0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,731 2,323 4,054 944 695 1,639 2,415 787 xbrli:pure xbrli:shares iso4217:GBP 12206457 2023-10-01 2024-09-30 12206457 2024-09-30 12206457 2023-09-30 12206457 2022-10-01 2023-09-30 12206457 2023-09-30 12206457 2022-09-30 12206457 bus:Director1 2023-10-01 2024-09-30 12206457 core:WithinOneYear 2024-09-30 12206457 core:WithinOneYear 2023-09-30 12206457 core:ShareCapital 2024-09-30 12206457 core:ShareCapital 2023-09-30 12206457 core:RetainedEarningsAccumulatedLosses 2024-09-30 12206457 core:RetainedEarningsAccumulatedLosses 2023-09-30 12206457 bus:SmallEntities 2023-10-01 2024-09-30 12206457 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 12206457 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 12206457 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12206457 bus:FullAccounts 2023-10-01 2024-09-30 12206457 core:OfficeEquipment 2023-10-01 2024-09-30 12206457 core:OfficeEquipment 2023-09-30 12206457 core:OfficeEquipment 2024-09-30
COMPANY REGISTRATION NUMBER: 12206457
Morlack LTD
Filleted Unaudited Financial Statements
30 September 2024
Morlack LTD
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Morlack LTD
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
2,415
787
Current assets
Debtors
6
29,583
Cash at bank and in hand
94,325
49,637
---------
--------
123,908
49,637
Creditors: amounts falling due within one year
7
37,372
24,410
---------
--------
Net current assets
86,536
25,227
--------
--------
Total assets less current liabilities
88,951
26,014
--------
--------
Net assets
88,951
26,014
--------
--------
Capital and reserves
Called up share capital
101
101
Profit and loss account
88,850
25,913
--------
--------
Shareholders funds
88,951
26,014
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Morlack LTD
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 11 May 2025 , and are signed on behalf of the board by:
Ms D C Jesner
Director
Company registration number: 12206457
Morlack LTD
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023 : 1).
5. Tangible assets
Equipment
£
Cost
At 1 October 2023
1,731
Additions
2,323
-------
At 30 September 2024
4,054
-------
Depreciation
At 1 October 2023
944
Charge for the year
695
-------
At 30 September 2024
1,639
-------
Carrying amount
At 30 September 2024
2,415
-------
At 30 September 2023
787
-------
6. Debtors
2024
2023
£
£
Other debtors
29,583
--------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
287
1,777
Corporation tax
27,994
7,180
Social security and other taxes
5,998
Other creditors
3,093
15,453
--------
--------
37,372
24,410
--------
--------
8. Director's advances, credits and guarantees
At the year end, the director owed the company £29,583 (2023: £12,360 creditor).