Caseware UK (AP4) 2023.0.135 2023.0.135 20false2023-05-01falseNo description of principal activity15trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02759456 2023-05-01 2024-04-30 02759456 2022-05-01 2023-04-30 02759456 2024-04-30 02759456 2023-04-30 02759456 c:Director1 2023-05-01 2024-04-30 02759456 d:CurrentFinancialInstruments 2024-04-30 02759456 d:CurrentFinancialInstruments 2023-04-30 02759456 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 02759456 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02759456 d:ShareCapital 2024-04-30 02759456 d:ShareCapital 2023-04-30 02759456 d:RetainedEarningsAccumulatedLosses 2024-04-30 02759456 d:RetainedEarningsAccumulatedLosses 2023-04-30 02759456 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-05-01 2024-04-30 02759456 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-04-30 02759456 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-30 02759456 c:FRS102 2023-05-01 2024-04-30 02759456 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02759456 c:FullAccounts 2023-05-01 2024-04-30 02759456 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02759456 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure


















Morgans Ltd























Unaudited

Financial statements



For the year ended 30 April 2024



Registered number: 02759456

 
Morgans Ltd - Registered number:02759456


Statement of financial position
As at 30 April 2024

2024
2024
2023
2023
Note
£
£
£
£

  

Current assets
  

Debtors
 4 
766,375
607,906

Cash at bank and in hand
  
44,111
13,083

  
810,486
620,989

Creditors: amounts falling due within one year
 5 
(29,479)
(32,013)

Net current assets
  
 
 
781,007
 
 
588,976

Total assets less current liabilities
  
781,007
588,976

Provisions for liabilities
  

Other provisions
 6 
-
(1,450)

  
 
 
-
 
 
(1,450)

Net assets
  
781,007
587,526


Capital and reserves
  

Share capital
  
1,000
1,000

Profit and loss account
  
780,007
586,526

  
781,007
587,526


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
Morgans Ltd - Registered number:02759456


Statement of financial position (continued)
As at 30 April 2024

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and signed by the director: 




................................................
M R Gould
Director

Date: 30 January 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
Morgans Ltd
 
 

Notes to the financial statements
For the year ended 30 April 2024

1.


General information

Morgans Ltd is a private company limited by shares and was incorporated in England and Wales. Its registered office and principal place of business is 41 Gay Street, Bath, BA1 2NT and its registered number is 02759456.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
On contracts where the company is supplying initial or one-off advisor services, the turnover is recognised when the fee invoice is generated.
On contracts involving ongoing management, turnover is recognised on a monthly basis.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Operating leases: the company as lessee

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

Page 3

 
Morgans Ltd
 

Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.7

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.9

Current and deferred taxation

Tax is recognised in profit or loss, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.


3.


Employees

The average monthly number of employees, including the directors, during the year was 15 (2023 - 20).

Page 4

 
Morgans Ltd
 
 

Notes to the financial statements
For the year ended 30 April 2024

4.


Debtors

2024
2023
£
£


Trade debtors
48,181
48,486

Amounts owed by group undertakings
718,194
559,420

766,375
607,906



5.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
11,119
9,684

Corporation tax
4,555
6,098

Other taxation and social security
9,995
16,231

Other creditors
3,810
-

29,479
32,013



6.


Provisions






£





At 1 May 2023
1,450


Transfered to other creditors
(1,450)



At 30 April 2024
-


Page 5