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Registered number: 03347317
Morgan Plastering and Dry Lining Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Adey, Fitzgerald and Walker
Chartered Certified Accountants
The Pavilion
60 Eastgate
Cowbridge
Vale of Glamorgan
CF71 7AB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03347317
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,812 1,812
1,812 1,812
CURRENT ASSETS
Stocks 5 1,063 971
Debtors 6 1,806 1,536
Cash at bank and in hand 5,660 5,379
8,529 7,886
Creditors: Amounts Falling Due Within One Year 7 (14,175 ) (11,244 )
NET CURRENT ASSETS (LIABILITIES) (5,646 ) (3,358 )
TOTAL ASSETS LESS CURRENT LIABILITIES (3,834 ) (1,546 )
NET LIABILITIES (3,834 ) (1,546 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (3,836 ) (1,548 )
SHAREHOLDERS' FUNDS (3,834) (1,546)
Page 1
Page 2
For the year ending 31 May 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
D J Morgan
Director
24/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Morgan Plastering and Dry Lining Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03347317 . The registered office is c/o Adey, Fitzgerald and Walker, The Pavilion, 60 Eastgate, Cowbridge, Vale of Glamorgan, CF71 7AB.
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. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 25% written down value
Motor Vehicles 25% written down value
Fixtures & Fittings 25% written down value
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2023 3,683 1,500 1,667 6,850
As at 31 May 2024 3,683 1,500 1,667 6,850
Depreciation
As at 1 June 2023 2,610 1,357 1,071 5,038
As at 31 May 2024 2,610 1,357 1,071 5,038
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 May 2024 1,073 143 596 1,812
As at 1 June 2023 1,073 143 596 1,812
5. Stocks
2024 2023
£ £
Materials 256 241
Work in progress 807 730
1,063 971
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,481 1,297
Prepayments and accrued income 325 239
1,806 1,536
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 40 223
Accruals and deferred income 2,139 2,043
Director's loan account 11,996 8,978
14,175 11,244
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4