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REGISTERED NUMBER: SC501537 (Scotland)


















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Morgan Press Ltd

Morgan Press Ltd (Registered number: SC501537)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morgan Press Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R Morgan
Mrs J Morgan





SECRETARY: R Morgan





REGISTERED OFFICE: Annandale School Road
Rhu
G84 8RS





REGISTERED NUMBER: SC501537 (Scotland)





ACCOUNTANTS: Macleod Fulton
Scottcourt House
West Princes Street
Helensburgh
Argyll & Bute
G84 8BP

Morgan Press Ltd (Registered number: SC501537)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,775 18,300
Tangible assets 5 2,527 3,381
19,302 21,681

CURRENT ASSETS
Stocks 600 500
Debtors 6 3,149 3,671
Cash at bank 3,896 3,062
7,645 7,233
CREDITORS
Amounts falling due within one year 7 193,026 170,252
NET CURRENT LIABILITIES (185,381 ) (163,019 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(166,079

)

(141,338

)

CREDITORS
Amounts falling due after more than one
year

8

4,667

8,667
NET LIABILITIES (170,746 ) (150,005 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (170,748 ) (150,007 )
SHAREHOLDERS' FUNDS (170,746 ) (150,005 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Press Ltd (Registered number: SC501537)

Balance Sheet - continued
31 March 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 13 December 2024 and were signed on its behalf by:





R Morgan - Director


Morgan Press Ltd (Registered number: SC501537)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Morgan Press Ltd is a private company, limited by shares , registered in Scotland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Going concern
The company's status as a going concern is dependent up the ongoing support of the company directors.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,500
AMORTISATION
At 1 April 2023 12,200
Charge for year 1,525
At 31 March 2024 13,725
NET BOOK VALUE
At 31 March 2024 16,775
At 31 March 2023 18,300

Morgan Press Ltd (Registered number: SC501537)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 10,221
DEPRECIATION
At 1 April 2023 6,840
Charge for year 854
At 31 March 2024 7,694
NET BOOK VALUE
At 31 March 2024 2,527
At 31 March 2023 3,381

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,106 2,698
Other debtors 1,043 973
3,149 3,671

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,000 4,000
Other creditors 189,026 166,252
193,026 170,252

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 4,667 8,667

9. CONTINGENT LIABILITIES

As at 31 March 2024 the company had no contingent liabilities. (2023 - £nil).

10. CAPITAL COMMITMENTS

As at 31 March 2024 the company had no capital commitments. (2023 - £nil).

Morgan Press Ltd (Registered number: SC501537)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. RELATED PARTY DISCLOSURES

As at 31 March 2024, included in creditors is a balance due to R Morgan, director amounting to £93,433(2023 - £81,140), and a balance due to Mrs J Morgan, director amounting to £93,648 (2023 - £83,225). These balances have no fixed payment date and no interest charged thereon.