Morgan Engineering Limited - Accounts to registrar (filleted) - small 18.2
Morgan Engineering Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
| FOR |
| MORGAN ENGINEERING LIMITED |
| MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MORGAN ENGINEERING LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 September 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Malvern View Business Park |
| Stella Way |
| Bishops Cleeve |
| Cheltenham |
| Gloucestershire |
| GL52 7DQ |
| MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090) |
| BALANCE SHEET |
| 30 September 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090) |
| BALANCE SHEET - continued |
| 30 September 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
| MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2020 |
| 1. | STATUTORY INFORMATION |
| Morgan Engineering Limited is a |
| 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 |
| Significant judgements and estimates |
| The directors are of the opinion that there are no significant judgements or estimations used in preparing the |
| financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| 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 |
| Plant and machinery | - |
| Computer equipment | - |
| 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 Profit and loss account, 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. |
| MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 October 2019 |
| and 30 September 2020 |
| AMORTISATION |
| At 1 October 2019 |
| and 30 September 2020 |
| NET BOOK VALUE |
| At 30 September 2020 |
| At 30 September 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2019 |
| and 30 September 2020 |
| DEPRECIATION |
| At 1 October 2019 |
| Charge for year |
| At 30 September 2020 |
| NET BOOK VALUE |
| At 30 September 2020 |
| At 30 September 2019 |
| MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2020 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 October 2019 |
| and 30 September 2020 |
| DEPRECIATION |
| At 1 October 2019 |
| Charge for year |
| At 30 September 2020 |
| NET BOOK VALUE |
| At 30 September 2020 |
| At 30 September 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | - | 4,065 |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 7,841 | 425 |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| MORGAN ENGINEERING LIMITED (REGISTERED NUMBER: 05517090) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2020 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 30,331 | 49,648 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | 9,748 | 8,506 |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2019 |
| Provided during year |
| Balance at 30 September 2020 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 September 2020 and |
| 30 September 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |