Morgan Cargo Limited - Limited company - abbreviated - 11.9
Morgan Cargo Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| Abbreviated Accounts |
| for the Year Ended 28 February 2015 |
| for |
| Morgan Cargo Limited |
| Morgan Cargo Limited (Registered number: 03824884) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 28 February 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Morgan Cargo Limited |
| Company Information |
| for the Year Ended 28 February 2015 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Morgan Cargo Limited (Registered number: 03824884) |
| Abbreviated Balance Sheet |
| 28 February 2015 |
| 28/2/15 | 28/2/14 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| 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 Cargo Limited (Registered number: 03824884) |
| Abbreviated Balance Sheet - continued |
| 28 February 2015 |
| The financial statements were approved by the Board of Directors on by: |
| Morgan Cargo Limited (Registered number: 03824884) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 28 February 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents the value of freight services provided during the year, net of value added tax. |
| Tangible fixed assets |
| Computer equipment | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Plant and equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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 the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| 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 the profit and loss account in the period to which they relate. |
| Morgan Cargo Limited (Registered number: 03824884) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 28 February 2015 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 March 2014 |
| Additions |
| Disposals | ( |
) |
| At 28 February 2015 |
| DEPRECIATION |
| At 1 March 2014 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 28 February 2015 |
| NET BOOK VALUE |
| At 28 February 2015 |
| At 28 February 2014 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 28/2/15 | 28/2/14 |
| value: | £ | £ |
| Ordinary | 50p |
| 5. | ULTIMATE PARENT COMPANY |
| The company is a subsidiary of Bataleur Investments Limited, registered in Guernsey. The ultimate parent |
| company is Oak Trust (Guernsey) Limited. There is no single ultimate controlling party. |
| 6. | CHARGE OVER BANK FUNDS AND GUARANTEES |
| The company's bankers hold charges over funds held in specified bank accounts in respect of guarantees |
| provided to HM Revenue & Customs and industry agencies. The total amount held in these bank accounts at 28 |
| February 2015 was £78,921 (2014 - £35,239). |
| In addition, the company's bankers have provided guarantees in respect of separate potential liabilities to various |
| airlines, industry agencies and HM Revenue & Customs. The maximum potential liability under the guarantees |
| was £132,413 (2014 - £56,428). |