REGISTERED NUMBER: 08488984 (England and Wales)

MORGAN WRIGHT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A G Collison

Mr A J Wright

Miss M E Wright

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

08488984 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

FIXED ASSETS

Intangible assets

5

2,992

4,488

Tangible assets

6

69,749

79,084

72,741

83,572

CURRENT ASSETS

Stocks

194,397

233,858

Debtors

7

279,533

138,563

Cash at bank

119,240

98,444

593,170

470,865

CREDITORS

Amounts falling due within one year

8

268,851

140,442

NET CURRENT ASSETS

324,319

330,423

TOTAL ASSETS LESS CURRENT LIABILITIES

397,060

413,995

CREDITORS

Amounts falling due after more than one year

9

(23,496

)

(39,728

)

PROVISIONS FOR LIABILITIES

(16,561

)

(17,597

)

NET ASSETS

357,003

356,670

CAPITAL AND RESERVES

Called up share capital

10

1,210

67

Share premium

10,502

-

Retained earnings

345,291

356,603

357,003

356,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 28 November 2025 and were signed on its behalf by:

Mrs A G Collison - Director

1.	STATUTORY INFORMATION

Morgan Wright 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 (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value excluding Value Added Tax of textiles provided to customers during the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on reducing balance

Stocks

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

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

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.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 8 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2024

and 31 March 2025

10,097

AMORTISATION

At 1 April 2024

5,609

Amortisation for year

1,496

At 31 March 2025

7,105

NET BOOK VALUE

At 31 March 2025

2,992

At 31 March 2024

4,488

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

101,172

4,288

7,750

37,311

150,521

Additions

250

428

-

6,932

7,610

At 31 March 2025

101,422

4,716

7,750

44,243

158,131

DEPRECIATION

At 1 April 2024

36,445

1,507

1,940

31,545

71,437

Charge for year

11,272

482

1,452

3,739

16,945

At 31 March 2025

47,717

1,989

3,392

35,284

88,382

NET BOOK VALUE

At 31 March 2025

53,705

2,727

4,358

8,959

69,749

At 31 March 2024

64,727

2,781

5,810

5,766

79,084

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

177,317

86,297

Amounts owed by related parties

69,018

30,682

Prepayments and accrued income

33,198

21,584

279,533

138,563

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

14,607

12,981

Trade creditors

64,516

31,531

Corporation tax

20,255

18,693

Social security and other taxes

2,157

2,137

VAT

35,191

30,942

Other creditors

5,018

13,301

Directors' current accounts

54,985

15,144

Accruals and deferred income

72,122

15,713

268,851

140,442

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

23,496

39,728

10.	CALLED UP SHARE CAPITAL

Share Type

2025

2024

£

£

Ordinary £1

1,200

60

Ordinary A £1

1

1

Ordinary B £1

5

4

Ordinary C £1

1

1

Ordinary D £1

1

1

Ordinary E £1

1

-

Ordinary F £1

1

-

1,210

67

During the year ordinary share capital of £60 and ordinary E share capital of £1 was issued for cash consideration of £10,563.

11.	RELATED PARTY DISCLOSURES

At the balance sheet date 31 March 2025 there was an amount due from related parties, company under common control of £69,018 (2024:£30,681).