Silverfin false false 19/01/2024 01/12/2022 19/01/2024 M Griffiths 09/11/2012 J Griffiths 09/11/2012 Marcus Griffiths 22 February 2024 The principal activity of the Company during the financial year is security systems services. 08288146 2024-01-19 08288146 bus:Director1 2024-01-19 08288146 bus:Director2 2024-01-19 08288146 2022-11-30 08288146 core:CurrentFinancialInstruments 2024-01-19 08288146 core:CurrentFinancialInstruments 2022-11-30 08288146 core:Non-currentFinancialInstruments 2024-01-19 08288146 core:Non-currentFinancialInstruments 2022-11-30 08288146 core:ShareCapital 2024-01-19 08288146 core:ShareCapital 2022-11-30 08288146 core:RetainedEarningsAccumulatedLosses 2024-01-19 08288146 core:RetainedEarningsAccumulatedLosses 2022-11-30 08288146 core:OfficeEquipment 2022-11-30 08288146 core:OfficeEquipment 2024-01-19 08288146 core:CostValuation 2022-11-30 08288146 core:AdditionsToInvestments 2024-01-19 08288146 core:DisposalsRepaymentsInvestments 2024-01-19 08288146 core:CostValuation 2024-01-19 08288146 2022-12-01 2024-01-19 08288146 bus:FilletedAccounts 2022-12-01 2024-01-19 08288146 bus:SmallEntities 2022-12-01 2024-01-19 08288146 bus:AuditExemptWithAccountantsReport 2022-12-01 2024-01-19 08288146 bus:PrivateLimitedCompanyLtd 2022-12-01 2024-01-19 08288146 bus:Director1 2022-12-01 2024-01-19 08288146 bus:Director2 2022-12-01 2024-01-19 08288146 bus:Director3 2022-12-01 2024-01-19 08288146 core:OfficeEquipment 2022-12-01 2024-01-19 08288146 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure

Company No: 08288146 (England and Wales)

M. G. R. C. LIMITED

Unaudited Financial Statements
For the financial period from 01 December 2022 to 19 January 2024
Pages for filing with the registrar

M. G. R. C. LIMITED

Unaudited Financial Statements

For the financial period from 01 December 2022 to 19 January 2024

Contents

M. G. R. C. LIMITED

BALANCE SHEET

As at 19 January 2024
M. G. R. C. LIMITED

BALANCE SHEET (continued)

As at 19 January 2024
Note 19.01.2024 30.11.2022
£ £
Fixed assets
Tangible assets 3 0 355
Investments 4 0 11
0 366
Current assets
Debtors 5 0 150,348
Cash at bank and in hand 18,033 5,555
18,033 155,903
Creditors: amounts falling due within one year 6 ( 9,187) ( 1,542)
Net current assets 8,846 154,361
Total assets less current liabilities 8,846 154,727
Creditors: amounts falling due after more than one year ( 8,845) ( 6,692)
Net assets 1 148,035
Capital and reserves
Called-up share capital 10 10
Profit and loss account ( 9 ) 148,025
Total shareholders' funds 1 148,035

For the financial period ending 19 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of M. G. R. C. Limited (registered number: 08288146) were approved and authorised for issue by the Board of Directors on 22 February 2024. They were signed on its behalf by:

Marcus Griffiths
Director
M. G. R. C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2022 to 19 January 2024
M. G. R. C. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 December 2022 to 19 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

M. G. R. C. Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 6, Stevenson Crescent, Stevenson Crescent, Poole, BH14 9NU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2024 the directors made the decision that the Company would cease trading. The transfer was finalised in January 2024. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

The reporting period length has been extended to the 19th January 2024 due to the company ceasing trading at the end of this period.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

Period from
01.12.2022 to
19.01.2024
Year ended
30.11.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 December 2022 1,561 1,561
Disposals ( 1,561) ( 1,561)
At 19 January 2024 0 0
Accumulated depreciation
At 01 December 2022 1,206 1,206
Charge for the financial period 83 83
Disposals ( 1,289) ( 1,289)
At 19 January 2024 0 0
Net book value
At 19 January 2024 0 0
At 30 November 2022 355 355

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 December 2022 11 11
Additions 92,016 92,016
Disposals ( 92,027) ( 92,027)
At 19 January 2024 0 0
Carrying value at 19 January 2024 0 0
Carrying value at 30 November 2022 11 11

The fair value of listed investments was determined with reference to the quoted market price at the reporting date.

5. Debtors

19.01.2024 30.11.2022
£ £
Trade debtors 0 7,000
Other debtors 0 143,348
0 150,348

6. Creditors: amounts falling due within one year

19.01.2024 30.11.2022
£ £
Amounts owed to directors 7,237 102
Accruals 1,950 1,440
9,187 1,542