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Company Registration No. 9579824 (England and Wales)
M.G. ELECTRICAL AND PLUMBING LTD Unaudited accounts for the year ended 31 May 2023
M.G. ELECTRICAL AND PLUMBING LTD Unaudited accounts Contents
Page
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M.G. ELECTRICAL AND PLUMBING LTD Company Information for the year ended 31 May 2023
Directors
Mr Martin Gibbons Mrs Gemma Gibbons
Secretary
Martin Gibbons
Company Number
9579824 (England and Wales)
Registered Office
8 Tintern Close Kirkby-In-Ashfield Nottingham Nottinghamshire NG17 7RJ
Accountants
BFS Accountants Ltd The Willows Southwell Road West Mansfield Nottinghamshire NG21 0HJ
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M.G. ELECTRICAL AND PLUMBING LTD Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
57,715 
56,876 
Current assets
Debtors
141,442 
219,290 
Cash at bank and in hand
33,139 
46,563 
174,581 
265,853 
Creditors: amounts falling due within one year
(161,284)
(260,264)
Net current assets
13,297 
5,589 
Total assets less current liabilities
71,012 
62,465 
Creditors: amounts falling due after more than one year
(37,272)
(53,956)
Provisions for liabilities
Other provisions
- 
(1,250)
Net assets
33,740 
7,259 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
33,738 
7,257 
Shareholders' funds
33,740 
7,259 
For the year ending 31 May 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by
Mr Martin Gibbons Director Company Registration No. 9579824
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M.G. ELECTRICAL AND PLUMBING LTD Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
M.G. ELECTRICAL AND PLUMBING LTD is a private company, limited by shares, registered in England and Wales, registration number 9579824. The registered office is 8 Tintern Close, Kirkby-In-Ashfield, Nottingham, Nottinghamshire, NG17 7RJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2022
10,238 
79,165 
89,403 
Additions
839 
- 
839 
At 31 May 2023
11,077 
79,165 
90,242 
Depreciation
At 1 June 2022
5,926 
26,601 
32,527 
At 31 May 2023
5,926 
26,601 
32,527 
Net book value
At 31 May 2023
5,151 
52,564 
57,715 
At 31 May 2022
4,312 
52,564 
56,876 
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M.G. ELECTRICAL AND PLUMBING LTD Notes to the Accounts for the year ended 31 May 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
31,068 
4,931 
Trade debtors
94,784 
198,769 
Amounts due from group undertakings etc.
15,590 
15,590 
141,442 
219,290 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
11,000 
11,000 
Obligations under finance leases and hire purchase contracts
9,519 
9,519 
Trade creditors
12,827 
47,552 
Taxes and social security
103,901 
124,567 
Other creditors
24,037 
66,960 
Loans from directors
- 
666 
161,284 
260,264 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
17,560 
27,864 
Obligations under finance leases and hire purchase contracts
19,712 
26,092 
37,272 
53,956 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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