REGISTERED NUMBER: 02459295 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2025

for

Morgan Textile Agencies Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D J Morgan

REGISTERED OFFICE:

Unit 64 Britannia Way

Britannia Enterprise Park

Lichfield

Staffordshire

WS14 9UY

REGISTERED NUMBER:

02459295 (England and Wales)

ACCOUNTANTS:

Rice & Co Limited

Chartered Accountants

14a Market Place

Uttoxeter

Staffordshire

ST14 8HP

FIXED ASSETS

Tangible assets

4

11,414

20,333

CURRENT ASSETS

Stocks

77,702

179,186

Debtors

5

50,773

81,973

Cash at bank and in hand

117,329

137,154

245,804

398,313

CREDITORS

Amounts falling due within one year

6

58,515

106,084

NET CURRENT ASSETS

187,289

292,229

TOTAL ASSETS LESS CURRENT LIABILITIES

198,703

312,562

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

198,503

312,362

SHAREHOLDERS' FUNDS

198,703

312,562

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 14th November 2025 and were signed by:

Mr D J Morgan - Director

1.	STATUTORY INFORMATION

Morgan Textile Agencies 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises the value of sales ( excluding VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when goods are delivered and hence is the point at which risk and rewards of ownership pass to the buyer. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.

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

-

25% 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Settlements in foreign currencies are translated into sterling at an average rate of exchange for the year. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2024

36,831

155,708

31,699

22,227

246,465

Disposals

(33,997

)

(7,608

)

-

(8,239

)

(49,844

)

At 31st March 2025

2,834

148,100

31,699

13,988

196,621

DEPRECIATION

At 1st April 2024

32,715

149,581

26,351

17,485

226,132

Charge for year

511

838

1,337

1,178

3,864

Eliminated on disposal

(30,982

)

(5,677

)

-

(8,130

)

(44,789

)

At 31st March 2025

2,244

144,742

27,688

10,533

185,207

NET BOOK VALUE

At 31st March 2025

590

3,358

4,011

3,455

11,414

At 31st March 2024

4,116

6,127

5,348

4,742

20,333

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

45,241

71,065

Other debtors

5,532

10,908

50,773

81,973

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

42,744

78,739

Taxation and social security

10,316

20,421

Other creditors

5,455

6,924

58,515

106,084