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Registered number: 06959623

MGC Ynys Mon Limited

ACCOUNTS
FOR THE YEAR ENDED 28/02/2023

Prepared By:
M E Strom Limited
CPAA
333-335
High Street
Bangor
Gwynedd
LL57 1YA

MGC Ynys Mon Limited

ACCOUNTS
FOR THE YEAR ENDED 28/02/2023
DIRECTORS
G Annwyl
I M Jones
SECRETARY
W Bayley- Williams
REGISTERED OFFICE
Unit 1
Gaerwen Industrial Estate
Gaerwen
Anglesey
LL60 6HR
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 06959623
ACCOUNTANTS
M E Strom Limited
CPAA
333-335
High Street
Bangor
Gwynedd
LL57 1YA

MGC Ynys Mon Limited

ACCOUNTS
FOR THEYEARENDED28/02/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

MGC Ynys Mon Limited

BALANCE SHEET AT 28/02/2023
20232022
Notes££
FIXED ASSETS
Investment Assets2419,111419,111
CURRENT ASSETS
Debtors315,16529,012
Cash at bank and in hand47,487-
62,65229,012
CREDITORS: Amounts falling due within one year4171,765184,424
NET CURRENT LIABILITIES(109,113)(155,412)
TOTAL ASSETS LESS CURRENT LIABILITIES309,998263,699
CAPITAL AND RESERVES
Called up share capital61212
Profit and loss account309,986263,687
SHAREHOLDERS' FUNDS309,998263,699
For the year ending 28/02/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 19/09/2023 and signed on their behalf by
.............................
G Annwyl
Director

MGC Ynys Mon Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28/02/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1c. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.
2. FINANCIAL ASSETS
Shares in group companies
and participating interestsTotal
££
Cost
At 01/03/2022419,111419,111
At 28/02/2023419,111419,111
Amortisation
Net Book Amounts
At 28/02/2023419,111419,111
At 28/02/2022419,111419,111
The company's investment in its subsidiary companies represents the purchase of 100% of the issued share capital of M&G Windows Ynys Mon Limited, which supplies and installs windows and fittings, and 100% of the issued share capital of Cybi Building Plastics Limited, which supplies double glazing units etc.
At 28 February 2022, the aggregate of the share capital and reserves of M&G Windows Ynys Mon Limited was £201,247 (2021 £50,343), and its profit for the year then ended was £150,904 (2021 loss £62,212).
At 28 February 2022 the aggregate of the share capital and reserves of Cybi Building Plastics Limited was £389,100 (2021 £2306,500), and its profit for the year then ended was £82,600 (2021 profit £51,177).

MGC Ynys Mon Limited

3. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors15,00020,000
Other debtors129,012
Directors current account153-
15,16529,012
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax28,80827,230
VAT145145
Directors current account-192
Directors current account76422
Directors current account-2,309
Bank loans and overdrafts-11,390
Accruals525525
Amounts due to group companies142,211142,211
171,765184,424
5. EMPLOYEES
20232022
No.No.
Average number of employees--
6. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
12 Ordinary shares of £1.00 each1212
1212

MGC Ynys Mon Limited

7. CONTROLLING PARTY
The company is controlled by the directors, by virtue of their holding 100% of the company's issued share capital.
8. RELATED PARTY TRANSACTIONS
M&G Windows Ynys Mon Limited is a wholly owned subsidiary of the company. During the year, the company received management charges of £110,000 (2022 - £109,000) from M&G Windows Limited. At 28 February 2023, the balance due to M&G Windows Ynys Mon Limited was £52,950 (2022 - £74,950).
Cybi Building Plastics Limited is a wholly owned subsidiary of the company. During the year, the company received management charges of £91,250 (2022 - £102,000) from Cybi Building Plastics Limited. At 28 February 2023, the balance due to Cybi Building Plastics Limited was £113,550 (2022 - £106,550).