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

REGISTERED NUMBER: 04405684 (England and Wales)

Financial Statements for the Year Ended 30 March 2020

for

Morax Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M J Sullivan

SECRETARY:

J Taylor

REGISTERED OFFICE:

116 Duke Street

Liverpool

Merseyside

L1 5JW

REGISTERED NUMBER:

04405684 (England and Wales)

ACCOUNTANTS:

Cobham Murphy Limited

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Investment property

4

10,258

10,258

CURRENT ASSETS

Debtors

5

3,405

24,000

Cash at bank

10,535

10,474

13,940

34,474

CREDITORS

Amounts falling due within one year

6

3,209

23,303

NET CURRENT ASSETS

10,731

11,171

TOTAL ASSETS LESS CURRENT LIABILITIES

20,989

21,429

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

20,988

21,428

SHAREHOLDERS' FUNDS

20,989

21,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2020 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 30 March 2021 and were signed by:

M J Sullivan - Director

1.	STATUTORY INFORMATION

Morax 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.

Despite the company being affected by Covid-19 during the year the director still feels that the going concern basis for the preparation of the financial statements is still appropriate.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover

Turnover represents the fair value of the consideration of rents received excluding value added tax. Turnover is recognised in the period it relates to.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Directors loans, trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31 March 2019

and 30 March 2020

10,258

NET BOOK VALUE

At 30 March 2020

10,258

At 30 March 2019

10,258

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.20

30.3.19

£

£

Other debtors

3,405

24,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.20

30.3.19

£

£

Other creditors

3,209

23,303

7.	RELATED PARTY DISCLOSURES