Company registration number 08548818 (England and Wales)
MORGAN CARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
MORGAN CARE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MORGAN CARE LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
225,000
250,000
Tangible assets
5
1,061,746
1,094,454
Current assets
Stocks
1,500
1,500
Debtors
95,323
71,414
Cash at bank and in hand
167,195
200,394
264,018
273,308
Creditors: amounts falling due within one year
(235,286)
(708,774)
Net current assets/(liabilities)
28,732
(435,466)
Total assets less current liabilities
1,315,478
908,988
Creditors: amounts falling due after more than one year
(407,578)
Provisions for liabilities
(35,111)
(40,708)
Deferred income
(23,180)
(37,958)
Net assets
849,609
830,322
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
849,509
830,222
Total equity
849,609
830,322
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
MORGAN CARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 August 2025 and are signed on its behalf by:
A P Morgan
H B Morgan
Director
Director
Company Registration No. 08548818
MORGAN CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information
Morgan Care Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bakewells, 102 Junction Road, Deane, Bolton, BL3 4NE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for the provision of residential care home services and is recognised when the right to consideration is earned.
1.3
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Buildings Freehold
2% on cost
Fixtures, fittings & equipment
15% reducing balance/10 years straight line/15 years straight line
Motor vehicles
25% reducing balance
Freehold land is not depreciated.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
MORGAN CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors, cash and bank balances and directors' loans, are measured at the undiscounted amounts of the cash or other consideration expected to be received.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are measured at the undiscounted amount of the cash or other consideration expected to be paid.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences, except where they arise from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
MORGAN CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.12
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
53
53
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
500,000
Amortisation and impairment
At 1 May 2024
250,000
Amortisation charged for the year
25,000
At 30 April 2025
275,000
Carrying amount
At 30 April 2025
225,000
At 30 April 2024
250,000
MORGAN CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
5
Tangible fixed assets
Total
£
Cost
At 1 May 2024
1,822,982
Additions
26,290
At 30 April 2025
1,849,272
Depreciation and impairment
At 1 May 2024
728,528
Depreciation charged in the year
58,998
At 30 April 2025
787,526
Carrying amount
At 30 April 2025
1,061,746
At 30 April 2024
1,094,454
6
Secured creditors
Bank loans amounting to £32,482 (2024 - £526,425) included in creditors falling due within one year and £407,578 (2024 - £nil) included within amounts due in greater than one year are secured by a fixed and floating charge over the company's assets.
7
Directors' transactions
Dividends totalling £270,000 (2024 - £270,000) were paid in the year in respect of shares held by the company's directors.
During the year an interest free loan was made by the company to the directors. The amount outstanding at the balance sheet date was £54,113 (2024 - £16,495). Advances and repayments during the year amounted to £183,786 (2024 - £153,313) and £146,168 (2024 - £189,008) respectively. The loan was unsecured, repayable on demand and included in current assets.