Company Registration No. 04805068 (England and Wales)
Morgan Valley Limited
Unaudited accounts
for the year ended 31 March 2017
Morgan Valley Limited
Unaudited accounts
Contents
Morgan Valley Limited
Company Information
for the year ended 31 March 2017
Company Number
04805068 (England and Wales)
Registered Office
C/O Waltwood Accountants, Bron Haul
Johns Terrace, Carmel
Llanelli
Dyfed
SA14 7SD
Wales
Morgan Valley Limited
Statement of financial position
as at
31 March 2017
Intangible assets
4,949
9,900
Tangible assets
4,281
1,358
Inventories
12,150
36,790
Cash at bank and in hand
1,117
6,010
Creditors: amounts falling due within one year
(31,608)
(41,465)
Net current (liabilities)/assets
(18,341)
12,060
Total assets less current liabilities
(9,111)
23,318
Creditors: amounts falling due after more than one year
(4,256)
(6,386)
Net (liabilities)/assets
(13,367)
16,932
Called up share capital
1
1
Profit and loss account
(13,368)
16,931
Shareholders' funds
(13,367)
16,932
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 December 2017.
Mr M C Honey
Director
Company Registration No. 04805068
Morgan Valley Limited
Notes to the Accounts
for the year ended 31 March 2017
Morgan Valley Limited is a private company, limited by shares, registered in England and Wales, registration number 04805068. The registered office is C/O Waltwood Accountants, Bron Haul, Johns Terrace, Carmel, Llanelli, Dyfed, SA14 7SD, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
Charge for the year
4,951
Morgan Valley Limited
Notes to the Accounts
for the year ended 31 March 2017
5
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
Charge for the year
1,427
Finished goods
12,150
36,790
8
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
2,130
1,913
Trade creditors
856
1,459
Taxes and social security
417
1,326
Loans from directors
28,205
36,767
9
Creditors: amounts falling due after more than one year
2017
2016
10
Average number of employees
During the year the average number of employees was 1 (2016: 1).