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REGISTERED NUMBER: 08751507 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 March 2023

for

MCG Training Ltd

MCG Training Ltd (Registered number: 08751507)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MCG Training Ltd

Company Information
For The Year Ended 31 March 2023







DIRECTORS: J D Steer
D M Steer





REGISTERED OFFICE: 44 Owlsmoor Road
Sandhurst
Berkshire
GU47 0SN





REGISTERED NUMBER: 08751507 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

MCG Training Ltd (Registered number: 08751507)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,000 1,600
Tangible assets 5 568 710
1,568 2,310

CURRENT ASSETS
Stocks 903 860
Debtors 6 12,152 13,288
Cash at bank 36,030 17,820
49,085 31,968
CREDITORS
Amounts falling due within one year 7 17,580 19,584
NET CURRENT ASSETS 31,505 12,384
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,073

14,694

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 8 33,071 14,692
SHAREHOLDERS' FUNDS 33,073 14,694

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 24 October 2023 and were signed on its behalf by:



D M Steer - Director


MCG Training Ltd (Registered number: 08751507)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

MCG Training Ltd 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.

The accounts are prepared on the basis of the company continuing as a going concern, for the foreseeable future, for which reliance is placed on the continuing support of the directors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and is recognised as services are provided.

Intangible assets
Intangible assets represent licences acquired and are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is based on their estimated useful lives.

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 - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

MCG Training Ltd (Registered number: 08751507)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 4,000
AMORTISATION
At 1 April 2022 2,400
Charge for year 600
At 31 March 2023 3,000
NET BOOK VALUE
At 31 March 2023 1,000
At 31 March 2022 1,600

MCG Training Ltd (Registered number: 08751507)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 2,283 2,313 4,596
DEPRECIATION
At 1 April 2022 1,573 2,313 3,886
Charge for year 142 - 142
At 31 March 2023 1,715 2,313 4,028
NET BOOK VALUE
At 31 March 2023 568 - 568
At 31 March 2022 710 - 710

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 11,662 12,672
Other debtors - 133
Prepayments 490 483
12,152 13,288

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 483 420
Corporation tax 4,908 2,627
VAT 5,772 4,826
Other creditors 254 204
Directors' current accounts 4,613 10,137
Accrued expenses 1,550 1,370
17,580 19,584

8. RESERVES
Retained
earnings
£   

At 1 April 2022 14,692
Profit for the year 20,379
Dividends (2,000 )
At 31 March 2023 33,071