G Morgan Rail Services Limited


FINANCIAL STATEMENTS


for the period ended 31st March 2024



G Morgan Rail Services Limited

CONTENTS

for the period ended 31st March 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

G Morgan Rail Services Limited

Company No. 09684111

STATEMENT OF FINANCIAL POSITION

as at 31st March 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment41245528692
1245528692
CURRENT ASSETS
Stocks5-1812
Cash at bank and in hand18403888
18405700
CURRENT LIABILITIES
Creditors: amounts falling due
within one year63041034166
NET CURRENT LIABILITIES(28570)(28466)
TOTAL ASSETS LESS CURRENT LIABILITIES(16115)226
 
Creditors: amounts falling due
after more than one year--
 
NET ASSETS(16115)226
 
CAPITAL AND RESERVES
Called up share capital11
Retained earnings(16116)225
SHAREHOLDERS FUNDS(16115)226

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the period ended 31st March 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

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.

Approved by the Board on 9 December 2024


G Morgan

Director

Company Number 09684111 (England)

G Morgan Rail Services Limited

NOTES TO THE ACCOUNTS

for the period ended 31st March 2024


1   Statutory information

G Morgan Rail Services Limited is a private company limited by shares and registered under company number 09684111 in England. Its registered office address is 12 Hatherley Road, Sidcup, Kent, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles25% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3   Employee information

The average number of employees during the accounting period was 1 (2023 - 1).

4   Property, plant and equipment
 
PlantFixtures
andand
MachineryFittingsTotal
£££
Cost
At 1st August 2023 4332855243880
Additions-12491249
At 31st March 202443328180145129
 
Depreciation
At 1st August 2023 1476642215188
Charge for year1714134517486
At 31st March 20243190776732674
 
Net Book Value
At 31st March 202411421103412455
At 31st July 20232856213028692

5   Stocks20242023
££
 
Work in progress-1812
-1812

The difference between purchase price or production cost of stocks and their replacement cost is not material.


6   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts57706467
Corporation tax389389
Other creditors2425115160
Accruals and deferred income-12150
3041034166

7   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
G Morgan2229513676
2229513676

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