Morkanto Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07814249 (England and Wales)

Morkanto Limited

Unaudited Financial Statements

for the Year Ended 30 June 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T Sneddon

Ms K Clark

REGISTERED OFFICE:

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

REGISTERED NUMBER:

07814249 (England and Wales)

ACCOUNTANTS:

Atkins Ferrie Chartered Accountants

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

FIXED ASSETS

Intangible assets

3

21,600

-

Tangible assets

4

604

-

22,204

-

CURRENT ASSETS

Debtors

5

2,500

33,342

Investments

6

-

11,302

Cash at bank

29,819

9,384

32,319

54,028

CREDITORS

Amounts falling due within one year

7

15,550

11,742

NET CURRENT ASSETS

16,769

42,286

TOTAL ASSETS LESS CURRENT LIABILITIES

38,973

42,286

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

38,873

42,186

38,973

42,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 on 23 March 2020 and were signed on its behalf by:

Mr T Sneddon - Director

1.	STATUTORY INFORMATION

Morkanto 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.	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 comprises of consultancy and business services and is recognised when such service has been

provided. It is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

25% on cost

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised as transaction value and subsequently

measured at their settlement value.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

24,000

At 30 June 2019

24,000

AMORTISATION

Charge for year

2,400

At 30 June 2019

2,400

NET BOOK VALUE

At 30 June 2019

21,600

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

805

At 30 June 2019

805

DEPRECIATION

Charge for year

201

At 30 June 2019

201

NET BOOK VALUE

At 30 June 2019

604

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

2,500

33,242

Other debtors

-

100

2,500

33,342

6.	CURRENT ASSET INVESTMENTS

2019

2018

£

£

Sneddonclark LLP

-

11,302

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

485

Taxation and social security

12,884

9,509

Other creditors

2,666

1,748

15,550

11,742

8.	RELATED PARTY DISCLOSURES