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REGISTERED NUMBER: 04955931 (England and Wales)















MORGANASH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






MORGANASH LIMITED (REGISTERED NUMBER: 04955931)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORGANASH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: A Gething



REGISTERED OFFICE: 7 Whitworth Court
Manor Farm Road
Manor Park
Runcorn
Cheshire
WA7 1WA



REGISTERED NUMBER: 04955931 (England and Wales)



BANKERS: NatWest
PO Box 14
23 Sankey Street
Warrington
Cheshire
WA1 1XH

MORGANASH LIMITED (REGISTERED NUMBER: 04955931)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 287,312 320,103
Tangible assets 5 25,542 54,995
Investments 6 2 2
312,856 375,100

CURRENT ASSETS
Debtors 7 110,482 121,047
Cash at bank and in hand 60,767 45,675
171,249 166,722
CREDITORS
Amounts falling due within one year 8 302,592 300,942
NET CURRENT LIABILITIES (131,343 ) (134,220 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,513

240,880

CREDITORS
Amounts falling due after more than one
year

9

68,231

43,511
NET ASSETS 113,282 197,369

CAPITAL AND RESERVES
Called up share capital 11 10,659 10,659
Share premium 2,092,690 2,092,690
Profit and loss account (1,990,067 ) (1,905,980 )
SHAREHOLDERS' FUNDS 113,282 197,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

MORGANASH LIMITED (REGISTERED NUMBER: 04955931)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 30 May 2024 and were signed by:





A Gething - Director


MORGANASH LIMITED (REGISTERED NUMBER: 04955931)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

MorganAsh 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. 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.

Preparation of consolidated financial statements
The financial statements contain information about MorganAsh Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is the amount derived from ordinary activities, and stated after trade discounts.

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.

Software development is being amortised evenly over its estimated useful life of four 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 finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings- Between 10% and 25% on cost
Computer equipment- 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are initially recognised at cost. After initial recognition, investments in subsidiary undertakings are measured at cost less any accumulated impairment losses.

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.

MORGANASH LIMITED (REGISTERED NUMBER: 04955931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Grants
Grants and other contributions received towards the cost of tangible fixed assets are included in creditors as deferred income and credited to the profit and loss account over the life of the assets to which they relate:

Computer hardware - over 4 years
Computer software - over 4 years
Fixtures and fittings - over 10 years

Hire purchase and operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Software
development
£   
COST
At 1 January 2023 1,118,516
Additions 87,918
At 31 December 2023 1,206,434
AMORTISATION
At 1 January 2023 798,413
Amortisation for year 120,709
At 31 December 2023 919,122
NET BOOK VALUE
At 31 December 2023 287,312
At 31 December 2022 320,103

MORGANASH LIMITED (REGISTERED NUMBER: 04955931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 538 123,382 123,920
Additions - 683 683
At 31 December 2023 538 124,065 124,603
DEPRECIATION
At 1 January 2023 538 68,387 68,925
Charge for year - 30,136 30,136
At 31 December 2023 538 98,523 99,061
NET BOOK VALUE
At 31 December 2023 - 25,542 25,542
At 31 December 2022 - 54,995 54,995

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 2
NET BOOK VALUE
At 31 December 2023 2
At 31 December 2022 2

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 71,378 92,664
Other debtors 8,889 -
Prepayments and accrued income 30,215 28,383
110,482 121,047

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 97,778
Trade creditors 99,070 77,561
Social security and other taxes 160,028 85,872
Amounts owed to group undertakings 2 2
Accrued expenses 43,492 39,729
302,592 300,942

MORGANASH LIMITED (REGISTERED NUMBER: 04955931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Directors' loan accounts 57,298 32,578
Other creditors 10,933 10,933
68,231 43,511

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 97,778

Bank loans and overdrafts are secured on all assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,065,888 Ordinary £0.01 10,659 10,659

12. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £19,602 (2022 : £40,715).

13. GOING CONCERN

The accounts have been prepared on the going concern basis as the director has confirmed that financial forecasts indicate that the company has sufficient funding to enable it to continue to trade for the foreseeable future.