Registered number
06170858
Morf Designs Ltd
Filleted Accounts
31 March 2024
Morf Designs Ltd
Registered number: 06170858
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 413 516
Current assets
Stocks 2,000 2,000
Debtors 5 5,772 453
Cash at bank and in hand 2,311 4,593
10,083 7,046
Creditors: amounts falling due within one year 6 (5,507) (300)
Net current assets 4,576 6,746
Net assets 4,989 7,262
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,988 7,261
Shareholder's funds 4,989 7,262
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs L Orford Morgan
Director
Approved by the board on 22.10.2024
Morf Designs Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 25,326
At 31 March 2024 25,326
Amortisation
At 1 April 2023 25,326
At 31 March 2024 25,326
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 2,598
At 31 March 2024 2,598
Depreciation
At 1 April 2023 2,082
Charge for the year 103
At 31 March 2024 2,185
Net book value
At 31 March 2024 413
At 31 March 2023 516
5 Debtors 2024 2023
£ £
Trade debtors 5,575 -
Other debtors 197 453
5,772 453
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,983 -
Taxation and social security costs 224 -
Other creditors 300 300
5,507 300
7 Other information
Morf Designs Ltd is a private company limited by shares and incorporated in England & Wales. Its registered office is:
16 Haisbro Avenue
Newport
South Wales
NP19 7HY
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