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REGISTERED NUMBER: 04188604 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

FOR

MG PROJECT MANAGEMENT LIMITED

MG PROJECT MANAGEMENT LIMITED (REGISTERED NUMBER: 04188604)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MG PROJECT MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2022







DIRECTORS: J R Griffiths
Mrs A Griffiths





SECRETARY: Mrs A Griffiths





REGISTERED OFFICE: First Floor
5 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW





REGISTERED NUMBER: 04188604 (England and Wales)





ACCOUNTANTS: GKP (Ampthill) Limited
Chartered Accountants
First Floor
5 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

MG PROJECT MANAGEMENT LIMITED (REGISTERED NUMBER: 04188604)

BALANCE SHEET
30 APRIL 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,956 37,050
Investment property 5 200,000 200,000
219,956 237,050

CURRENT ASSETS
Debtors 6 152,903 151,042
Cash at bank 119,686 80,055
272,589 231,097
CREDITORS
Amounts falling due within one year 7 221,978 149,225
NET CURRENT ASSETS 50,611 81,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,567

318,922

PROVISIONS FOR LIABILITIES 8 16,040 16,040
NET ASSETS 254,527 302,882

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Revaluation reserve 9 68,383 68,383
Retained earnings 185,044 233,399
SHAREHOLDERS' FUNDS 254,527 302,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MG PROJECT MANAGEMENT LIMITED (REGISTERED NUMBER: 04188604)

BALANCE SHEET - continued
30 APRIL 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 11 August 2022 and were signed on its behalf by:





J R Griffiths - Director


MG PROJECT MANAGEMENT LIMITED (REGISTERED NUMBER: 04188604)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022


1. STATUTORY INFORMATION

MG Project Management 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MG PROJECT MANAGEMENT LIMITED (REGISTERED NUMBER: 04188604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


2. ACCOUNTING POLICIES - continued

Going concern
During the year the Company has been impacted by the COVID 19 pandemic.The Company has taken advantage of government financial support packages and continues to operate following the government guidelines. The Directors have assessed all factors and believes the Company continues to be a going concern.

Grant income
Grant income is recognised on the accruals model. Where there are no future performance related conditions, income is recognised when the grants are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2021 90,401 101,281 94,031 285,713
Disposals - (30,699 ) - (30,699 )
At 30 April 2022 90,401 70,582 94,031 255,014
DEPRECIATION
At 1 May 2021 82,344 79,117 87,202 248,663
Charge for year 2,014 3,720 2,254 7,988
Eliminated on disposal - (21,593 ) - (21,593 )
At 30 April 2022 84,358 61,244 89,456 235,058
NET BOOK VALUE
At 30 April 2022 6,043 9,338 4,575 19,956
At 30 April 2021 8,057 22,164 6,829 37,050

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2021
and 30 April 2022 200,000
NET BOOK VALUE
At 30 April 2022 200,000
At 30 April 2021 200,000

The investment property was revalued to £200,000 on a market value basis by the directors.

MG PROJECT MANAGEMENT LIMITED (REGISTERED NUMBER: 04188604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


5. INVESTMENT PROPERTY - continued

Fair value at 30 April 2022 is represented by:
£   
Valuation in 2022 200,000

If investment property had not been revalued it would have been included at the following historical cost:

2022 2021
£    £   
Cost 115,577 115,577

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 145,981 112,925
Other debtors 1,913 -
Tax - 33,146
Prepayments and accrued income 5,009 4,971
152,903 151,042

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 36,236
Trade creditors 25,650 16,258
Tax 4,711 -
Social security and other taxes - 15,912
VAT 48,232 49,871
Directors' current accounts 133,698 18,433
Accrued expenses 9,687 12,515
221,978 149,225

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 16,040 16,040

Deferred
tax
£   
Balance at 1 May 2021 16,040
Balance at 30 April 2022 16,040

MG PROJECT MANAGEMENT LIMITED (REGISTERED NUMBER: 04188604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


9. RESERVES
Revaluation
reserve
£   
At 1 May 2021
and 30 April 2022 68,383