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REGISTERED NUMBER: 13291558 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2023

for

MGB ACCOUNTANTS (STONEHOUSE) LIMITED

MGB ACCOUNTANTS (STONEHOUSE) LIMITED (REGISTERED NUMBER: 13291558)






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


MGB ACCOUNTANTS (STONEHOUSE) LIMITED

Company Information
FOR THE YEAR ENDED 31 March 2023







DIRECTORS: P J Clarke
Mrs E L Allen





REGISTERED OFFICE: Suite 5, First Floor
The Counting House
Bonds Mill Estate
Stonehouse
Gloucestershire
GL10 3RF





REGISTERED NUMBER: 13291558 (England and Wales)





ACCOUNTANTS: MGB Accountants (Stonehouse) Limited
Suite 5, First Floor
The Counting House
Bonds Mill Estate
Stonehouse
Gloucestershire
GL10 3RF

MGB ACCOUNTANTS (STONEHOUSE) LIMITED (REGISTERED NUMBER: 13291558)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 205,762 219,033
Tangible assets 5 1,705 758
207,467 219,791

CURRENT ASSETS
Debtors 6 70,343 48,269
Cash at bank 39,624 47,064
109,967 95,333
CREDITORS
Amounts falling due within one year 7 89,319 117,186
NET CURRENT ASSETS/(LIABILITIES) 20,648 (21,853 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

228,115

197,938

CREDITORS
Amounts falling due after more than one year 8 212,819 193,324
NET ASSETS 15,296 4,614

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 15,096 4,414
15,296 4,614

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





Mrs E L Allen - Director


MGB ACCOUNTANTS (STONEHOUSE) LIMITED (REGISTERED NUMBER: 13291558)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 March 2023

1. STATUTORY INFORMATION

MGB Accountants (Stonehouse) 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2022 - 4 ) .

MGB ACCOUNTANTS (STONEHOUSE) LIMITED (REGISTERED NUMBER: 13291558)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022 284,151
Additions 77,022
At 31 March 2023 361,173
AMORTISATION
At 1 April 2022 65,118
Charge for year 90,293
At 31 March 2023 155,411
NET BOOK VALUE
At 31 March 2023 205,762
At 31 March 2022 219,033

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 1,131
Additions 2,070
Disposals (100 )
At 31 March 2023 3,101
DEPRECIATION
At 1 April 2022 373
Charge for year 1,023
At 31 March 2023 1,396
NET BOOK VALUE
At 31 March 2023 1,705
At 31 March 2022 758

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 66,993 26,029
Other debtors 3,350 22,240
70,343 48,269

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,689 627
Taxation and social security 52,528 34,513
Other creditors 24,102 82,046
89,319 117,186

MGB ACCOUNTANTS (STONEHOUSE) LIMITED (REGISTERED NUMBER: 13291558)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 212,819 193,324

9. RELATED PARTY DISCLOSURES

During the year management fees were paid to Bobster Holdings Limited, a shareholder of the business, in the amount of £39,000 (2022 : £35,750).