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REGISTERED NUMBER: 02999424 (England and Wales)


















de Morgan & Co Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






de Morgan & Co Limited (Registered number: 02999424)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


de Morgan & Co Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: A C de Morgan





SECRETARY: A C de Morgan





REGISTERED OFFICE: 1 Cornhill
London
EC3V 3ND





REGISTERED NUMBER: 02999424 (England and Wales)





ACCOUNTANTS: DSJ Partners (UK) Limited
2nd Floor
1 Bell Street
London
NW1 5BY

de Morgan & Co Limited (Registered number: 02999424)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,537 2,050
Investments 5 50 50
Investment property 6 3,362,069 3,362,069
3,363,656 3,364,169

CURRENT ASSETS
Debtors 7 243,476 270,858
Cash at bank 387 391
243,863 271,249
CREDITORS
Amounts falling due within one year 8 (400,776 ) (353,943 )
NET CURRENT LIABILITIES (156,913 ) (82,694 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,206,743 3,281,475

PROVISIONS FOR LIABILITIES 9 (216,455 ) (216,455 )
NET ASSETS 2,990,288 3,065,020

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 920,305 920,305
Retained earnings 2,069,883 2,144,615
2,990,288 3,065,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

de Morgan & Co Limited (Registered number: 02999424)

Balance Sheet - continued
31 August 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 27 May 2025 and were signed by:





A C de Morgan - Director


de Morgan & Co Limited (Registered number: 02999424)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

de Morgan & Co 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received for services in the ordinary course of business , excluding value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertaking is recognised at cost less provision for impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

de Morgan & Co Limited (Registered number: 02999424)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Pension costs
Contributions payable to pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company had net current liabilities of £156,913 as at the year end.
On the basis that the director will provide additional support if necessary to meet the company's liabilities as and when they fall due, the 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. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 September 2023
and 31 August 2024 39,009
DEPRECIATION
At 1 September 2023 36,959
Charge for year 513
At 31 August 2024 37,472
NET BOOK VALUE
At 31 August 2024 1,537
At 31 August 2023 2,050

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 50
NET BOOK VALUE
At 31 August 2024 50
At 31 August 2023 50

de Morgan & Co Limited (Registered number: 02999424)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 3,362,069
NET BOOK VALUE
At 31 August 2024 3,362,069
At 31 August 2023 3,362,069

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2022 454,448
Valuation in 2017 180,499
Valuation in 2016 498,866
Cost 2,228,256
3,362,069

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,400 21,814
Directors Current Account 166,530 179,406
Tax 61,006 61,006
Prepayments 6,540 8,632
243,476 270,858

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 55,358 38,264
Trade creditors 37,417 33,063
Taxation and social security 191,610 241,099
Other creditors 116,391 41,517
400,776 353,943

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 216,455 216,455

de Morgan & Co Limited (Registered number: 02999424)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 216,455
Movement in the year
Balance at 31 August 2024 216,455

10. RELATED PARTY DISCLOSURES

During the year the director was provided with a loan of £166,530 (2023: £179,406). The amount is outstanding at the year end.