MORGANS DEVELOPMENTS LTD

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 14872389

		31 May 2025		31 May 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		7,944		-

			7,944		-
CURRENT ASSETS
Stocks	5	720,000		651,000
Debtors	6	63,127		171,960
Cash at bank and in hand		-		4,714

		783,127		827,674
Creditors: Amounts Falling Due Within One Year	7	(791,695 )		(819,969 )

NET CURRENT ASSETS (LIABILITIES)			(8,568 )		7,705

TOTAL ASSETS LESS CURRENT LIABILITIES			(624 )		7,705

NET (LIABILITIES)/ASSETS			(624 )		7,705

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			(724 )		7,605

SHAREHOLDERS' FUNDS			(624)		7,705

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr John MORGANS

Director

30/09/2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

MORGANS DEVELOPMENTS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 14872389 . The registered office is Aberystwyth Park Lodge Hotel, Parc Y Llyn, Aberystwyth, Ceredigion, SY23 3TL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% PA on diminishing values
Motor Vehicles	20% PA on diminishing values
Fixtures & Fittings	15% PA on diminishing values

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 June 2024	-	-	-
Additions	6,399	2,053	8,452

As at 31 May 2025	6,399	2,053	8,452

Depreciation
As at 1 June 2024	-	-	-
Provided during the period	301	207	508

As at 31 May 2025	301	207	508

Net Book Value
As at 31 May 2025	6,098	1,846	7,944

As at 1 June 2024	-	-	-

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MORGANS DEVELOPMENTS LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

5. Stocks

	31 May 2025	31 May 2024
	£	£
Stock & WIP	720,000	651,000

6. Debtors

	31 May 2025	31 May 2024
	£	£
Due within one year
Trade debtors	62,064	126,000
Other debtors	1,063	45,960

	63,127	171,960

7. Creditors: Amounts Falling Due Within One Year

	31 May 2025	31 May 2024
	£	£
Trade creditors	46,542	365,278
Bank loans and overdrafts	530,563	261,737
Other creditors	210,868	192,954
Taxation and social security	3,722	-

	791,695	819,969

8. Share Capital

	31 May 2025	31 May 2024
	£	£
Allotted, Called up and fully paid	100	100

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