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REGISTERED NUMBER: 08314345 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th November 2022

for

M G Electrical And Property Services
(Oxford) Ltd.

M G Electrical And Property Services
(Oxford) Ltd. (Registered number: 08314345)






Contents of the Financial Statements
for the Year Ended 30th November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M G Electrical And Property Services
(Oxford) Ltd.

Company Information
for the Year Ended 30th November 2022







DIRECTOR: M C Gannon





REGISTERED OFFICE: 7 Mathews Way
Wootton
Oxford
OX13 6JX





REGISTERED NUMBER: 08314345 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

M G Electrical And Property Services
(Oxford) Ltd. (Registered number: 08314345)

Balance Sheet
30th November 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,570 4,908

CURRENT ASSETS
Stocks 73,429 73,919
Debtors 5 33,534 25,696
Investments 6 6,000 -
Cash at bank - 19,778
112,963 119,393
CREDITORS
Amounts falling due within one year 7 (90,951 ) (88,528 )
NET CURRENT ASSETS 22,012 30,865
TOTAL ASSETS LESS CURRENT LIABILITIES 25,582 35,773

CREDITORS
Amounts falling due after more than one year 8 (25,000 ) (35,000 )
NET ASSETS 582 773

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 482 673
582 773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

M G Electrical And Property Services
(Oxford) Ltd. (Registered number: 08314345)

Balance Sheet - continued
30th November 2022


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 director and authorised for issue on 23rd November 2023 and were signed by:





M C Gannon - Director


M G Electrical And Property Services
(Oxford) Ltd. (Registered number: 08314345)

Notes to the Financial Statements
for the Year Ended 30th November 2022

1. STATUTORY INFORMATION

M G Electrical And Property Services (Oxford) 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.
Plant and machinery etc - 25% on reducing balance and 25% on cost

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

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.

M G Electrical And Property Services
(Oxford) Ltd. (Registered number: 08314345)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2022

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st December 2021
and 30th November 2022 12,862
DEPRECIATION
At 1st December 2021 7,954
Charge for year 1,338
At 30th November 2022 9,292
NET BOOK VALUE
At 30th November 2022 3,570
At 30th November 2021 4,908

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 15,431 7,740
Other debtors 6,922 6,922
Directors' current accounts 9,585 10,031
Prepayments 1,596 1,003
33,534 25,696

6. CURRENT ASSET INVESTMENTS
2022 2021
£    £   
Other 6,000 -

M G Electrical And Property Services
(Oxford) Ltd. (Registered number: 08314345)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 25,505 10,000
Trade creditors 41,160 47,141
Tax 8,363 10,022
Social security and other taxes 1,419 4,053
VAT 9,164 13,412
Accrued expenses 5,340 3,900
90,951 88,528

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 2-5 years 25,000 35,000

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th November 2022 and 30th November 2021:

2022 2021
£    £   
M C Gannon
Balance outstanding at start of year 10,031 24,783
Amounts advanced 11,701 24,911
Amounts repaid (12,147 ) (39,663 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,585 10,031