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REGISTERED NUMBER: 13444779 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MORGAN HOLDINGS (MIDLANDS) LIMITED

MORGAN HOLDINGS (MIDLANDS) LIMITED (REGISTERED NUMBER: 13444779)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORGAN HOLDINGS (MIDLANDS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: R J Morgan
A K Morgan
A L Batchelor





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 13444779 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

MORGAN HOLDINGS (MIDLANDS) LIMITED (REGISTERED NUMBER: 13444779)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,000,000 2,000,000

CURRENT ASSETS
Debtors 5 32,064 -

CREDITORS
Amounts falling due within one year 6 453,291 470,948
NET CURRENT LIABILITIES (421,227 ) (470,948 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,578,773

1,529,052

CREDITORS
Amounts falling due after more than one
year

7

932,000

1,112,000
NET ASSETS 646,773 417,052

CAPITAL AND RESERVES
Called up and paid share capital 400 100
Retained earnings 646,373 416,952
646,773 417,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 HOLDINGS (MIDLANDS) LIMITED (REGISTERED NUMBER: 13444779)

BALANCE SHEET - continued
29 FEBRUARY 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 28 November 2024 and were signed on its behalf by:





R J Morgan - Director


MORGAN HOLDINGS (MIDLANDS) LIMITED (REGISTERED NUMBER: 13444779)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Morgan Holdings (Midlands) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Morgan Holdings (Midlands) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Going concern
The financial statements have been prepared on the going concern concept. This assumes that the company will achieve a profitable level of trading and will continue to enjoy the support of their bankers and creditors. The financial statements do not account for any adjustments that would be required if the company was unable to achieve these objectives.

MORGAN HOLDINGS (MIDLANDS) LIMITED (REGISTERED NUMBER: 13444779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. FIXED ASSET INVESTMENTS
Share in
group
undertaking
£   
COST
At 1 March 2023
and 29 February 2024 2,000,000
NET BOOK VALUE
At 29 February 2024 2,000,000
At 28 February 2023 2,000,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 32,064 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 300,677 318,541
Taxation and social security 94 -
Other creditors 152,520 152,407
453,291 470,948

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 932,000 1,112,000

8. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 not to disclose related party transactions with wholly owned members of the group