REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
M.G.B. HOLDINGS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
M.G.B. HOLDINGS LIMITED |
M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
M.G.B. HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Archer House |
Britland Estate |
Northbourne Road |
Eastbourne |
BN22 8PW |
M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Fair value reserve | 8 | 641,493 | 506,622 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
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 |
M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
M.G.B. Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced rents receivable, excluding value added tax. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. These investments are revalued to fair value through profit and loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 December 2023 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2021 | 100,000 | - | 100,000 |
Cost | 260,931 | 10,000 | 270,931 |
360,931 | 10,000 | 370,931 |
If the freehold property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 260,931 | 260,931 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1 January 2023 |
Revaluations |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Cost or valuation at 31 December 2023 is represented by: |
Shares in |
group |
undertakings |
£ |
Valuation in 2018 | 40,604 |
Valuation in 2019 | 127,459 |
Valuation in 2020 | 35,661 |
Valuation in 2021 | 174,992 |
Valuation in 2022 | 168,510 |
Valuation in 2023 | 134,871 |
682,097 |
M.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | RESERVES |
Fair |
Revaluation | value |
reserve | reserve | Totals |
£ | £ | £ |
At 1 January 2023 | 100,000 | 506,622 |
Reserve transfer | - | 134,871 | 134,871 |
At 31 December 2023 | 100,000 | 641,493 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included in debtors is a loan to Mr M G Barnes, a company director. This loan has no fixed term for repayment. |
10. | RELATED PARTY DISCLOSURES |
Rent receivable includes £61,870 (2022: £61,570) from South Coast Catering Equipment Limited and £60,099 (2022: £59,799) from South Coast Catering Equipment (Service) Limited, the subsidiary companies. |
At the balance sheet date £15,214 (2022: £15,214) was due to South Coast Catering Equipment Limited, a subsidiary company. |
At the balance sheet date £55,396 (2022: £55,396) was owed to South Coast Catering Equipment (Service) Limited, a subsidiary company. |
At the balance sheet date £300 (2022: £300) was due from Hansens Kitchen Equipment Limited, a subsidiary company. |
11. | ULTIMATE CONTROLLING PARTY |