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Registration number: 14952558

Morgan Casey Limited

Unaudited Filleted Financial Statements

for the Period from 22 June 2023 to 30 June 2024

 

Morgan Casey Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Morgan Casey Limited

Company Information

Director

PC Brady

Registered office

28 Brock Street
Bath
Somerset
BA1 2LN

Accountants

Balance Accounts Limited
Chartered Certified Accountants
4 Beau Street
Bath
BA1 1QY

 

Morgan Casey Limited

(Registration number: 14952558)
Balance Sheet as at 30 June 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

205

Current assets

 

Debtors

5

4,520

Cash at bank and in hand

 

2,046

 

6,566

Creditors: Amounts falling due within one year

6

(11,414)

Net current liabilities

 

(4,848)

Net liabilities

 

(4,643)

Capital and reserves

 

Called up share capital

7

100

Retained earnings

(4,743)

Shareholders' deficit

 

(4,643)

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 21 March 2025
 

.........................................
PC Brady
Director

 

Morgan Casey Limited

Notes to the Unaudited Financial Statements for the Period from 22 June 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
28 Brock Street
Bath
Somerset
BA1 2LN
United Kingdom

These financial statements were authorised for issue by the director on 21 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

During the period the company made a loss and at the year end there were negative liabilities of £4,643.

It was therefore necessary to consider the appropriateness of preparing the accounts on the going concern basis.

The director has made a loan to the company and the balance owing to him at the year end was £10,514. The director has confirmed their ongoing support of the company which will enable it to meet its financial obligations as they fall due.

It was therefore considered appropriate to prepare the accounts on the going concern basis.

 

Morgan Casey Limited

Notes to the Unaudited Financial Statements for the Period from 22 June 2023 to 30 June 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Morgan Casey Limited

Notes to the Unaudited Financial Statements for the Period from 22 June 2023 to 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Morgan Casey Limited

Notes to the Unaudited Financial Statements for the Period from 22 June 2023 to 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

246

246

At 30 June 2024

246

246

Depreciation

Charge for the period

41

41

At 30 June 2024

41

41

Carrying amount

At 30 June 2024

205

205

5

Debtors

Current

2024
£

Trade debtors

1,500

Other debtors

3,020

 

4,520

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts due to related parties

10,514

Accruals

 

900

 

11,414

 

Morgan Casey Limited

Notes to the Unaudited Financial Statements for the Period from 22 June 2023 to 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100