Morax Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04405684 (England and Wales)

Financial Statements for the Year Ended 31 March 2018

for

Morax Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M J Sullivan

SECRETARY:

J Taylor

REGISTERED OFFICE:

116 Duke Street

Liverpool

Merseyside

L1 5JW

REGISTERED NUMBER:

04405684 (England and Wales)

ACCOUNTANTS:

Cobham Murphy Limited

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Investment property

3

16,993

16,993

CURRENT ASSETS

Debtors

4

24,075

-

Cash at bank

102

23,870

24,177

23,870

CREDITORS

Amounts falling due within one year

5

26,394

26,036

NET CURRENT LIABILITIES

(2,217

)

(2,166

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,776

14,827

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

14,775

14,826

SHAREHOLDERS' FUNDS

14,776

14,827

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 December 2018 and were signed by:

M J Sullivan - Director

1.	STATUTORY INFORMATION

Morax Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Despite the company's net current liabilities position at the year end the financial statements have been prepared

on a going concern basis.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts

recognised in the financial statements.

Turnover

Turnover represents the fair value of the consideration of rents received excluding value added tax. Turnover is

recognised in the period it relates to.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Financial instruments

Directors loans, trade debtors and trade creditors are measured at the undiscounted amount of the cash or other

consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit

and loss.

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.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

and 31 March 2018

16,993

NET BOOK VALUE

At 31 March 2018

16,993

At 31 March 2017

16,993

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

24,075

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

8

-

Other creditors

26,386

26,036

26,394

26,036

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

M J Sullivan, the company director, operates a current account with the company to which transactions of a

private nature are charged, Included in other creditors as at 31st March 2018 is £20,395 (2017 £19,065) owing

to M J Sullivan.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is M J Sullivan.