2023-05-012024-04-302024-04-30false03635675T J Morgan (Barry) 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T J Morgan (Barry) Limited

Registered Number
03635675
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

T J Morgan (Barry) Limited
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Ryan Blanche
Ioan Evans
Jake Roberts

Registered Address

46 Vale Business Park
Llandow
Cowbridge
CF71 7PF

Registered Number

03635675 (England and Wales)
T J Morgan (Barry) Limited
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-6,339
Tangible assets4448,000209,142
448,000215,481
Current assets
Stocks519,25019,250
Debtors62,152,3141,779,747
Cash at bank and on hand10,60637,783
2,182,1701,836,780
Creditors amounts falling due within one year7(561,529)(412,496)
Net current assets (liabilities)1,620,6411,424,284
Total assets less current liabilities2,068,6411,639,765
Creditors amounts falling due after one year8(345,192)(76,810)
Provisions for liabilities10(45,383)(39,737)
Net assets1,678,0661,523,218
Capital and reserves
Called up share capital22
Profit and loss account1,678,0641,523,216
Shareholders' funds1,678,0661,523,218
The financial statements were approved and authorised for issue by the Board of Directors on 31 January 2025, and are signed on its behalf by:
Ioan Evans
Director
Registered Company No. 03635675
T J Morgan (Barry) Limited
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives: - Goodwill 25 years
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.Average number of employees

20242023
Average number of employees during the year1612
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 May 23170,000170,000
At 30 April 24170,000170,000
Amortisation and impairment
At 01 May 23163,661163,661
Charge for year6,3396,339
At 30 April 24170,000170,000
Net book value
At 30 April 24--
At 30 April 236,3396,339
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 May 23668,09659,76121,14626,821775,824
Additions233,18671,990-118305,294
At 30 April 24901,282131,75121,14626,9391,081,118
Depreciation and impairment
At 01 May 23494,89552,74113,8375,209566,682
Charge for year55,7546,2541,0973,33166,436
At 30 April 24550,64958,99514,9348,540633,118
Net book value
At 30 April 24350,63372,7566,21218,399448,000
At 30 April 23173,2017,0207,30921,612209,142
5.Stocks

2024

2023

££
Other stocks19,25019,250
Total19,25019,250
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables397,018335,967
Amounts owed by associates and joint ventures / participating interests1,733,8711,389,869
Other debtors-3,772
Prepayments and accrued income21,42550,139
Total2,152,3141,779,747
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables393,357263,641
Bank borrowings and overdrafts-9,635
Taxation and social security82,22297,516
Other creditors80,94927,103
Accrued liabilities and deferred income5,00114,601
Total561,529412,496
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Other creditors345,19276,810
Total345,19276,810
9.Obligations under finance leases
Finance Arrangements Liability due < 1 year 58,849.96 Liability due > 1 year 315,568.65 Of Which Creditors Liability due < 1 year 49,891.00 Liability due > 1 year 268,135.87
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)45,38339,737
Total45,38339,737