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REGISTERED NUMBER: 05937437 (England and Wales)















R MORGAN ELECTRICAL SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






R MORGAN ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05937437)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


R MORGAN ELECTRICAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: L W Butcher





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 05937437 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT

R MORGAN ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05937437)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,470 1,960
Property, plant and equipment 5 58,083 69,711
59,553 71,671

CURRENT ASSETS
Inventories 10,270 10,000
Debtors 6 194,532 222,851
Cash at bank 94,095 137,117
298,897 369,968
CREDITORS
Amounts falling due within one year 7 56,010 64,013
NET CURRENT ASSETS 242,887 305,955
TOTAL ASSETS LESS CURRENT LIABILITIES 302,440 377,626

CREDITORS
Amounts falling due after more than one year 8 (2,222 ) (5,556 )

PROVISIONS FOR LIABILITIES (6,370 ) (12,028 )
NET ASSETS 293,848 360,042

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 293,748 359,942
SHAREHOLDERS' FUNDS 293,848 360,042

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

R MORGAN ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05937437)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2024


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 25 March 2025 and were signed by:





L W Butcher - Director


R MORGAN ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05937437)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

R Morgan Electrical Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Nil
Plant and machinery etc - 25% on reducing balance, 25% on cost and 15% on reducing balance

Property, plant and equipment are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

R MORGAN ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05937437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 25,875 2,450 28,325
AMORTISATION
At 1 October 2023 25,875 490 26,365
Charge for year - 490 490
At 30 September 2024 25,875 980 26,855
NET BOOK VALUE
At 30 September 2024 - 1,470 1,470
At 30 September 2023 - 1,960 1,960

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 9,592 136,628 146,220
Additions - 4,946 4,946
At 30 September 2024 9,592 141,574 151,166
DEPRECIATION
At 1 October 2023 - 76,509 76,509
Charge for year - 16,574 16,574
At 30 September 2024 - 93,083 93,083
NET BOOK VALUE
At 30 September 2024 9,592 48,491 58,083
At 30 September 2023 9,592 60,119 69,711

R MORGAN ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05937437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 74,966 68,801
Other debtors - 4,768
Directors' current accounts 87,101 120,430
Tax 29,397 23,770
Prepayments 3,068 5,082
194,532 222,851

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,333 3,333
Trade creditors 15,078 31,178
Taxation 5,626 23,770
Other taxes and social security 25,585 1,484
Other creditors - 187
Accruals and deferred income 6,388 4,061
56,010 64,013

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 2,222 5,556

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 5,555 8,889

Hire purchase creditors are secured over the assets to which they relate.

10. CALLED UP SHARE CAPITAL

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

R MORGAN ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 05937437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
L W Butcher
Balance outstanding at start of year 120,430 -
Amounts advanced 16,671 170,430
Amounts repaid (50,000 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 87,101 120,430

Loans made to the director are repayable on demand.

Interest is charged on loans to the director at HM Revenue and Customs' approved rates.