Morgan Fit Out Ltd - Abbreviated accounts

MORGAN FIT OUT LTD - Company Information

Morgan Fit Out Ltd
Registered number:		07820255
Directors' Report

The directors present their report and accounts for the year ended 31 October 2014.

Principal activities
The company's principal activity during the year continued to be project management of building contracts.

Directors
The following persons served as directors during the year:

	Spencer Giles

Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 25 July 2015 and signed on its behalf.





Spencer Giles
Director

Registered number

07820255

Morgan Fit Out Ltd

Unaudited Abbreviated Accounts

31 October 2014

Morgan Fit Out Ltd

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Morgan Fit Out Ltd for the year ended 31 October 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Morgan Fit Out Ltd for the year ended 31 October 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.

BettsFinance
Chartered Accountants
73 Mackie Avenue
Brighton
BN1 8RD

25 July 2015

Morgan Fit Out Ltd
Registered number:		07820255
Abbreviated Balance Sheet
as at 31 October 2014

Notes			2014			2013
£				£
Fixed assets
Tangible assets	2		594			131

Current assets
Stocks		45,952			-
Debtors		29,929			510
Cash at bank and in hand		18,853			4,541
		94,734			5,051

Creditors: amounts falling due within one year		(92,739)			(2,753)

Net current assets			1,995			2,298

Net assets			2,589			2,429

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			2,489			2,329

Shareholder's funds			2,589			2,429

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Spencer Giles
Director
Approved by the board on 25 July 2015

Morgan Fit Out Ltd
Notes to the Abbreviated Accounts
for the year ended 31 October 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			33% straight line
	Motor vehicles			25% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Tangible fixed assets					£

	Cost
	At 1 November 2013					139
	Additions					733
	At 31 October 2014					872

	Depreciation
	At 1 November 2013					8
	Charge for the year					270
	At 31 October 2014					278

	Net book value
	At 31 October 2014					594
	At 31 October 2013					131


3	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		-		100		100