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Registered Number: 06482185
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 January 2024

for

MORGAN T VOWLES LIMITED

Directors Morgan Vowles
Geraint Griffith
Mr Geraint Llewelyn Griffith
Registered Number 06482185
Registered Office 154 Trehafod Road
Trehafod
Pontypridd
Rhondda Cynon Taff
CF37 2LL
Accountants Harries Watkins & Jones Ltd
Chartered Accountants
1a Charnwood Park
Bridgend
CF31 3PL
1
Director's report and financial statements
The directors present their report and abridged financial statements for the year ended 31 January 2024.

Small companies provision statement
This report has 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.
Principal activities
Principal activity of the company during the financial year was of an undertaker
Directors
The directors who served the company throughout the year were as follows:

Morgan Vowles
Geraint Griffith
Mr Geraint Llewelyn Griffith
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Morgan Vowles
Director

Date approved: 01 October 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Morgan T Vowles Limited for the year ended 31 January 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Morgan T Vowles Limited for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Morgan T Vowles Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Morgan T Vowles Limited and state those matters that we have agreed to state to the Board of Directors of Morgan T Vowles Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morgan T Vowles Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Morgan T Vowles Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Morgan T Vowles Limited . You consider that Morgan T Vowles Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Morgan T Vowles Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Harries Watkins & Jones Ltd
Chartered Accountants
1a Charnwood Park
Bridgend
CF31 3PL
01 October 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 4 2,000    4,000 
Tangible fixed assets 5 811,186    804,189 
Investments 6 236,767    220,000 
1,049,953    1,028,189 
Current assets      
Stocks 7 45,000    44,500 
Debtors 8 209,022    302,196 
Cash at bank and in hand 41,721    17,029 
295,743    363,725 
Creditors: amount falling due within one year (307,033)   (319,874)
Net current assets (11,290)   43,851 
 
Total assets less current liabilities 1,038,663    1,072,040 
Creditors: amount falling due after more than one year (77,347)   (101,634)
Provisions for liabilities 9 (100,575)   (78,649)
Net assets 860,741    891,757 
 

Capital and reserves
     
Called up share capital 1    1 
Reserves 10 303,714    325,345 
Profit and loss account 557,026    566,411 
Shareholders' funds 860,741    891,757 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 01 October 2024 and were signed on its behalf by:


-------------------------------
Morgan Vowles
Director
4
General Information
Morgan T Vowles Limited is a private company, limited by shares, registered in England and Wales, registration number 06482185, registration address 154 Trehafod Road, Trehafod, Pontypridd, Rhondda Cynon Taff, CF37 2LL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the companys activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings 2%
Plant and machinery etc 5
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Financial Commitments, Guarantees and Contingencies

The total amount of financial commitments not included in the balance sheet is £2,778 (2023 - £2,778).

Included in the balance sheet are financial commitments of £104,152  (2023 - £136,345). Financial commitments are secured via charges over the relevant related assets.

4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 February 2023 30,000    30,000 
Additions  
Disposals  
At 31 January 2024 30,000    30,000 
Amortisation
At 01 February 2023 26,000    26,000 
Charge for year 2,000    2,000 
On disposals  
At 31 January 2024 28,000    28,000 
Net book values
At 31 January 2024 2,000    2,000 
At 31 January 2023 4,000    4,000 


5.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 February 2023 751,240    226,824    978,064 
Additions 5,000    22,927    27,927 
Disposals   (10,000)   (10,000)
At 31 January 2024 756,240    239,751    995,991 
Depreciation
At 01 February 2023   173,875    173,875 
Charge for year   20,929    20,929 
On disposals   (9,999)   (9,999)
At 31 January 2024   184,805    184,805 
Net book values
Closing balance as at 31 January 2024 756,240    54,946    811,186 
Opening balance as at 01 February 2023 751,240    52,949    804,189 

Included within the net book value of land and buildings above is £756,240 (2023 - £751,240) in respect of freehold land and buildings.

Revaluation
The fair value of the company's Land and buildings was revalued on 31 January 2023. An independent valuer was not involved.
The directors revalued the freehold properties on a fair value basis.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £339,087 (2023 - £342,003).

6.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 February 2023 220,000    220,000 
Additions  
Transfer to/from tangible fixed assets 16,767    16,767 
Disposals  
At 31 January 2024 236,767    236,767 
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Details of Undertaking   Proportion of voting rights and shares held 2022
£
  Proportion of voting rights and shares held 2021
£
Humphreys Funeral Home Ltd, 123 North Road Porth Rhondda Cynon Taff CF39 9SL Registered in England & Wales 100  100 

7.

Stocks

2024
£
  2023
£
Stocks 45,000    44,500 
45,000    44,500 

8.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 93,168    297,697 
Other Debtors 115,854    4,499 
209,022    302,196 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 78,649    79,454 
Charged to Profit & Loss 21,926    (805)
100,575    78,649 

10.

Reserves

2024
£
  2023
£
Revaluation Reserve b/fwd 325,346    422,186 
Revaluation of Fixed Assets   (120,779)
Deferred Tax Provided on Revaluation (21,632)   23,938 
303,714    325,345 

5