MORS Group Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 11844883

MORS Group Ltd

Filleted Unaudited Financial Statements

28 February 2022

MORS Group Ltd

Financial Statements

Year ended 28 February 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

MORS Group Ltd

Statement of Financial Position

28 February 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	1,609	2,325

Current assets

Debtors	6	2,934	–
Cash at bank and in hand		48,171	87,316
		--------	--------
		51,105	87,316

Creditors: amounts falling due within one year	7	2,518	23,003
		--------	--------
Net current assets		48,587	64,313
		--------	--------
Total assets less current liabilities		50,196	66,638

Provisions	304	441
	--------	--------
Net assets	49,892	66,197
	--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	49,890	66,195
	--------	--------
Shareholders funds	49,892	66,197
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MORS Group Ltd

Statement of Financial Position (continued)

28 February 2022

These financial statements were approved by the board of directors and authorised for issue on 24 November 2022 , and are signed on behalf of the board by:

Mr M J Gill
Director

Company registration number: 11844883

MORS Group Ltd

Notes to the Financial Statements

Year ended 28 February 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Greenmeadows, Midhurst Road, Haslemere, GU27 3LL, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with stated interest rate and receivable of payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 March 2021 and 28 February 2022	3,579
	-------
Depreciation
At 1 March 2021	1,254
Charge for the year	716
	-------
At 28 February 2022	1,970
	-------
Carrying amount
At 28 February 2022	1,609
	-------
At 28 February 2021	2,325
	-------

6. Debtors

	2022	2021
	£	£
Other debtors	2,934	–
	-------	----

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	484	629
Corporation tax	–	14,793
Social security and other taxes	–	5,881
Other creditors	2,034	1,700
	-------	--------
	2,518	23,003
	-------	--------

8. Related party transactions

At the year end, the director was owed £559 by the company (2021: director was owed £0).