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REGISTERED NUMBER: 06822639 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MK CITY GROUP LTD

MK CITY GROUP LTD (REGISTERED NUMBER: 06822639)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MK CITY GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: W A Botham
F A Botham





SECRETARY:





REGISTERED OFFICE: Avant Business Centre
4B First Avenue
Bletchley
Milton Keynes
MK1 1DL





REGISTERED NUMBER: 06822639 (England and Wales)





ACCOUNTANTS: Digital Tax Matters Limited
27 St Cuthberts Street
Bedford
MK40 3JG

MK CITY GROUP LTD (REGISTERED NUMBER: 06822639)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 295,435 181,667

CURRENT ASSETS
Stocks 1,188,785 1,035,525
Debtors 5 1,527,930 1,772,902
Cash at bank 26,012 11,706
2,742,727 2,820,133
CREDITORS
Amounts falling due within one year 6 1,616,619 1,664,682
NET CURRENT ASSETS 1,126,108 1,155,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,421,543

1,337,118

CREDITORS
Amounts falling due after more than one
year

7

974,346

990,952
NET ASSETS 447,197 346,166

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 447,196 346,165
447,197 346,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

MK CITY GROUP LTD (REGISTERED NUMBER: 06822639)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 26 October 2023 and were signed on its behalf by:





W A Botham - Director


MK CITY GROUP LTD (REGISTERED NUMBER: 06822639)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

MK City Group 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

MK CITY GROUP LTD (REGISTERED NUMBER: 06822639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2022 - 31 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 280,975
Additions 177,288
At 28 February 2023 458,263
DEPRECIATION
At 1 March 2022 99,308
Charge for year 63,520
At 28 February 2023 162,828
NET BOOK VALUE
At 28 February 2023 295,435
At 28 February 2022 181,667

MK CITY GROUP LTD (REGISTERED NUMBER: 06822639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 70,006
DEPRECIATION
At 1 March 2022 50,902
Charge for year 3,820
At 28 February 2023 54,722
NET BOOK VALUE
At 28 February 2023 15,284
At 28 February 2022 19,104

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 827,894 903,256
Other debtors 700,036 869,646
1,527,930 1,772,902

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 94,366 4,427
Trade creditors 1,028,880 1,236,497
Taxation and social security 358,212 46,534
Other creditors 135,161 377,224
1,616,619 1,664,682

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 974,346 990,952