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Company Registration No. 08042190 (England and Wales)
MORGAN HAS SOLICITORS LTD Unaudited accounts for the year ended 30 April 2024
MORGAN HAS SOLICITORS LTD Unaudited accounts Contents
Page
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MORGAN HAS SOLICITORS LTD Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
500 
500 
Tangible assets
62,158 
62,066 
62,658 
62,566 
Current assets
Inventories
734,786 
624,556 
Debtors
483,840 
2,133,269 
Cash at bank and in hand
9,750 
41,652 
1,228,376 
2,799,477 
Creditors: amounts falling due within one year
(786,668)
(2,368,364)
Net current assets
441,708 
431,113 
Total assets less current liabilities
504,366 
493,679 
Creditors: amounts falling due after more than one year
(101,967)
(217,326)
Net assets
402,399 
276,353 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
402,199 
276,153 
Shareholders' funds
402,399 
276,353 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2024 and were signed on its behalf by
Ilkay Aydemir Director Company Registration No. 08042190
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MORGAN HAS SOLICITORS LTD Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
MORGAN HAS SOLICITORS LTD is a private company, limited by shares, registered in England and Wales, registration number 08042190. The registered office is 123 Stoke Newington Road, London, N16 8BT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on Reducing balance method
Fixtures & fittings
15% on Reducing balance method
Computer equipment
15% on Reducing balance method
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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MORGAN HAS SOLICITORS LTD Notes to the Accounts for the year ended 30 April 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2023
500 
At 30 April 2024
500 
Amortisation
At 1 May 2023
- 
At 30 April 2024
- 
Net book value
At 30 April 2024
500 
At 30 April 2023
500 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
219,133 
9,256 
- 
228,389 
Additions
- 
- 
11,061 
11,061 
At 30 April 2024
219,133 
9,256 
11,061 
239,450 
Depreciation
At 1 May 2023
158,616 
7,707 
- 
166,323 
Charge for the year
9,078 
232 
1,659 
10,969 
At 30 April 2024
167,694 
7,939 
1,659 
177,292 
Net book value
At 30 April 2024
51,439 
1,317 
9,402 
62,158 
At 30 April 2023
60,517 
1,549 
- 
62,066 
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MORGAN HAS SOLICITORS LTD Notes to the Accounts for the year ended 30 April 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
259,638 
49,882 
Amounts due from group undertakings etc.
- 
264,897 
Accrued income and prepayments
146,690 
420,277 
Other debtors
77,512 
1,398,213 
483,840 
2,133,269 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
48,840 
262,840 
VAT
86,571 
220,982 
Trade creditors
306,383 
608,861 
Amounts owed to group undertakings and other participating interests
30,000 
- 
Taxes and social security
172,698 
271,967 
Other creditors
142,176 
1,003,714 
786,668 
2,368,364 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
101,967 
217,326 
9
Average number of employees
During the year the average number of employees was 33 (2023: 24).
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