Registered number 07450142
## Morgans Playgroup
## Report and Unaudited Accounts
30 November 2022
## **Morgans Playgroup Report and accounts Contents**
||**Page**|
|---|---|
|Company information|1|
|Directors' report|2|
|Accountants' report|3|
|Profit and loss account|4|
|Balance sheet|5|
|Statement of changes in equity|6|
|Notes to the accounts|7|
## **Morgans Playgroup Company Information**
## **Directors**
V Philpott N Morris Z A Nolan - Resigned 9 January 2023 H K Moore - Appointed 9 January 2023
## **Accountants**
Fortus East Limited 6-7 Castle Gate Castle Street Hertford Herts SG14 1HD
## **Registered office**
Morgans JMI School Morgans Road Hertford Herts SG13 8DR
**Registered number** 07450142
1
**Morgans Playgroup Registered number: 07450142 Directors' Report**
The directors present their report and accounts for the year ended 30 November 2022.
## **Principal activities**
The company's principal activity during the year continued to be a non-profit making organisation for the provision of playgroup services. The company is Limited by Guarantee and does not have a share capital.
## **Directors**
The following persons served as directors during the year:
V Philpott N Morris Z A Nolan - Resigned 9 January 2023 H K Moore - Appointed 9 January 2023
## **Small company provisions**
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 10 July 2023 and signed on its behalf.
N Morris Director
2
## **Morgans Playgroup**
## **Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Morgans Playgroup for the year ended 30 November 2022**
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Morgans Playgroup for the year ended 30 November 2022 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Morgans Playgroup, 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 Morgans Playgroup and state those matters that we have agreed to state to the Board of Directors of Morgans Playgroup, 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 Morgans Playgroup and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Morgans Playgroup has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Morgans Playgroup. You consider that Morgans Playgroup 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 Morgans Playgroup. 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.
Fortus East Limited Chartered Accountants 6-7 Castle Gate Castle Street Hertford Herts SG14 1HD
10 July 2023
3
## **Morgans Playgroup Profit and Loss Account for the year ended 30 November 2022**
|**Turnover**
Administrative expenses
Grants received
**Operating loss**
Interest receivable
**Loss before taxation**
Tax on loss
**Loss for the financial year**|**2022**
**£**
91,762
(103,514)
-
(11,752)
34
(11,718)
-
(11,718)|**2021**
**£**
65,426
(75,470)
2,877
(7,167)
4
(7,163)
668
(6,495)|
|---|---|---|
4
**Morgans Playgroup Registered number: Balance Sheet as at 30 November 2022**
07450142
|**Notes**
**Fixed assets**
Tangible assets
3
**Current assets**
Stocks
Debtors
4
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
5
**Net current assets**
**Net assets**
**Capital and reserves**
Profit and loss account
**Shareholders' funds**|**2022**
**£**
480
250
2,511
31,280
34,041
(7,709)
26,332
26,812
26,812
26,812|**2021**
**£**
1,008
250
2,877
39,246
42,373
(4,851)
37,522
38,530
38,530
38,530|
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Morris Director Approved by the board on 10 July 2023
5
## **Morgans Playgroup Statement of Changes in Equity for the year ended 30 November 2022**
|**At 1 December 2020**
Loss for the financial year
**At 30 November 2021**
**At 1 December 2021**
Loss for the financial year
**At 30 November 2022**|**Profit**
**and loss**
**account**
**£**
45,025
(6,495)
38,530
38,530
(11,718)
26,812|**Total**
**£**
45,025
(6,495)
38,530
38,530
(11,718)
26,812|
|---|---|---|
6
## **Morgans Playgroup Notes to the Accounts for the year ended 30 November 2022**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
## _**Turnover**_
Turnover represents the value of services provided to customers and funding from Hertfordshire County Council.
## _**Grants received**_
Grants received are accounted for using the accrual model and are recognised in the profit and loss in the periods in which the related costs or expenses are recognised.
## _**Tangible fixed assets**_
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment
25% straight line
## _**Stocks**_
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
## _**Debtors**_
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
## _**Creditors**_
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7
## **Morgans Playgroup Notes to the Accounts for the year ended 30 November 2022**
## _**Taxation**_
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
## _**Provisions**_
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
|**2**
**Employees**
Average number of persons employed by the company
**3**
**Tangible fixed assets**
**Cost**
At 1 December 2021
At 30 November 2022
**Depreciation**
At 1 December 2021
Charge for the year
At 30 November 2022
**Net book value**
At 30 November 2022
At 30 November 2021
**4**
**Debtors**
Trade debtors
Other debtors|**2022**
**Number**
7
**2022**
**£**
243
2,268
2,511|**2021**
**Number**
7
**Equipment**
**£**
8,069
8,069
7,061
528
7,589
480
1,008
**2021**
**£**
1,706
1,171
2,877|
|---|---|---|
8
## **Morgans Playgroup Notes to the Accounts**
**for the year ended 30 November 2022**
|**5**
**Creditors: amounts falling due within one year**
Trade creditors
Taxation and social security costs
Other creditors|**2022**
**£**
6,420
734
555
7,709|**2021**
**£**
3,491
724
636
4,851|
|---|---|---|
## **6 Going concern**
The directors have considered both the current and future effect of the Covid -19 pandemic and its impact on the company and the UK economy in general. The directors believe that despite the pandemic, existing cash resources, profit and cash generation will be sufficient to meet the company's obligations for a period of at least 12 months. The company has also taken advantage of some of the available government aid to support the business through the crisis. The directors therefore continue to adopt the going concern basis in preparing the financial statements.
## **7 Other information**
Morgans Playgroup is a private company limited by Guarantee and incorporated in England. Its registered office is:
Morgans JMI School Morgans Road Hertford Herts SG13 8DR
9
## **Morgans Playgroup Detailed profit and loss account for the year ended 30 November 2022**
_This schedule does not form part of the statutory accounts_
|**Sales**
Administrative expenses
Grants received
**Operating loss**
Interest receivable
**Loss before tax**|**2022**
**£**
91,762
(103,514)
-
(11,752)
34
(11,718)|**2021**
**£**
65,426
(75,470)
2,877
(7,167)
4
(7,163)|
|---|---|---|
10
## **Morgans Playgroup Detailed profit and loss account for the year ended 30 November 2022**
_This schedule does not form part of the statutory accounts_
|**Sales**
Sales
**Administrative expenses**
Employee costs:
Wages and salaries
Staff training and welfare
Premises costs:
Rent
General administrative expenses:
Shopping
Administration expenses
Resources
Toys
Insurance
Depreciation
Sundry expenses
Legal and professional costs:
Accountancy fees
**Other operating income**
Grants received|**2022**
**£**
91,762
84,997
978
85,975
10,432
10,432
2,151
1,289
681
523
626
528
528
6,326
781
781
103,514
-|**2021**
**£**
65,426
61,337
327
61,664
5,639
5,639
2,275
815
750
509
617
783
1,414
7,163
1,004
1,004
75,470
2,877|
|---|---|---|
11