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REGISTERED NUMBER: 05517090 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MORGAN ENGINEERING LIMITED

MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MORGAN ENGINEERING LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTORS: Mr J T Morgan
Mr P J Purvis
Mrs B A Purvis





SECRETARY: Mr J T Morgan





REGISTERED OFFICE: Unit 5-6
Crucible Court
Mushett Industrial Park
Coleford
Gloucestershire
GL16 8RE





REGISTERED NUMBER: 05517090 (England and Wales)





ACCOUNTANTS: Kingscott Dix (Cheltenham) Limited
7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN

MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 46,287 64,963
46,287 64,963

CURRENT ASSETS
Stocks 24,055 19,924
Debtors 6 370,392 293,633
Cash at bank 42,223 126,250
436,670 439,807
CREDITORS
Amounts falling due within one year 7 (234,082 ) (254,150 )
NET CURRENT ASSETS 202,588 185,657
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,875

250,620

CREDITORS
Amounts falling due after more than one
year

8

(12,533

)

(32,418

)

PROVISIONS FOR LIABILITIES 10 (11,333 ) (16,503 )
NET ASSETS 225,009 201,699

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 224,909 201,599
SHAREHOLDERS' FUNDS 225,009 201,699

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 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 ENGINEERING LIMITED (REGISTERED NUMBER: 05517090)

BALANCE SHEET - 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:




Mr J T Morgan - Director



Mr P J Purvis - Director


MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Morgan Engineering 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.

Significant judgements and estimates
The directors are of the opinion that there are no significant judgements or estimations used in preparing the financial statements.

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

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, 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 Profit and loss account, 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.

MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090)

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 balance sheet. 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 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 203,450
AMORTISATION
At 1 October 2023
and 30 September 2024 203,450
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 363,437 9,490 8,732 381,659
DEPRECIATION
At 1 October 2023 303,264 5,694 7,738 316,696
Charge for year 16,529 1,898 249 18,676
At 30 September 2024 319,793 7,592 7,987 335,372
NET BOOK VALUE
At 30 September 2024 43,644 1,898 745 46,287
At 30 September 2023 60,173 3,796 994 64,963

MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2023
and 30 September 2024 74,265
DEPRECIATION
At 1 October 2023 52,491
Charge for year 5,934
At 30 September 2024 58,425
NET BOOK VALUE
At 30 September 2024 15,840
At 30 September 2023 21,774

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 368,196 262,151
Other debtors 1,184 30,525
Prepayments 1,012 957
370,392 293,633

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 8,293 12,410
Trade creditors 74,131 101,977
Tax 44,993 47,375
Social security and other taxes 88,189 74,011
Other creditors 1,390 1,089
Directors' current accounts 1,761 2,148
Accrued expenses 5,325 5,140
234,082 254,150

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 6,667 10,000
Bank loans - 2-5 years - 6,667
Hire purchase contracts 5,866 15,751
12,533 32,418

MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 16,667 26,667
Hire purchase contracts 14,159 28,161
30,826 54,828

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 11,333 16,503

Deferred
tax
£   
Balance at 1 October 2023 16,503
Provided during year (5,170 )
Balance at 30 September 2024 11,333