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Company Registration number: 02452448

Morecheck Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024
 

 

Morecheck Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Morecheck Limited

Company Information

Directors

Mr D A W Cook

Mr C N Stone

Mr P A Lowe

Mr P D Roberts

Registered office

Unit 449 Oakshott Place
Walton Summit Centre
Bamber Bridge Preston
Lancashire
PR5 8AU

Accountants

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Morecheck Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Morecheck Limited for the year ended 31 March 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Morecheck Limited, as a body, in accordance with the terms of our engagement letter dated 19 March 2020. Our work has been undertaken solely to prepare for your approval the accounts of Morecheck Limited and state those matters that we have agreed to state to the Board of Directors of Morecheck Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morecheck Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Morecheck Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Morecheck Limited. You consider that Morecheck Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Morecheck Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

26 September 2024

 

Morecheck Limited

(Registration number: 02452448)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

105,478

103,394

Current assets

 

Debtors

5

1,400,661

1,374,278

Cash at bank and in hand

 

893,344

431,856

 

2,294,005

1,806,134

Creditors: Amounts falling due within one year

6

(825,730)

(595,860)

Net current assets

 

1,468,275

1,210,274

Total assets less current liabilities

 

1,573,753

1,313,668

Creditors: Amounts falling due after more than one year

6

(105,000)

(165,000)

Provisions for liabilities

(18,736)

(17,728)

Net assets

 

1,450,017

1,130,940

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,449,917

1,130,840

Shareholders' funds

 

1,450,017

1,130,940

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

 

Morecheck Limited

(Registration number: 02452448)
Balance Sheet as at 31 March 2024 (continued)

.........................................
Mr D A W Cook
Director

   
     
 

Morecheck Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 449 Oakshott Place
Walton Summit Centre
Bamber Bridge Preston
Lancashire
PR5 8AU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.

Contract revenue recognition

Turnover represents revenue earned under contracts to provide goods and services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for the performance under those contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, excluding value added tax. For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the assignment, the stage of completion and the relevant contract terms. Unbilled revenue is included in debtors, under 'amounts recoverable on contracts'. Revenue billed in excess of work done is included in creditors, under 'payments received on account'.

Revenue recorded represents the aggregate of costs incurred during the year and a proportion of estimated profit on individual contracts based on the relationship of costs incurred to total estimated costs for each contract.

 

Morecheck Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures, fittings and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

25% reducing balance

Research and development expenditure

Research and development expenditure is written off in the period in which it is incurred.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Morecheck Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2023 - 24).

 

Morecheck Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

41,545

99,334

71,572

140,816

353,267

Additions

1,533

-

995

26,495

29,023

Disposals

(35,265)

-

-

(10,574)

(45,839)

At 31 March 2024

7,813

99,334

72,567

156,737

336,451

Depreciation

At 1 April 2023

39,451

85,580

55,655

69,187

249,873

Charge for the year

545

2,062

4,229

17,176

24,012

Eliminated on disposal

(35,265)

-

-

(7,647)

(42,912)

At 31 March 2024

4,731

87,642

59,884

78,716

230,973

Carrying amount

At 31 March 2024

3,082

11,692

12,683

78,021

105,478

At 31 March 2023

2,094

13,754

15,917

71,629

103,394

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

1,143,717

1,307,778

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

13,838

13,817

Prepayments

 

38,896

40,409

Other debtors

 

204,210

12,274

 

1,400,661

1,374,278

 

Morecheck Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

60,000

60,000

Trade creditors

 

426,421

285,955

Taxation and social security

 

305,134

220,626

Accruals and deferred income

 

26,728

27,198

Other creditors

 

7,447

2,081

 

825,730

595,860

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

105,000

165,000

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £103,052 (2023 - £46,314). These commitments represent the minimum amounts payable by the company under non-cancellable operating leases.

8

Related party transactions

Summary of transactions with parent

The company's immediate parent company is Vibrancy Limited and the ultimate parent company is Vibrancy III Limited. At the year end the company was owed £13,952 (2023 £13,931) by Vibrancy III Limited and owed £114 (2023 £114) to Vibrancy Limited.
 

 

Morecheck Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

9

Parent and ultimate parent undertaking

The company's immediate parent is Vibrancy Limited, incorporated in England and Wales.

 The ultimate parent is Vibrancy III Limited, incorporated in England and Wales.