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REGISTERED NUMBER: 02917748 (England and Wales)















H M Morgan Engineers Limited

Unaudited Financial Statements for the Year Ended 30 April 2024






H M Morgan Engineers Limited (Registered number: 02917748)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H M Morgan Engineers Limited

Company Information
for the Year Ended 30 April 2024







Directors: Mr J R Long
Mrs E Long





Registered office: First Avenue
Trecenydd
CAERPHILLY
CF83 2SD





Registered number: 02917748 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

H M Morgan Engineers Limited (Registered number: 02917748)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 91,075 102,007

Current assets
Stocks 5 121,115 110,210
Debtors 6 280,887 470,146
Cash at bank 29,210 9,351
431,212 589,707
Creditors
Amounts falling due within one year 7 (245,514 ) (345,525 )
Net current assets 185,698 244,182
Total assets less current liabilities 276,773 346,189

Creditors
Amounts falling due after more than one year 8 (15,000 ) (25,834 )

Provisions for liabilities (17,040 ) (19,059 )
Net assets 244,733 301,296

Capital and reserves
Called up share capital 9 20 20
Revaluation reserve 10 76,663 85,181
Retained earnings 10 168,050 216,095
Shareholders' funds 244,733 301,296

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 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.

H M Morgan Engineers Limited (Registered number: 02917748)

Balance Sheet - continued
30 April 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 18 November 2024 and were signed on its behalf by:





Mr J R Long - Director


H M Morgan Engineers Limited (Registered number: 02917748)

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

1. Statutory information

H M Morgan Engineers 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.

Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of engineering services provided to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Plant and machinery is included in the balance sheet at revalued amounts.

Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

H M Morgan Engineers Limited (Registered number: 02917748)

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

2. Accounting policies - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months of less.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year and recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other administrative expenses.

3. Employees and directors

The average number of employees during the year was 13 (2023 - 16 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost or valuation
At 1 May 2023 428,596 42,560 53,352 524,508
Additions - 208 - 208
At 30 April 2024 428,596 42,768 53,352 524,716
Depreciation
At 1 May 2023 331,682 41,215 49,604 422,501
Charge for year 9,692 511 937 11,140
At 30 April 2024 341,374 41,726 50,541 433,641
Net book value
At 30 April 2024 87,222 1,042 2,811 91,075
At 30 April 2023 96,914 1,345 3,748 102,007


5. Stocks
2024 2023
£    £   
Stocks 13,491 18,522
Work-in-progress 107,624 91,688
121,115 110,210

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 272,866 470,146
Tax 8,021 -
280,887 470,146

H M Morgan Engineers Limited (Registered number: 02917748)

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

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 122,102 166,477
Tax - 8,439
Social security and other taxes 21,014 14,819
VAT 2,416 20,690
Other creditors 86,162 121,409
Accrued expenses 3,820 3,691
245,514 345,525

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 15,000 20,000
Bank loans - 2-5 years - 5,834
15,000 25,834

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A 10p 10 10
100 Ordinary B 10p 10 10
20 20

10. Reserves
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2023 216,095 85,181 301,276
Deficit for the year (45,563 ) (45,563 )
Dividends (11,000 ) (11,000 )
Plant & machinery revaluation
depreciation transfer 8,518 (8,518 ) -
At 30 April 2024 168,050 76,663 244,713

11. Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £7,376 (2023: £3,558).

12. Ultimate controlling party

The company is controlled by the directors who own 100% of the called up share capital.