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REGISTERED NUMBER: 09732159 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MORGAN BROS (LEISURE) LIMITED

MORGAN BROS (LEISURE) LIMITED (REGISTERED NUMBER: 09732159)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORGAN BROS (LEISURE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: P W Morgan
T J Morgan





REGISTERED OFFICE: Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH





REGISTERED NUMBER: 09732159 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
PRESTON
Lancashire
PR2 2YH

MORGAN BROS (LEISURE) LIMITED (REGISTERED NUMBER: 09732159)

BALANCE SHEET
31 JANUARY 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,849 41,133

CURRENT ASSETS
Debtors 5 124,677 78,830
Cash at bank and in hand 1,627 104,109
126,304 182,939
CREDITORS
Amounts falling due within one year 6 133,429 186,263
NET CURRENT LIABILITIES (7,125 ) (3,324 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,724

37,809

CREDITORS
Amounts falling due after more than one
year

7

(17,979

)

(28,015

)

PROVISIONS FOR LIABILITIES (5,629 ) (7,568 )
NET ASSETS 116 2,226

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 16 2,126
SHAREHOLDERS' FUNDS 116 2,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

MORGAN BROS (LEISURE) LIMITED (REGISTERED NUMBER: 09732159)

BALANCE SHEET - continued
31 JANUARY 2024


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 Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:




P W Morgan - Director



T J Morgan - Director


MORGAN BROS (LEISURE) LIMITED (REGISTERED NUMBER: 09732159)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Morgan Bros (Leisure) 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

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.

Going concern
The directors has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has been adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MORGAN BROS (LEISURE) LIMITED (REGISTERED NUMBER: 09732159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 February 2023
and 31 January 2024 61,199
DEPRECIATION
At 1 February 2023 20,066
Charge for year 10,284
At 31 January 2024 30,350
NET BOOK VALUE
At 31 January 2024 30,849
At 31 January 2023 41,133

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 111,180 12,354
Other debtors - 4,609
Directors' current accounts - 50,773
VAT 13,059 9,762
Prepayments 438 1,332
124,677 78,830

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Hire purchase contracts 10,035 10,035
Trade creditors 61,799 19,795
Amounts owed to group undertakings 35,067 143,561
Tax 24,434 9,622
Directors' current accounts 236 -
Accrued expenses 1,858 3,250
133,429 186,263

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 31/1/23
£    £   
Hire purchase contracts 17,979 28,015

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/1/24 31/1/23
value: £    £   
100 Ordinary 1 100 100

MORGAN BROS (LEISURE) LIMITED (REGISTERED NUMBER: 09732159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31/1/24 31/1/23
£    £   
T J Morgan and P W Morgan
Balance outstanding at start of year 50,773 14,182
Amounts advanced 12,991 66,591
Amounts repaid (64,000 ) (30,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (236 ) 50,773

10. RELATED PARTY DISCLOSURES

Morgan Bros (Metalwork Solutions) Limited is a company related by common control.

During the year, Morgan Bros (Metalwork Solutions) Ltd invoiced Morgan Bros (Leisure) Limited for services totalling £193,146 excl. VAT, and received payments of £189,771. In addition to various monies being loaned and repaid between the companies, management charges of £175,000 excl. VAT were charged by Morgan Bros (Metalwork Solutions) Ltd to the company.

At 31 January 2024, included within creditors, was a balance due to Morgan Bros (Metalwork Solutions) Ltd of £96,842 (2023: £163,332). For presentational purposes, this balance is split between Amounts owed to group undertakings (£35,067) and Trade creditors (£61,775).

No interest is charged on outstanding amounts by agreement.