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REGISTERED NUMBER: 07560529 (England and Wales)















MGMD Limited

Unaudited Financial Statements for the Year Ended 31st March 2023






MGMD Limited (Registered number: 07560529)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MGMD Limited

Company Information
for the year ended 31st March 2023







DIRECTORS: Dr M F Godfrey
C R McClellan
T H A Godfrey
Mrs K McLellan



REGISTERED OFFICE: 8, Blandfield Road,
London
SW12 8BG



REGISTERED NUMBER: 07560529 (England and Wales)



ACCOUNTANTS: The Decimal Place
8 Blandfield Road
London
SW12 8BG



BANKERS: Barclays Bank
27, Soho Square
London
W1D 3QR

MGMD Limited (Registered number: 07560529)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 680 2

CURRENT ASSETS
Debtors 5 134,023 163,009
Cash at bank 27,362 17,477
161,385 180,486
CREDITORS
Amounts falling due within one
year

6

14,928

21,443
NET CURRENT ASSETS 146,457 159,043
TOTAL ASSETS LESS
CURRENT LIABILITIES

147,137

159,045

CREDITORS
Amounts falling due after more
than one year

7

(15,681

)

(19,667

)

PROVISIONS FOR LIABILITIES 8 (129 ) -
NET ASSETS 131,327 139,378

MGMD Limited (Registered number: 07560529)

Balance Sheet - continued
31st March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 112 112
Retained earnings 9 131,215 139,266
SHAREHOLDERS' FUNDS 131,327 139,378

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

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 18th August 2023 and were signed on its behalf by:





Dr M F Godfrey - Director


MGMD Limited (Registered number: 07560529)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

MGMD 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.

Turnover
Turnover is the value of work carried- out in the accounting period.

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 cost
Computer equipment - 33% on cost

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.


MGMD Limited (Registered number: 07560529)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st April 2022 1,080 4,035 5,115
Additions 904 - 904
At 31st March 2023 1,984 4,035 6,019
DEPRECIATION
At 1st April 2022 1,079 4,034 5,113
Charge for year 226 - 226
At 31st March 2023 1,305 4,034 5,339
NET BOOK VALUE
At 31st March 2023 679 1 680
At 31st March 2022 1 1 2

MGMD Limited (Registered number: 07560529)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Trade debtors 49,973 65,485
Other debtors: s 455 tax 22,750 22,750
Directors' current accounts - 4,768
Directors' loan accounts 61,300 70,000
Called up share capital not paid - 6
134,023 163,009

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Trade creditors 1 1
Tax 9,924 15,762
Social security and other taxes 491 291
Other creditors - 3,376
Directors' current accounts 2,499 -
Accruals and deferred income 2,013 2,013
14,928 21,443

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2023 2022
£    £   
Bounce-back loan 15,681 19,667

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bounce-back loan 15,681 19,667

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 129 -

MGMD Limited (Registered number: 07560529)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
re : accelerated capital 129
allowances claim
Balance at 31st March 2023 129

9. RESERVES
Retained
earnings
£   

At 1st April 2022 139,266
Profit for the year 41,949
Dividends (50,000 )
At 31st March 2023 131,215