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Registered number: 7839553
Mor'Manik Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Maurice J Bushell & Co Ltd.
Chartered Certified Accountants
Office 12
Epsilon House
Ipswich
Suffolk
IP3 9FJ
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Mor'Manik Ltd for the year ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Mor'Manik Ltd which comprise the Profit and Loss Account, 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 of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Mor'Manik Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Mor'Manik Ltd and state those matters that we have agreed to state to the director of Mor'Manik Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mor'Manik Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Mor'Manik Ltd 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 or loss of Mor'Manik Ltd . You consider that Mor'Manik Ltd 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 Mor'Manik Ltd . 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 financial statements.
Signed
Maurice J Bushell & Co Ltd
28 February 2025
Maurice J Bushell & Co Ltd.
Chartered Certified Accountants
Office 12
Epsilon House
Ipswich
Suffolk
IP3 9FJ
Page 1
Page 2
Balance Sheet
Registered number: 7839553
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,276 32,594
21,276 32,594
CURRENT ASSETS
Debtors 5 1,433 1,433
Cash at bank and in hand 2,679 7,264
4,112 8,697
Creditors: Amounts Falling Due Within One Year 6 (329,942 ) (319,317 )
NET CURRENT ASSETS (LIABILITIES) (325,830 ) (310,620 )
TOTAL ASSETS LESS CURRENT LIABILITIES (304,554 ) (278,026 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (945 ) (972 )
NET LIABILITIES (305,499 ) (278,998 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Other reserves 2,363 2,363
Profit and Loss Account (307,962 ) (281,461 )
SHAREHOLDERS' FUNDS (305,499) (278,998)
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stephen George Carr
Director
28 February 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Mor'Manik Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 7839553 . The registered office is C/O Mjb Avanti, Office 12 Epsilon House, West Road, Ipswich, IP3 9FJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Page 4
Page 5
2.6. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 92,572 11,580 20,423 66,042 190,617
As at 31 March 2024 92,572 11,580 20,423 66,042 190,617
Depreciation
As at 1 April 2023 74,058 8,737 13,092 62,136 158,023
Provided during the period 7,798 711 1,833 976 11,318
As at 31 March 2024 81,856 9,448 14,925 63,112 169,341
Net Book Value
As at 31 March 2024 10,716 2,132 5,498 2,930 21,276
As at 1 April 2023 18,514 2,843 7,331 3,906 32,594
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,433 1,433
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 530 455
Other taxes and social security 977 2,078
Lammy Lamb Loan 220,190 220,190
Lynda Carr Loan 25,769 25,769
Accruals and deferred income 1,228 3,038
Director's loan account 81,248 67,787
329,942 319,317
Page 5
Page 6
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6