REGISTERED NUMBER: 05773046 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 April 2025

for

Morgan Harper-Brown Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Harper-Brown

SECRETARY:

C Feltham

REGISTERED OFFICE:

Unit 2 39 Station Road

Worthing

West Sussex

BN11 1JY

REGISTERED NUMBER:

05773046 (England and Wales)

ACCOUNTANTS:

Ledger Sparks Limited

Airport House

Suite 43-45

Purley Way

Croydon

CR0 0XZ

Fixed assets

Tangible assets

4

20,666

27,554

Current assets

Stocks

4,848

35,287

Debtors

5

89

7,793

Cash at bank

47,167

42,612

52,104

85,692

Creditors

Amounts falling due within one year

6

(79,454

)

(84,079

)

Net current (liabilities)/assets

(27,350

)

1,613

Total assets less current liabilities

(6,684

)

29,167

Creditors

Amounts falling due after more than one year

7

(9,672

)

(13,674

)

Provisions for liabilities

9

(3,926

)

(5,235

)

Net (liabilities)/assets

(20,282

)

10,258

Capital and reserves

Called up share capital

100

100

Retained earnings

10

(20,382

)

10,158

(20,282

)

10,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2025 and were signed by:

M Harper-Brown - Director

1.	STATUTORY INFORMATION

Morgan Harper-Brown 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 (£).

The principal activities of the company were that of buying and selling second hand furniture.

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.

TURNOVER

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

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery

- 25% Reducing Balance

Computer equipment

- 25% Reducing Balance

Motor vehicle

- 25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

LEASES

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

GOING CONCERN

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 29 April 2024

and 28 April 2025

588

30,000

2,312

32,900

DEPRECIATION

At 29 April 2024

226

3,750

1,370

5,346

Charge for year

90

6,563

235

6,888

At 28 April 2025

316

10,313

1,605

12,234

NET BOOK VALUE

At 28 April 2025

272

19,687

707

20,666

At 28 April 2024

362

26,250

942

27,554

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

1,945

Other debtors

89

5,848

89

7,793

The director considers the carrying value of trade and other receivables approximate to their fair value.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 8)

4,002

4,002

Trade creditors

-

78

Taxation and social security

1,119

1,253

Other creditors

74,333

78,746

79,454

84,079

The director considers the carrying amounts of current liabilities approximate to their fair values.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 8)

9,672

13,674

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

4,002

4,002

Between one and five years

9,672

13,674

13,674

17,676

Non-cancellable

operating leases

2025

2024

£

£

Within one year

8,055

15,855

Between one and five years

-

8,055

8,055

23,910

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

3,926

5,235

Deferred

tax

£

Balance at 29 April 2024

5,235

Provided during year

(1,309

)

Balance at 28 April 2025

3,926

10.

RESERVES

PROFIT AND LOSS RESERVES

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 28 April 2025 and the period ended 28 April 2024:

2025

2024

£

£

M Harper-Brown

Balance outstanding at start of year

(77,380

)

(70,406

)

Amounts advanced

27,991

20,996

Amounts repaid

(23,522

)

(27,970

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(72,911

)

(77,380

)

12.	RELATED PARTY TRANSACTIONS

As at the balance sheet date included in other creditors were the amounts of £72,911 (2024 - £77,380) due to the director. This loan is interest free and repayable on demand.