Registration number:
for the Year Ended
Morgan & Guy Properties Ltd
Contents
|
|||
|
|||
|
|||
|
|||
|
|||
|
Morgan & Guy Properties Ltd
Company Information
Directors |
|
Company secretary |
|
Registered office |
|
Accountants |
|
Morgan & Guy Properties Ltd
Directors' Report for the Year Ended 30 June 2016
The directors present their report and the unaudited financial statements for the year ended 30 June 2016.
Directors of the company
The directors who held office during the year were as follows:
Small company provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board on
.........................................
I M Morgan
Director
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Morgan & Guy Properties Ltd
for the Year Ended 30 June 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Morgan & Guy Properties Ltd for the year ended 30 June 2016 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) , we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/ .
This report is made solely to the Board of Directors of Morgan & Guy Properties Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Morgan & Guy Properties Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morgan & Guy Properties Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Morgan & Guy Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Morgan & Guy Properties Ltd. You consider that Morgan & Guy Properties Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Morgan & Guy Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
West House Accountants
Chartered Accountants
14 High Street
Tettenhall
Wolverhampton
West Midlands
WV6 8QT
6 February 2017
Morgan & Guy Properties Ltd
Profit and Loss Account for the Year Ended 30 June 2016
Note |
2016
|
2015
|
|||||||
Turnover |
|
|
|||||||
Administrative expenses |
( |
( |
|||||||
Operating profit/(loss) |
|
( |
|||||||
Other interest receivable and similar income |
|
|
|||||||
Interest payable and similar charges |
( |
( |
|||||||
Profit/(loss) on ordinary activities before taxation |
|
( |
|||||||
Tax on profit/(loss) on ordinary activities |
( |
|
|||||||
Profit/(loss) for the financial year |
|
( |
4
Morgan & Guy Properties Ltd
(Registration number: 06213768)
Balance Sheet at 30 June 2016
Note |
2016
|
2015
|
|||||||
Fixed assets |
|||||||||
Tangible fixed assets |
|
|
|||||||
Current assets |
|||||||||
Debtors |
|
|
|||||||
Cash at bank and in hand |
|
|
|||||||
|
|
||||||||
Creditors: Amounts falling due within one year |
( |
( |
|||||||
Net current liabilities |
( |
( |
|||||||
Total assets less current liabilities |
|
|
|||||||
Creditors: Amounts falling due after more than one year |
( |
( |
|||||||
Net assets |
|
|
|||||||
Capital and reserves |
|||||||||
Called up share capital |
|
|
|||||||
Profit and loss account |
|
|
|||||||
Shareholders' funds |
|
|
Approved by the Board on
......................................... |
5
Morgan & Guy Properties Ltd
Notes to the Financial Statements for the Year Ended 30 June 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Investment Property |
|
Fixtures, fittings and equipment |
|
Investment properties
Operating profit/(loss) |
Operating profit/(loss) is stated after charging:
2016
|
2015
|
|||||
Depreciation of tangible fixed assets |
|
|
Morgan & Guy Properties Ltd
Notes to the Financial Statements for the Year Ended 30 June 2016
......... continued
Taxation |
Tax on profit/(loss) on ordinary activities
2016
|
2015
|
|||||
Current tax |
||||||
Corporation tax charge/(credit) |
|
( |
||||
Adjustments in respect of previous years |
- |
|
||||
UK Corporation tax |
|
( |
Tangible fixed assets |
Investment properties
|
Fixtures and fittings
|
Total
|
|||||||
Cost or valuation |
|||||||||
At 1 July 2015 |
|
|
|
||||||
Additions |
|
- |
|
||||||
At 30 June 2016 |
|
|
|
||||||
Depreciation |
|||||||||
At 1 July 2015 |
- |
|
|
||||||
Charge for the year |
- |
|
|
||||||
At 30 June 2016 |
- |
|
|
||||||
Net book value |
|||||||||
At 30 June 2016 |
|
|
|
||||||
At 30 June 2015 |
|
|
|
Debtors |
2016
|
2015
|
|||||
Other debtors |
|
|
Morgan & Guy Properties Ltd
Notes to the Financial Statements for the Year Ended 30 June 2016
......... continued
Creditors: Amounts falling due within one year |
2016
|
2015
|
|||||
Corporation tax |
|
- |
||||
Other creditors |
|
|
||||
|
|
Creditors: Amounts falling due after more than one year |
2016
|
2015
|
|||||
Bank loans and overdrafts |
|
|
Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the company:
2016
|
2015
|
|||||
Mortgage loans |
183,277 |
186,283 |
The Mortgage loans are secured by a fixed charge over the freehold properties of the company.
Included in the creditors are the following amounts due after more than five years:
2016
|
2015
|
|||||
After more than five years not by instalments |
|
|
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
|||||||||||
No. |
£ |
No. |
£ |
|||||||||
|
|
|
|
|
||||||||
Morgan & Guy Properties Ltd
Notes to the Financial Statements for the Year Ended 30 June 2016
......... continued
Reserves |
Profit and loss account
|
Total
|
|||||
At 1 July 2015 |
11,215 |
11,215 |
||||
Profit for the year |
15,332 |
|
||||
At 30 June 2016 |
26,547 |
26,547 |
Related party transactions |
Other related party transactions |
During the year the company made the following related party transactions: |
|
|
|
Control |
The company is controlled by the directors who own 100% of the called up share capital.