| REGISTERED NUMBER: |
| MORGANASH SYSTEMS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 11 FEBRUARY 2025 TO 31 MARCH 2026 |
| REGISTERED NUMBER: |
| MORGANASH SYSTEMS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 11 FEBRUARY 2025 TO 31 MARCH 2026 |
| MORGANASH SYSTEMS LIMITED (REGISTERED NUMBER: 16245015) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 11 FEBRUARY 2025 TO 31 MARCH 2026 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MORGANASH SYSTEMS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 11 FEBRUARY 2025 TO 31 MARCH 2026 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| MORGANASH SYSTEMS LIMITED (REGISTERED NUMBER: 16245015) |
| BALANCE SHEET |
| 31 MARCH 2026 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| MORGANASH SYSTEMS LIMITED (REGISTERED NUMBER: 16245015) |
| BALANCE SHEET - continued |
| 31 MARCH 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MORGANASH SYSTEMS LIMITED (REGISTERED NUMBER: 16245015) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 11 FEBRUARY 2025 TO 31 MARCH 2026 |
| 1. | STATUTORY INFORMATION |
| Morganash Systems Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| The financial statements have been prepared on a going concern basis. The directors have assessed the company's current financial position, cash flow forecasts, and available resources, taking into account known commitments and potential risks. Based on this review, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements do not include any adjustments that would result if the company were unable to continue as a going concern. |
| Turnover |
| Turnover is the amount derived from ordinary activities, and stated after trade discounts, and net of VAT. |
| 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. |
| Software development is being amortised evenly over its estimated useful life of 5 years. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Taxation |
| Taxation for the period 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 period 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. |
| MORGANASH SYSTEMS LIMITED (REGISTERED NUMBER: 16245015) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 11 FEBRUARY 2025 TO 31 MARCH 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and operating lease commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Software |
| development |
| £ |
| COST |
| Additions |
| At 31 March 2026 |
| AMORTISATION |
| Amortisation for period |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| Additions |
| At 31 March 2026 |
| DEPRECIATION |
| Charge for period |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| MORGANASH SYSTEMS LIMITED (REGISTERED NUMBER: 16245015) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 11 FEBRUARY 2025 TO 31 MARCH 2026 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts |
| Accrued expenses |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal |
| value: | £ |
| Ordinary A | £1 | 5,100 |
| Ordinary B | £1 | 4,900 |
| 10,000 |
| The following shares were allotted and fully paid for cash at par during the period: |
| 5,100 Ordinary A shares of £1 each |
| 4,900 Ordinary B shares of £1 each |
| 9. | OTHER FINANCIAL COMMITMENTS |
| The company has future operating lease commitments of £8,921. |
| MORGANASH SYSTEMS LIMITED (REGISTERED NUMBER: 16245015) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 11 FEBRUARY 2025 TO 31 MARCH 2026 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the period ended 31 March 2026: |
| £ |
| Balance outstanding at start of period |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - |
| Amounts waived | - |
| Balance outstanding at end of period |
| 11. | RELATED PARTY DISCLOSURES |
| During the year the company acquired assets of £46,200, including interest of £1,200, from MorganAsh Ltd, a company under common control. At the year end £3,850 remained payable to the administrator of MorganAsh Ltd. |
| In addition, during the year, consultancy fees were invoiced to the company by the following: |
| £12,000 was invoiced by DGOI Limited. D G Isaac, a director and shareholder of the company is also a director and shareholder in DGOI Limited. At the balance sheet date, DGOI Limited was owed £5,000 by the company. |
| £10,500 was invoiced by J Timpson Consulting, a director and shareholder of the company. At the balance sheet date, J Timpson Consulting was owed £1,300 by the company. |