Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 August 2021 false 1 January 2023 31 December 2023 31 December 2023 03771138 Jonathan Carpenter Dawn Sheldrake iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03771138 2022-12-31 03771138 2023-12-31 03771138 2023-01-01 2023-12-31 03771138 frs-core:CurrentFinancialInstruments 2023-12-31 03771138 frs-core:Non-currentFinancialInstruments 2023-12-31 03771138 frs-core:ComputerEquipment 2023-01-01 2023-12-31 03771138 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 03771138 frs-core:FurnitureFittings 2023-01-01 2023-12-31 03771138 frs-core:OtherResidualIntangibleAssets 2023-12-31 03771138 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 03771138 frs-core:OtherResidualIntangibleAssets 2022-12-31 03771138 frs-core:PlantMachinery 2023-12-31 03771138 frs-core:PlantMachinery 2023-01-01 2023-12-31 03771138 frs-core:PlantMachinery 2022-12-31 03771138 frs-core:CapitalRedemptionReserve 2023-12-31 03771138 frs-core:SharePremium 2023-12-31 03771138 frs-core:ShareCapital 2023-12-31 03771138 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03771138 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03771138 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 03771138 frs-bus:SmallEntities 2023-01-01 2023-12-31 03771138 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03771138 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03771138 frs-core:ListedExchangeTraded 2023-12-31 03771138 frs-core:ListedExchangeTraded 2022-12-31 03771138 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-12-31 03771138 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 03771138 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 03771138 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 03771138 frs-bus:Director1 2023-01-01 2023-12-31 03771138 frs-bus:Director1 2022-12-31 03771138 frs-bus:Director1 2023-12-31 03771138 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 03771138 frs-countries:EnglandWales 2023-01-01 2023-12-31 03771138 2021-07-31 03771138 2022-12-31 03771138 2021-08-01 2022-12-31 03771138 frs-core:CurrentFinancialInstruments 2022-12-31 03771138 frs-core:Non-currentFinancialInstruments 2022-12-31 03771138 frs-core:CapitalRedemptionReserve 2022-12-31 03771138 frs-core:SharePremium 2022-12-31 03771138 frs-core:ShareCapital 2022-12-31 03771138 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 03771138
Morgan Price International Healthcare Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03771138
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 40,174 47,264
Tangible Assets 5 84,294 112,749
Investments 6 100,000 100,000
224,468 260,013
CURRENT ASSETS
Debtors 7 4,820,642 4,479,400
Cash at bank and in hand 293,836 472,050
5,114,478 4,951,450
Creditors: Amounts Falling Due Within One Year 8 (3,267,332 ) (2,317,542 )
NET CURRENT ASSETS (LIABILITIES) 1,847,146 2,633,908
TOTAL ASSETS LESS CURRENT LIABILITIES 2,071,614 2,893,921
Creditors: Amounts Falling Due After More Than One Year 9 (85,380 ) (193,086 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (916,652 ) (1,495,014 )
Deferred Taxation (57,343 ) (57,343 )
NET ASSETS 1,012,239 1,148,478
CAPITAL AND RESERVES
Called up share capital 10 750 750
Share premium account 4,960 4,960
Capital redemption reserve 5,040 5,040
Profit and Loss Account 1,001,489 1,137,728
SHAREHOLDERS' FUNDS 1,012,239 1,148,478
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Jonathan Carpenter
Director
29/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Morgan Price International Healthcare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03771138 . The registered office is 2 Penfold Drive, Gateway 11, Wymondham, Norfolk, NR18 0WZ.
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. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
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:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2022: 26)
28 26
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 133,893
As at 31 December 2023 133,893
Amortisation
As at 1 January 2023 86,629
Provided during the period 7,090
As at 31 December 2023 93,719
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 40,174
As at 1 January 2023 47,264
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 407,802
As at 31 December 2023 407,802
Depreciation
As at 1 January 2023 295,053
Provided during the period 28,455
As at 31 December 2023 323,508
Net Book Value
As at 31 December 2023 84,294
As at 1 January 2023 112,749
6. Investments
Listed
£
Cost
As at 1 January 2023 100,000
As at 31 December 2023 100,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 100,000
As at 1 January 2023 100,000
7. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 640,750 613,634
Other debtors 1,996,693 1,648,958
2,637,443 2,262,592
Due after more than one year
Amounts owed by group undertakings 2,183,199 2,216,808
4,820,642 4,479,400
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 452,255 679,624
Bank loans and overdrafts 93,034 69,788
Other loans 13,254 9,295
Amounts owed to group undertakings 1,821,180 649,855
Other creditors 817,640 832,306
Taxation and social security 69,969 76,674
3,267,332 2,317,542
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
£ £
Bank loans 85,380 193,086
10. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 750 750
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Jonathan Carpenter 1,026,298 92,392 - - 1,118,690
The above loan is unsecured, interest free and repayable on demand.
Page 5