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REGISTERED NUMBER: 09807626 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MORGAN DOUGLAS LTD

MORGAN DOUGLAS LTD (REGISTERED NUMBER: 09807626)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORGAN DOUGLAS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: G B M Bern
D A McCarroll





REGISTERED OFFICE: 94 Elvet Bridge
Durham
DH1 3AG





REGISTERED NUMBER: 09807626 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

MORGAN DOUGLAS LTD (REGISTERED NUMBER: 09807626)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 277,597 122,046

CURRENT ASSETS
Debtors 5 592,470 491,166
Cash at bank and in hand 39,647 75,987
632,117 567,153
CREDITORS
Amounts falling due within one year 6 170,915 140,133
NET CURRENT ASSETS 461,202 427,020
TOTAL ASSETS LESS CURRENT
LIABILITIES

738,799

549,066

CREDITORS
Amounts falling due after more than one
year

7

(171,733

)

(74,945

)

PROVISIONS FOR LIABILITIES (37,110 ) (21,976 )
NET ASSETS 529,956 452,145

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 529,856 452,045
SHAREHOLDERS' FUNDS 529,956 452,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 DOUGLAS LTD (REGISTERED NUMBER: 09807626)

BALANCE SHEET - continued
30 SEPTEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





G B M Bern - Director


MORGAN DOUGLAS LTD (REGISTERED NUMBER: 09807626)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Morgan Douglas Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MORGAN DOUGLAS LTD (REGISTERED NUMBER: 09807626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 210,305
Additions 242,600
Disposals (34,563 )
At 30 September 2024 418,342
DEPRECIATION
At 1 October 2023 88,259
Charge for year 61,667
Eliminated on disposal (9,181 )
At 30 September 2024 140,745
NET BOOK VALUE
At 30 September 2024 277,597
At 30 September 2023 122,046

MORGAN DOUGLAS LTD (REGISTERED NUMBER: 09807626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023 108,321
Additions 234,052
Disposals (34,563 )
At 30 September 2024 307,810
DEPRECIATION
At 1 October 2023 42,291
Charge for year 43,719
Eliminated on disposal (9,181 )
At 30 September 2024 76,829
NET BOOK VALUE
At 30 September 2024 230,981
At 30 September 2023 66,030

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,151 17,975
Other debtors 556,319 473,191
592,470 491,166

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,164 10,164
Hire purchase contracts (see note 8) 51,063 14,618
Trade creditors 2,035 3,732
Taxation and social security 66,210 84,594
Other creditors 41,443 27,025
170,915 140,133

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,872 18,036
Hire purchase contracts (see note 8) 163,861 56,909
171,733 74,945

MORGAN DOUGLAS LTD (REGISTERED NUMBER: 09807626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 51,063 14,618
Between one and five years 163,861 56,909
214,924 71,527

Non-cancellable operating leases
2024 2023
£    £   
Within one year 41,500 41,500
Between one and five years 91,500 133,000
In more than five years 75,000 100,000
208,000 274,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 214,924 71,527

The hire purchase contracts are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
G B M Bern
Balance outstanding at start of year - -
Amounts advanced 50,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 50,000 -

MORGAN DOUGLAS LTD (REGISTERED NUMBER: 09807626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

D A McCarroll
Balance outstanding at start of year - -
Amounts advanced 50,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 50,000 -

12. RELATED PARTY DISCLOSURES

During the year Morgan Douglas Limited incurred a number of expenses on behalf of companies connected to it by way of common directors/share holders. Those expenses are accounted for as a rolling loan facility between the companies and is included in other debtors. The amount outstanding at the year end was £448,633 (2023: £459,005). There are no formally documented loan agreements. The balances are unsecured and interest free.