Registration number:
Morgan Construction Wales Limited
for the
Year Ended 31 January 2026
Morgan Construction Wales Limited
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Morgan Construction Wales Limited
Company Information
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Directors |
Mr Paul John Morgan Mrs Kathryn Morgan Mr Matthew John Morgan |
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Company secretary |
Mrs Kathryn Morgan |
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Registered office |
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Accountants |
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Morgan Construction Wales Limited
Directors' Report
for the Year Ended 31 January 2026
The directors present their report and the financial statements for the year ended 31 January 2026.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is construction of domestic buildings
Statement of directors responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Morgan Construction Wales Limited
Directors' Report
for the Year Ended 31 January 2026
Fair review of the business
This narrative has been prepared by the Directors in support of the Financial Statements and provide an update from the business for the period.
The Contracting business has performed well in the period as evident from the financial results and in line with our Business Plans.
In November work commenced on site at Brynhir, Tenby for Pembrokeshire County Council following successfully steering the project through a Pre-Contract Services Agreement. This is a major scheme for Morgan Construction Wales being delivered under an NEC Contract with a programme extending until Q3 2029. Together with other secured contracts the Company can look forward to a secured pipeline of work in excess of £50M. This workload together with the core management team we have developed and working arrangements mean the Directors are very positive about the future outlook for Morgan Construction Wales.
In Q3 2024 the Company secured ISO 9001 Accreditation. This milestone reflects how far the company has grown and our commitment to raising standards across everything we do. It is visible in the quality of our housebuilding, the customer experience we provide and the care we take long after handover. Morgan Construction Wales is proud of this achievement and even prouder of the people and processes that made it possible.
Business Objectives for the year ahead include digitising our training and skills development including building a bespoke digital training platform as well as developing Customer Satisfaction arrangements to ensure continuous improvement of our services.
Approved by the
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Mr Paul John Morgan
Director
Chartered Accountants' Report to the Board of Directors
on the Preparation of the Unaudited Statutory Accounts of
Morgan Construction Wales Limited
for the Year Ended 31 January 2026
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Morgan Construction Wales Limited for the year ended 31 January 2026 as set out on pages 5 to 15 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Morgan Construction Wales Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Morgan Construction Wales Limited and state those matters that we have agreed to state to the Board of Directors of Morgan Construction Wales Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morgan Construction Wales Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Morgan Construction Wales Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Morgan Construction Wales Limited. You consider that Morgan Construction Wales Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Morgan Construction Wales Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF
Morgan Construction Wales Limited
(Registration number: 04940619)
Balance Sheet as at 31 January 2026
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31 January |
31 January |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
1,255,346 |
880,287 |
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Shareholders' funds |
1,255,446 |
880,387 |
For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Morgan Construction Wales Limited
(Registration number: 04940619)
Balance Sheet as at 31 January 2026
Approved and authorised by the
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Morgan Construction Wales Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Morgan Construction Wales Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
12.5% on cost |
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Fixtures and fittings |
25% on cost |
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Motor vehicles |
25% on cost |
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Computer equipment |
33% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Morgan Construction Wales Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Morgan Construction Wales Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Morgan Construction Wales Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 February 2025 |
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Additions |
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Disposals |
- |
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At 31 January 2026 |
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Depreciation |
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At 1 February 2025 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
( |
( |
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At 31 January 2026 |
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Carrying amount |
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At 31 January 2026 |
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At 31 January 2025 |
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Morgan Construction Wales Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
Included within the net book value of land and buildings above is £101,467 (2025 - £125,062) in respect of long leasehold land and buildings.
Morgan Construction Wales Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
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Stocks |
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31 January |
31 January |
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Work in progress |
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Other inventories |
- |
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Debtors |
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Current |
31 January |
31 January |
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Trade debtors |
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Prepayments |
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Other debtors |
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Owed by/(from) related parties |
416,903 |
335,575 |
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VAT |
37,449 |
17,311 |
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Morgan Construction Wales Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
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Creditors |
Creditors: amounts falling due within one year
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Note |
31 January |
31 January |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to related parties |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
31 January |
31 January |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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31 January |
31 January |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Morgan Construction Wales Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
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Loans and borrowings |
Non-current loans and borrowings
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31 January |
31 January |
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Bank borrowings |
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Hire purchase contracts |
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Other borrowings |
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Current loans and borrowings
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31 January |
31 January |
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Bank borrowings |
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Hire purchase contracts |
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Dividends |
Interim dividends paid
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31 January |
31 January |
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Interim dividend of £Nil per each |
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Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
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2026 |
2025 |
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Remuneration |
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