Registrar
Registration number:
Morgan Training Solutions Ltd
for the Year Ended 30 September 2024
Morgan Training Solutions Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Morgan Training Solutions Ltd
Company Information
Directors |
S A W Morgan M H Morgan |
Registered office |
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Solicitors |
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Bankers |
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Accountants |
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Morgan Training Solutions Ltd
(Registration number: 08233172)
Balance Sheet as at 30 September 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Retained earnings |
201,044 |
211,576 |
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Shareholders' funds |
201,244 |
211,776 |
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Morgan Training Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office and principle place of business is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of training services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Tax
Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
Morgan Training Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Depreciation
Depreciation is charged so as to write off the cost over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance |
Office equipment, fixtures & fittings |
33% & 25% reducing balance |
Motor vehicles |
25% reducing balance |
Improvements to property |
5% straight line |
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Morgan Training Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Tangible assets |
Improvements to property |
Office equipment, fixtures & fittings |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 October 2023 |
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Additions |
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- |
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Disposals |
- |
( |
- |
- |
( |
At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
- |
- |
( |
At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Directors loan account |
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Prepayments |
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Morgan Training Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £36,000 (2023 - £51,226).
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Creditors include bank loans which are secured of £24,000 (2023 - £60,000). The loan is secured by a debenture.
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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200 |
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200 |
Morgan Training Solutions Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Hire purchase contracts |
- |
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Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Transactions with directors |
2024 |
At 1 October 2023 |
Advances to director |
Repayments by director |
At 30 September 2024 |
Directors loan account |
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( |
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2023 |
At 1 October 2022 |
Advances to director |
Repayments by director |
At 30 September 2023 |
Directors loan account |
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( |
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Non adjusting events after the financial period |
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