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REGISTERED NUMBER: 10118693 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2023

FOR

MORGAN NORTHWEST HOLDINGS LIMITED

MORGAN NORTHWEST HOLDINGS LIMITED (REGISTERED NUMBER: 10118693)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MORGAN NORTHWEST HOLDINGS LIMITED

COMPANY INFORMATION
for the Year Ended 30th April 2023







DIRECTORS: Mr T R Morgan
Mr W A Morgan
Mr D O Morgan
Mr S A Morgan
Mr T H Morgan





REGISTERED OFFICE: Xeinadin Manchester
100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 10118693 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

MORGAN NORTHWEST HOLDINGS LIMITED (REGISTERED NUMBER: 10118693)

BALANCE SHEET
30th April 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 662,647 423,707
Debtors 4 21,678 2,060
Cash at bank 19,278 28,869
703,603 454,636
CREDITORS
Amounts falling due within one year 5 (703,333 ) (442,447 )
NET CURRENT ASSETS 270 12,189
TOTAL ASSETS LESS CURRENT
LIABILITIES

270

12,189

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 170 12,089
SHAREHOLDERS' FUNDS 270 12,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2024 and were signed on its behalf by:





Mr T R Morgan - Director


MORGAN NORTHWEST HOLDINGS LIMITED (REGISTERED NUMBER: 10118693)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2023


1. STATUTORY INFORMATION

Morgan Northwest Holdings Limited (previously Aasgard Limited) is a private company limited by share capital, incorporated in England and Wales, registration number 10118693. The address of the registered office is Xeinadin Manchester, 100 Barbirolli Square, Manchester, M2 3BD. The principal place of business is 11A The Circuit, Alderley Edge, Cheshire, SK9 7LS.

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.

At the reporting date, the company's liabilities exceed its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis.

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

Turnover from services is recognised in accounting periods in which the services are rendered, by reference to completion of the specific transaction, assessed on the basis of the actual service provided as a proportion of the total services to be provided.

Turnover from property sales are recognised in accounting periods in which the completion of sales has been done, by reference to completion documents.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise directly of property redevelopment, are based on the costs incurred at the time. Overheads directly attributable to property redevelopment have also been recognised in stocks rather than being expensed to profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

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.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

MORGAN NORTHWEST HOLDINGS LIMITED (REGISTERED NUMBER: 10118693)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 21,678 2,060

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors (1 ) -
Taxation and social security 47,686 51,244
Other creditors 655,648 391,203
703,333 442,447

6. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Other loans 652,402 388,800

7. SECURED DEBTS

Included within other creditors, is a bank loan amounting to £652,402 (£388,800 - 2022) which are secured with a fixed charge over the properties held by the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Nominal 2023 2022
Number Class Value £ £
80 A Ordinary £1 80 80
5 B Ordinary £1 5 5
5 C Ordinary £1 5 5
5 D Ordinary £1 5 5
5 E Ordinary £1 5 5
100 100

9. RELATED PARTY DISCLOSURES

Included within other debtors is a loan due from the directors of £14,002 (2022: £1,853). This loan is interest free and repayable on demand.