Morlas Power Limited - Accounts to registrar (filleted) - small 18.2
Morlas Power Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 October 2020 |
| for |
| Morlas Power Limited |
| Morlas Power Limited (Registered number: 08850521) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Morlas Power Limited |
| Company Information |
| for the Year Ended 31 October 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Lake House |
| Market Hill |
| Royston |
| Hertfordshire |
| SG8 9JN |
| Morlas Power Limited (Registered number: 08850521) |
| Balance Sheet |
| 31 October 2020 |
| 31.10.20 | 31.10.19 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Share premium | 7 |
| Retained earnings | 7 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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 and authorised for issue on |
| Morlas Power Limited (Registered number: 08850521) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2020 |
| 1. | STATUTORY INFORMATION |
| Morlas Power Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors are satisfied that the company has adequate cash resources in order to pay all of its creditors as they fall due for the foreseeable future and for at least 12 months from the date of signing of these financial statements. Furthermore, the parent company, Heathpatch Limited has offered further financial support if required.. On the basis of continuing financial support from its parent company. The directors consider it is appropriate to prepare the accounts on the going concern basis despite the balance sheet reporting net liabilities of £68,685 (2019: net assets £472,937). |
| Turnover and work in progress |
| Revenue is recognised only when it is probable that the economic benefits associated with the transaction will flow to the company. When a specific act within the provision of the service is much more significant that any other acts, the recognition of revenue is postponed until the significant act is executed. If this significant act has not been reached but it is probable that the company will recover the transaction costs incurred, then the project costs are carried forward and released when the relevant income is recognised. |
| The amount of costs released against income will be by reference to the stage of completion of the project. This may be on the basis of the amount of costs relative to the income earned at the point of the significant act occurring or by reference to the proportion of costs incurred to date compared to the total estimated costs. Costs carried forward in this manner are included in work in progress. Where the outcome of a project cannot be estimated reliably and it is not probable that the costs incurred will be recovered, then the costs are expensed to the profit and loss account immediately. |
| 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. |
| Fixed asset investments |
| Investments are stated at cost less provision for any permanent diminution in value. |
| Morlas Power Limited (Registered number: 08850521) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2020 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.20 | 31.10.19 |
| £ | £ |
| Amounts owed by group undertakings |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.20 | 31.10.19 |
| £ | £ |
| Amounts owed to group undertakings |
| Accruals and deferred income |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.10.20 | 31.10.19 |
| value: | £ | £ |
| Ordinary "A" | .01 | 1 | 1,469 |
| Ordinary "B" | .01 | 1 | 3,531 |
| 2 | 5,000 |
| During the year the company entered into a capital reduction, reducing the Share Premium account to £nil and the share capital of the company to 100 £0.01 Ordinary A shares and 100 £0.01 Ordinary B Shares. |
| 7. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 November 2019 | ( |
) | 467,937 |
| Profit for the year |
| Share premium repaid | - | (595,064 | ) | (595,064 | ) |
| At 31 October 2020 | ( |
) | (68,687 | ) |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | ULTIMATE CONTROLLING PARTY |
| Heathpatch Limited is the ultimate parent undertaking of the company. The group accounts can be obtained from the Registrar of Companies www.companieshouse.gov.uk |