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REGISTERED NUMBER: 03833402 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

MORGAN & QUINN LIMITED

MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MORGAN & QUINN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2025







DIRECTORS: D Morgan
G Quinn
C A Quinn
L Quinn





REGISTERED OFFICE: 1 Church Street
Goole
North Humberside
DN14 5BA





REGISTERED NUMBER: 03833402 (England and Wales)





ACCOUNTANTS: Sutton McGrath Hartley Limited
5 Westbrook Court
Sharrowvale Road
Sheffield
S11 8YZ

MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 506
Tangible assets 5 611,695 616,586
611,695 617,092

CURRENT ASSETS
Stocks 6 238,979 234,103
Debtors 7 360,155 429,835
Cash at bank 371,011 133,739
970,145 797,677
CREDITORS
Amounts falling due within one year 8 611,384 535,870
NET CURRENT ASSETS 358,761 261,807
TOTAL ASSETS LESS CURRENT LIABILITIES 970,456 878,899

CREDITORS
Amounts falling due after more than one
year

9

(285,345

)

(338,534

)

PROVISIONS FOR LIABILITIES 13 (85,794 ) (46,196 )
NET ASSETS 599,317 494,169

CAPITAL AND RESERVES
Called up share capital 14 20 20
Revaluation reserve 15 181,581 139,497
Retained earnings 417,716 354,652
SHAREHOLDERS' FUNDS 599,317 494,169

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 & QUINN LIMITED (REGISTERED NUMBER: 03833402)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2025


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 Board of Directors and authorised for issue on 11 August 2025 and were signed on its behalf by:




D Morgan - Director



G Quinn - Director


MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

1. STATUTORY INFORMATION

Morgan & Quinn 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 or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

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.
Freehold property - in accordance with the property
Improvements to property - 15% on reducing balance and 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Land and buildings held and used in the company's own activities are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Depreciation on revalued buildings is charged to profit or loss so as to write off their value, less any residual value, over their estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2025

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 20 (2024 - 24 ) .

MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2025

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 May 2024
and 30 April 2025 852,050 14,362 866,412
AMORTISATION
At 1 May 2024 852,050 13,856 865,906
Amortisation for year - 506 506
At 30 April 2025 852,050 14,362 866,412
NET BOOK VALUE
At 30 April 2025 - - -
At 30 April 2024 - 506 506

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 May 2024 542,738 - 84,631
Additions - 25,035 -
Disposals (42,738 ) - -
At 30 April 2025 500,000 25,035 84,631
DEPRECIATION
At 1 May 2024 12,486 - 70,028
Charge for year 252 10,787 2,920
Eliminated on disposal (12,738 ) - -
At 30 April 2025 - 10,787 72,948
NET BOOK VALUE
At 30 April 2025 500,000 14,248 11,683
At 30 April 2024 530,252 - 14,603

MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2025

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 May 2024 28,910 169,175 19,785 845,239
Additions - 37,745 - 62,780
Disposals - (23,950 ) - (66,688 )
At 30 April 2025 28,910 182,970 19,785 841,331
DEPRECIATION
At 1 May 2024 15,816 111,143 19,180 228,653
Charge for year 2,539 17,687 378 34,563
Eliminated on disposal - (20,842 ) - (33,580 )
At 30 April 2025 18,355 107,988 19,558 229,636
NET BOOK VALUE
At 30 April 2025 10,555 74,982 227 611,695
At 30 April 2024 13,094 58,032 605 616,586

Cost or valuation at 30 April 2025 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2025 500,000 - -
Cost - 25,035 84,631
500,000 25,035 84,631

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2025 - - - 500,000
Cost 28,910 182,970 19,785 341,331
28,910 182,970 19,785 841,331

Freehold property has been revalued in 2024 and is stated its fair value given by an independent valuation of the properties. There has been no material change in the value of the freehold property since the valuation. If freehold property were included in the balance sheet on a historical cost basis, then the carrying amount would be £257,892 (2024: £257,892), being its residual value.

MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2025

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
Additions 19,750
Reclassification/transfer 86,744
At 30 April 2025 106,494
DEPRECIATION
Charge for year 13,019
Reclassification/transfer 46,137
At 30 April 2025 59,156
NET BOOK VALUE
At 30 April 2025 47,338

6. STOCKS
2025 2024
£    £   
Stocks 238,979 234,103

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 204,317 227,073
Other debtors 154,560 183,633
Directors' current accounts 805 -
Tax - 17,628
Prepayments and accrued income 473 1,501
360,155 429,835

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts (see note 10) 48,109 44,331
Hire purchase contracts (see note 11) 15,540 19,072
Trade creditors 259,560 220,304
Taxation and social security 118,283 56,758
Other creditors 169,892 195,405
611,384 535,870

The bank loan and overdraft are secured by fixed and floating charges over all the properties and assets. Hire purchase liabilities are secured on the related asset financed.

MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2025

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans (see note 10) 264,735 317,040
Hire purchase contracts (see note 11) 20,610 21,494
285,345 338,534

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 80,062 136,825

10. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year or on demand:
Bank loans 48,109 44,331

Amounts falling due between one and two years:
Bank loans - 1-2 years 42,398 47,778

Amounts falling due between two and five years:
Bank loans - 2-5 years 142,275 132,437

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 80,062 136,825

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2025 2024
£    £   
Net obligations repayable:
Within one year 15,540 19,072
Between one and five years 20,610 21,494
36,150 40,566

MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2025

11. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2025 2024
£    £   
Within one year 4,964 4,964
Between one and five years 11,769 16,733
16,733 21,697

12. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 312,844 361,371
Hire purchase contracts 36,150 40,566
348,994 401,937

Included in bank loans is an amount borrowed under the Government's Covid Bounce Back Loan Scheme. This loan is repayable by instalments with interest charged at 2.5%. The Government acts as guarantor to the lender for this loan.

The remaining balance in bank loans is also repayable by instalments with interest being charged. The loan is secured against the assets of the company including the property held.

The hire purchases are repayable by instalments with interest being charged and are secured against the assets to which they relate.

13. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 85,794 46,196

Deferred
tax
£   
Balance at 1 May 2024 46,196
Provided during year 39,598
Balance at 30 April 2025 85,794

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
20 Ordinary £1 20 20

MORGAN & QUINN LIMITED (REGISTERED NUMBER: 03833402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2025

15. RESERVES
Revaluation
reserve
£   
At 1 May 2024 139,497
Property revaluation 42,084

At 30 April 2025 181,581

16. RELATED PARTY DISCLOSURES

D&G Properties (Yorkshire) Ltd is a company owned jointly by the directors. The balance owed from D&G Properties (Yorkshire) Ltd at the year end was £154,560 (2024: £183,633).