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REGISTERED NUMBER: 07253938 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Morag Thomson Limited

Morag Thomson Limited (Registered number: 07253938)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Morag Thomson Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mrs M E Thomson





REGISTERED OFFICE: The Bower House
1 Loughborough Road
Mountsorrel
Leicestershire
LE12 7AP





REGISTERED NUMBER: 07253938 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Morag Thomson Limited (Registered number: 07253938)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Investments 5 224,540 199,772
224,540 199,772

CURRENT ASSETS
Debtors 6 598,292 616,780
Cash at bank 20,129 22,174
618,421 638,954
CREDITORS
Amounts falling due within one year 7 483,058 509,124
NET CURRENT ASSETS 135,363 129,830
TOTAL ASSETS LESS CURRENT
LIABILITIES

359,903

329,602

CAPITAL AND RESERVES
Called up share capital 8 1 1
Fair value reserve 9 34,187 11,941
Retained earnings 325,715 317,660
SHAREHOLDERS' FUNDS 359,903 329,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2024 and were signed by:




Mrs M E Thomson - Director


Morag Thomson Limited (Registered number: 07253938)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Morag Thomson 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 as modified by the revaluation of certain assets.

Goodwill
Purchased goodwill is amortised at rates calculated to write off asset on a straight line basis over their estimated useful economic lives as follows:

Goodwill - ten years

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 650,000
AMORTISATION
At 1 May 2023
and 30 April 2024 650,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

Goodwill arose on the purchase of the company's share in a partnership.

Morag Thomson Limited (Registered number: 07253938)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 May 2023 199,772
Revaluations 22,246
Dividends received 2,522
At 30 April 2024 224,540
NET BOOK VALUE
At 30 April 2024 224,540
At 30 April 2023 199,772

Cost or valuation at 30 April 2024 is represented by:

Other
investments
£   
Valuation in 2021 25,689
Valuation in 2022 (9,336 )
Valuation in 2023 (1,581 )
Valuation in 2024 24,768
Cost 185,000
224,540

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 185,000 185,000

Fixed asset investments were valued on an open market basis basis on 30 April 2024 by St Jame's Place .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 470,121 488,609
Section 455 tax repayable 128,171 128,171
598,292 616,780

Other than as stated under directors loan account above, none of the above amounts related to amounts due from the director or shareholder of the company either directly or indirectly.

Morag Thomson Limited (Registered number: 07253938)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 1,533 1,690
Other creditors 480,145 506,120
Accruals and deferred income 1,380 1,314
483,058 509,124

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Fair
value
reserve
£   
At 1 May 2023 11,941
Bonus share issue 22,246

At 30 April 2024 34,187

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mrs M E Thomson
Balance outstanding at start of year 488,609 510,526
Amounts advanced 12,373 10,248
Amounts repaid (30,861 ) (32,165 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 470,121 488,609

Interest was charged on the overdrawn director's loan account at HM Revenue & Customs official rate of 2.25% as appropriate.

11. RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided from companies with common directors amounted to £480,145 (2023: £506,120).