| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2024 |
| for |
| Morgan Roofing Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2024 |
| for |
| Morgan Roofing Limited |
| Morgan Roofing Limited (Registered number: 02086312) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Morgan Roofing Limited |
| Company Information |
| for the Year Ended 31 May 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 21 Gold Tops |
| Newport |
| South Wales |
| NP20 4PG |
| Morgan Roofing Limited (Registered number: 02086312) |
| Balance Sheet |
| 31 May 2024 |
| 31.5.24 | 31.5.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Morgan Roofing Limited (Registered number: 02086312) |
| Balance Sheet - continued |
| 31 May 2024 |
| The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
| Morgan Roofing Limited (Registered number: 02086312) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2024 |
| 1. | STATUTORY INFORMATION |
| Morgan Roofing Limited is a private company, limited by shares and is incorporated in England and Wales. The company's registered number is 02086312 and the address of its registered office is Woodside Works, Usk, Monmouthshire, NP15 1SS. |
| These financial statements are the company's separate financial statements, covering the year to 31 May 2024 and are presented in Sterling (£), the company's functional currency, rounded to the nearest pound. |
| The accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated. |
| 2. | STATEMENT OF COMPLIANCE |
| The individual financial statements of Morgan Roofing Limited have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover, revenue recognition and amounts recoverable on contracts |
| Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax. |
| Turnover represents the fair value of the sale of materials and services of labour (excluding value added tax) provided during the year on client projects. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients and is based on labour time spent, skills and expertise provided and expenditure incurred. |
| Uninvoiced turnover on client projects is included in amounts recoverable on contracts. Where on-account billings exceed revenue recognised on client projects, the excess is included as payments on account in creditors. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Morgan Roofing Limited (Registered number: 02086312) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| Turnover, revenue recognition and amounts recoverable on contracts |
| Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax. |
| Turnover represents the fair value of the sale of materials and services of labour (excluding value added tax) provided during the year on client projects. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients and is based on labour time spent, skills and expertise provided and expenditure incurred. |
| Uninvoiced turnover on client projects is included in amounts recoverable on contracts. Where on-account billings exceed revenue recognised on client projects, the excess is included as payments on account in creditors. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Morgan Roofing Limited (Registered number: 02086312) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 June 2023 |
| and 31 May 2024 |
| DEPRECIATION |
| At 1 June 2023 |
| Charge for year |
| At 31 May 2024 |
| NET BOOK VALUE |
| At 31 May 2024 |
| At 31 May 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Amounts recoverable on contracts |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| Morgan Roofing Limited (Registered number: 02086312) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2024 |
| 9. | RELATED PARTY DISCLOSURES |
| Included in expenditure is £18,161 (2023:£201,424) purchased from a related party. |
| At the year end, included in creditors is the sum of £323,531(2023:£466,355) and included in debtors is the sum of £334,854 (2023: £461,144) owed to and by entities under the common control of key management personnel. There is no fixed repayment date on these amounts outstanding and no interest has been charged. |