Registered number
07665845
MORGAN REAL ESTATE PROJECTS LTD
(FORMERLY MORGAN CAPITAL PROJECTS LTD)
UNAUDITED FINANCIAL STATEMENTS
31 March 2024
MORGAN REAL ESTATE PROJECTS LTD Registered number: 07665845
BALANCE SHEET
AT 31 MARCH 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,620 11,971
Investments 4 - 181,818
9,620 193,789
Current assets
Debtors 5 737,794 445,949
Cash at bank and in hand 1,891,870 1,494,967
2,629,664 1,940,916
Creditors: amounts falling due within one year 6 (462,298) (425,086)
Net current assets 2,167,366 1,515,830
Net assets 2,176,986 1,709,619
Capital and reserves
Called up share capital 70 70
Capital redemption reserve 30 30
Profit and loss account 2,176,886 1,709,519
Shareholder's funds 2,176,986 1,709,619
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
SJ Kendall
Director
Approved by the board on 12 May 2025
MORGAN REAL ESTATE PROJECTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Short leasehold property over the lease term
Fixtures, fittings and equipment over 4 years
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2023 44,260 42,003 86,263
Additions - 7,744 7,744
Disposals - (2,459) (2,459)
At 31 March 2024 44,260 47,288 91,548
Depreciation
At 1 April 2023 39,096 35,196 74,292
Charge for the year 5,164 4,931 10,095
On disposals - (2,459) (2,459)
At 31 March 2024 44,260 37,668 81,928
Net book value
At 31 March 2024 - 9,620 9,620
At 31 March 2023 5,164 6,807 11,971
4 Investments
Unlisted
investments
£
Cost or valuation
At 1 April 2023 181,818
Revaluation 6,952
Disposals (188,770)
At 31 March 2024 -
5 Debtors 2024 2023
£ £
Trade debtors 575,194 355,447
Amounts owed by group undertakings and undertakings in which the company has a participating interest 155,878 -
Other debtors 6,722 47,600
Prepayments - 42,902
737,794 445,949
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,500 65,191
Amounts owed to group undertakings and undertakings in which the company has a participating interest 6,734 -
Taxation and social security costs 366,141 284,618
Other creditors 1,426 73,659
Accruals and deferred income 85,497 1,618
462,298 425,086
7 Other information
MORGAN REAL ESTATE PROJECTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
25 Watling Street
London
EC4M 9BR
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