Company Registration No. 12128476 (England and Wales)
Morgan Latif Ltd.
Unaudited accounts
for the year ended 31 December 2024
Morgan Latif Ltd.
Unaudited accounts
Contents
Morgan Latif Ltd.
Statement of financial position
as at 31 December 2024
Tangible assets
63,727
93,402
Debtors
1,151,425
1,090,280
Cash at bank and in hand
477,408
343,737
Creditors: amounts falling due within one year
(466,443)
(510,792)
Net current assets
1,162,390
923,225
Total assets less current liabilities
1,226,117
1,016,627
Creditors: amounts falling due after more than one year
(28,788)
(39,293)
Provisions for liabilities
Deferred tax
(30,743)
(23,324)
Net assets
1,166,586
954,010
Called up share capital
100
100
Profit and loss account
1,166,486
953,910
Shareholders' funds
1,166,586
954,010
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by
O Morgan
Director
Company Registration No. 12128476
Morgan Latif Ltd.
Notes to the Accounts
for the year ended 31 December 2024
Morgan Latif Ltd. is a private company, limited by shares, registered in England and Wales, registration number 12128476. The registered office is Rear Ground Floor, 13 Grosvenor Gardens, London, SW1W 0BD, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Morgan Latif Ltd.
Notes to the Accounts
for the year ended 31 December 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
At 31 December 2024
173,273
Charge for the year
37,730
At 31 December 2024
109,546
At 31 December 2024
63,727
At 31 December 2023
93,402
Amounts falling due within one year
Trade debtors
552,334
678,779
Other debtors
599,091
411,501
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Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
8,502
6,500
Taxes and social security
288,463
167,342
Other creditors
169,478
292,636
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
28,788
39,293
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Average number of employees
During the year the average number of employees was 28 (2023: 24).