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Registered Number: SC604783
Scotland

 

 

 

GARETH JAMES MORGAN LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 February 2024

End date: 31 January 2025
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Gareth James Morgan Limited for the year ended 31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gareth James Morgan Limited for the year ended 31 January 2025 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Gareth James Morgan Limited , as a body, in accordance with the terms of our engagement letter dated 26 March 2025. Our work has been undertaken solely to prepare for your approval the accounts of Gareth James Morgan Limited and state those matters that we have agreed to state to the Board of Directors of Gareth James Morgan Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gareth James Morgan Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gareth James Morgan Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gareth James Morgan Limited . You consider that Gareth James Morgan Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Gareth James Morgan Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
31 January 2025



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
26 March 2025
1
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 19,695    24,619 
Investments 4 234,639    101,913 
254,334    126,532 
Current assets      
Cash at bank and in hand 177    27,232 
Creditors: amount falling due within one year (544,725)   (559,892)
Net current assets (544,548)   (532,660)
 
Total assets less current liabilities (290,214)   (406,128)
Creditors: amount falling due after more than one year (900)   (5,287)
Net assets (291,114)   (411,415)
 

Capital and reserves
     
Called up share capital 5 1    1 
Other Comprehensive Income 6 122,726   
Profit and loss account (413,841)   (411,416)
Shareholders' funds (291,114)   (411,415)
 


For the year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 26 March 2025 and were signed by:


-------------------------------
Gareth Morgan
Director
2
General Information
Gareth James Morgan Limited is a private company, limited by shares, registered in Scotland, registration number SC604783, registration address Sgarbach House 10 Binniehill Road , Cumbernauld, Glasgow , G68 9AJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Reducing Balance
Plant and Machinery 20% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

1
Average number of employees during the year was 1 (2024 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 February 2024 30,773    10,850    41,623 
Additions    
Disposals    
At 31 January 2025 30,773    10,850    41,623 
Depreciation
At 01 February 2024 6,154    10,850    17,004 
Charge for year 4,924      4,924 
On disposals    
At 31 January 2025 11,078    10,850    21,928 
Net book values
Closing balance as at 31 January 2025 19,695      19,695 
Opening balance as at 01 February 2024 24,619      24,619 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 February 2024 101,913    101,913 
Additions 10,000    10,000 
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 122,726    122,726 
At 31 January 2025 234,639    234,639 

5.

Share Capital

Authorised
100 Class A shares of £0.01 each
Allotted, called up and fully paid
2025
£
  2024
£
100 Class A shares of £0.01 each  
 

6.

Other Comprehensive Income

2025
£
  2024
£
Unrealized Gains or losses 122,726   
122,726   

3