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REGISTERED NUMBER: 01041042 (England and Wales)















Morfa Developments Limited

Unaudited Financial Statements for the Year Ended 30 June 2024






Morfa Developments Limited (Registered number: 01041042)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Morfa Developments Limited

Company Information
for the Year Ended 30 June 2024







Director: Mr A V John





Registered office: Unit 7
Neptune Court
Vanguard Way
Cardiff
South Glamorgan
CF24 5PJ





Registered number: 01041042 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Morfa Developments Limited (Registered number: 01041042)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
Current assets
Stocks 1,694 1,694
Cash at bank 437 572
2,131 2,266
Creditors
Amounts falling due within one year 4 (68,700 ) (67,146 )
Net current liabilities (66,569 ) (64,880 )
Total assets less current liabilities (66,569 ) (64,880 )

Capital and reserves
Called up share capital 5 100 100
Retained earnings 6 (66,669 ) (64,980 )
Shareholders' funds (66,569 ) (64,880 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 March 2025 and were signed by:





Mr A V John - Director


Morfa Developments Limited (Registered number: 01041042)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. Statutory information

Morfa Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Stocks
Land and sites in course of development.

These are stated at the lower of direct costs and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Going concern
As at 30 June 2022 the company reported net liabilities of £64,918 (2022: £63,885).

Included within creditors are amounts due to the directors of £33,150 (2022: £32,650) and amounts due to a related party of £33,150 (2022: 32,650). The directors confirm that these will not be sought for repayment until such time as the company has sufficient funds to do so.

Based on this fact, these accounts have been prepared on a going concern basis.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Creditors: amounts falling due within one year
2024 2023
£    £   
Other loans 33,900 33,150
Directors' current accounts 33,900 33,150
Accrued expenses 900 846
68,700 67,146

Morfa Developments Limited (Registered number: 01041042)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

6. Reserves
Retained
earnings
£   

At 1 July 2023 (64,980 )
Deficit for the year (1,689 )
At 30 June 2024 (66,669 )

7. Directors' advances, credits and guarantees

The following advances and credits from a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr A V John
Balance outstanding at start of year 33,150 32,650
Amounts advanced 750 500
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,900 33,150

8. Related party disclosures

Included within creditors is an amount due to a related party of £33,900 (2022: £33,150).

9. Ultimate controlling party

The company is under control of Mrs M John who holds 51% of the issued share capital.