Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 08841535 Mr Matthew Morgan Mrs Nicola Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08841535 2023-01-31 08841535 2024-01-31 08841535 2023-02-01 2024-01-31 08841535 frs-core:CurrentFinancialInstruments 2024-01-31 08841535 frs-core:ComputerEquipment 2024-01-31 08841535 frs-core:ComputerEquipment 2023-02-01 2024-01-31 08841535 frs-core:ComputerEquipment 2023-01-31 08841535 frs-core:FurnitureFittings 2024-01-31 08841535 frs-core:FurnitureFittings 2023-02-01 2024-01-31 08841535 frs-core:FurnitureFittings 2023-01-31 08841535 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-31 08841535 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 08841535 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-31 08841535 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 08841535 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08841535 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-31 08841535 frs-core:MotorVehicles 2024-01-31 08841535 frs-core:MotorVehicles 2023-02-01 2024-01-31 08841535 frs-core:MotorVehicles 2023-01-31 08841535 frs-core:PlantMachinery 2024-01-31 08841535 frs-core:PlantMachinery 2023-02-01 2024-01-31 08841535 frs-core:PlantMachinery 2023-01-31 08841535 frs-core:RevaluationReserve 2023-02-01 2024-01-31 08841535 frs-core:RevaluationReserve 2023-01-31 08841535 frs-core:RevaluationReserve 2024-01-31 08841535 frs-core:ShareCapital 2024-01-31 08841535 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 08841535 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08841535 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 08841535 frs-bus:SmallEntities 2023-02-01 2024-01-31 08841535 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08841535 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08841535 frs-core:ListedExchangeTraded 2024-01-31 08841535 frs-core:ListedExchangeTraded 2023-01-31 08841535 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-01-31 08841535 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-01-31 08841535 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-01-31 08841535 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2024-01-31 08841535 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-01-31 08841535 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-01-31 08841535 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-01-31 08841535 frs-bus:Director1 2023-02-01 2024-01-31 08841535 frs-bus:Director2 2023-02-01 2024-01-31 08841535 frs-countries:EnglandWales 2023-02-01 2024-01-31 08841535 2022-01-31 08841535 2023-01-31 08841535 2022-02-01 2023-01-31 08841535 frs-core:CurrentFinancialInstruments 2023-01-31 08841535 frs-core:RevaluationReserve 2023-01-31 08841535 frs-core:ShareCapital 2023-01-31 08841535 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 08841535
Morgan Global Logistics Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Pink Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08841535
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 62,466 957
Investments 5 25,267 21,909
87,733 22,866
CURRENT ASSETS
Debtors 6 222,118 141,417
Cash at bank and in hand 323,474 171,601
545,592 313,018
Creditors: Amounts Falling Due Within One Year 7 (316,673 ) (157,525 )
NET CURRENT ASSETS (LIABILITIES) 228,919 155,493
TOTAL ASSETS LESS CURRENT LIABILITIES 316,652 178,359
NET ASSETS 316,652 178,359
CAPITAL AND RESERVES
Called up share capital 8 115 100
Revaluation reserve 9 5,351 1,800
Profit and Loss Account 311,186 176,459
SHAREHOLDERS' FUNDS 316,652 178,359
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Morgan
Director
31/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Morgan Global Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08841535 . The registered office is 28/29a Station Street, Walsall, WS2 9JZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% Straight Line
Leasehold 20% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 February 2023 - - 3,006 -
Additions - - - 63,041
As at 31 January 2024 - - 3,006 63,041
Depreciation
As at 1 February 2023 - - 2,049 -
Provided during the period - - 239 2,627
As at 31 January 2024 - - 2,288 2,627
Net Book Value
As at 31 January 2024 - - 718 60,414
As at 1 February 2023 - - 957 -
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 - - 3,006
Additions - 1,569 64,610
As at 31 January 2024 - 1,569 67,616
Depreciation
As at 1 February 2023 - - 2,049
Provided during the period - 235 3,101
As at 31 January 2024 - 235 5,150
Net Book Value
As at 31 January 2024 - 1,334 62,466
As at 1 February 2023 - - 957
Page 4
Page 5
5. Investments
Listed
£
Cost
As at 1 February 2023 21,909
Additions 22,629
Disposals (22,822 )
Revaluations 3,551
As at 31 January 2024 25,267
Provision
As at 1 February 2023 -
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 25,267
As at 1 February 2023 21,909
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 222,105 141,417
Other debtors 11 -
Other taxes and social security 2 -
222,118 141,417
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 177,220 60,306
Corporation tax 81,915 43,543
VAT 18,327 16,908
Accruals and deferred income 31,200 30,000
Directors' loan accounts 8,011 6,768
316,673 157,525
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 115 100
Page 5
Page 6
9. Reserves
Revaluation Reserve
£
As at 1 February 2023 1,800
Surplus on revaluation 3,551
As at 31 January 2024 5,351
Page 6