,264
Net Book Value
As at 29 February 2024 527 9,981
As at 1 March 2023 756 9,419
5. Stocks
2024 2023
£ £
Stock 5,150 5,045
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 85,628 37,011
Other debtors 406 2,209
86,034 39,220
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 55,998 50,988
Bank loans and overdrafts 5,989 4,792
Other creditors 8,798 4,713
Taxation and social security 66,659 26,399
137,444 86,892
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,010 19,167
11,010 19,167
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9. Secured Creditors
On 9 June 2011, a fixed and floating debenture charge was created securing any monies due or becoming due from the company to HSBC Bank Plc over all company assets, present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.
2024 2023
£ £
Bank loans and overdrafts 16,999 23,959
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 103 100
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