Morgan Engineering Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05517090 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

MORGAN ENGINEERING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J T Morgan

P J Purvis

Mrs V Morgan

Mrs B A Purvis

SECRETARY:

J T Morgan

REGISTERED OFFICE:

Unit 5-6

Crucible Court

Mushett Industrial Park

Coleford

Gloucestershire

GL16 8RE

REGISTERED NUMBER:

05517090 (England and Wales)

ACCOUNTANTS:

Kingscott Dix (Cheltenham) Limited

Chartered Accountants

Malvern View Business Park

Stella Way

Bishops Cleeve

Cheltenham

Gloucestershire

GL52 7DQ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

54,169

69,884

54,169

69,884

CURRENT ASSETS

Stocks

8,298

8,298

Debtors

205,545

206,708

Cash at bank

11,267

88,081

225,110

303,087

CREDITORS

Amounts falling due within one year

4

164,780

203,691

NET CURRENT ASSETS

60,330

99,396

TOTAL ASSETS LESS CURRENT LIABILITIES

114,499

169,280

CREDITORS

Amounts falling due after more than one year

4

9,147

23,183

NET ASSETS

105,352

146,097

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

105,252

145,997

SHAREHOLDERS' FUNDS

105,352

146,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 February 2016 and were signed on its behalf by:

J T Morgan - Director

P J Purvis - Director

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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

203,450

AMORTISATION

At 1 October 2014

and 30 September 2015

203,450

NET BOOK VALUE

At 30 September 2015

-

At 30 September 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

215,453

Additions

1,999

At 30 September 2015

217,452

DEPRECIATION

At 1 October 2014

145,569

Charge for year

17,714

At 30 September 2015

163,283

NET BOOK VALUE

At 30 September 2015

54,169

At 30 September 2014

69,884

4.

CREDITORS

Creditors include an amount of £ 23,217 (2014 - £ 55,647 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100