Company Registration No. 09512491 (England and Wales)
MORGAN PETTEFAR FINANCIAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
MORGAN PETTEFAR FINANCIAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
MORGAN PETTEFAR FINANCIAL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Intangible assets
3
270,000
315,000
Tangible assets
4
11,701
13,764
281,701
328,764
Current assets
Debtors
5
2,255
11,837
Investments
6
9,580
9,900
Cash at bank and in hand
6,587
6,678
18,422
28,415
Creditors: amounts falling due within one year
7
(56,203)
(43,632)
Net current liabilities
(37,781)
(15,217)
Total assets less current liabilities
243,920
313,547
Capital and reserves
Called up share capital
8
10,000
10,000
Share premium account
100,000
266,532
Profit and loss reserves
133,920
37,015
Total equity
243,920
313,547
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MORGAN PETTEFAR FINANCIAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2020
31 March 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 November 2020 and are signed on its behalf by:
P W Oddey
Director
Company Registration No. 09512491
MORGAN PETTEFAR FINANCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 3 -
1
Accounting policies
Company information
Morgan Pettefar Financial Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Fodderston Mill, Mill Road, Shouldham Thorpe, Kings Lynn, Norfolk, PE33 0EA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Going concern
The directors have considered the impact of the Covid-19 pandemic on the business and do not believe there to be any change in the going concern status of the company.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.5
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
2
2
MORGAN PETTEFAR FINANCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2019 and 31 March 2020
450,000
Amortisation and impairment
At 1 April 2019
135,000
Amortisation charged for the year
45,000
At 31 March 2020
180,000
Carrying amount
At 31 March 2020
270,000
At 31 March 2019
315,000
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2019 and 31 March 2020
13,823
8,033
21,856
Depreciation and impairment
At 1 April 2019
4,867
3,225
8,092
Depreciation charged in the year
1,341
722
2,063
At 31 March 2020
6,208
3,947
10,155
Carrying amount
At 31 March 2020
7,615
4,086
11,701
At 31 March 2019
8,956
4,808
13,764
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
700
1,065
Other debtors
1,555
10,772
2,255
11,837
MORGAN PETTEFAR FINANCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 5 -
6
Current asset investments
2020
2019
£
£
Unlisted investments
9,580
9,900
7
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
8
4,561
Taxation and social security
10,942
14,500
Other creditors
45,253
24,571
56,203
43,632
8
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary A Share of £1 each
1
1
1 Ordinary B Share of £1 each
1
1
1 Ordinary C Share of £1 each
1
1
1 Ordinary D Share of £1 each
1
1
9,996 Ordinary E Shares of £1 each
9,996
9,996
10,000
10,000