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REGISTERED NUMBER: 04481839 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

M.A.G. Building Services Limited

M.A.G. Building Services Limited (Registered number: 04481839)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M.A.G. Building Services Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: M A Greenfield





REGISTERED OFFICE: 9 Kilton Court
Aldbrough St John
Richmond
North Yorkshire
DL11 7TX





REGISTERED NUMBER: 04481839 (England and Wales)





ACCOUNTANTS: King Hope
Chartered Accountants
34 Romanby Road
NORTHALLERTON
North Yorkshire
DL7 8NF

M.A.G. Building Services Limited (Registered number: 04481839)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 665 2

CURRENT ASSETS
Stocks - 2,400
Debtors 5 8,323 4,259
Cash at bank and in hand 10,046 8,840
18,369 15,499
CREDITORS
Amounts falling due within one year 6 (8,920 ) (8,908 )
NET CURRENT ASSETS 9,449 6,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,114

6,593

CREDITORS
Amounts falling due after more than one
year

7

(4,302

)

(6,558

)
NET ASSETS 5,812 35

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 5,810 33
SHAREHOLDERS' FUNDS 5,812 35

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.A.G. Building Services Limited (Registered number: 04481839)

Balance Sheet - continued
31 July 2023


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 27 December 2023 and were signed by:





M A Greenfield - Director


M.A.G. Building Services Limited (Registered number: 04481839)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

M.A.G. Building Services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

M.A.G. Building Services Limited (Registered number: 04481839)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 August 2022 1,319 16,518 17,837
Additions 698 - 698
At 31 July 2023 2,017 16,518 18,535
DEPRECIATION
At 1 August 2022 1,318 16,517 17,835
Charge for year 35 - 35
At 31 July 2023 1,353 16,517 17,870
NET BOOK VALUE
At 31 July 2023 664 1 665
At 31 July 2022 1 1 2

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 742
Directors' current accounts - 3,517
Prepayments and accrued income 8,323 -
8,323 4,259

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,298 2,242
Trade creditors 622 565
Corporation tax 4,558 4,470
Directors' current accounts 60 -
Accruals and deferred income 1,382 1,631
8,920 8,908

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans -amounts falling due between
one and two years

2,356

2,299
Bank loans- amounts falling due between
two and five years

1,946

4,259
4,302 6,558

M.A.G. Building Services Limited (Registered number: 04481839)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 6,600 8,800

Bank loans consist of a 'bounce back loan' which is secured by HM government.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
M A Greenfield
Balance outstanding at start of year 3,517 6,528
Amounts advanced 20,239 23,056
Amounts repaid (23,816 ) (26,067 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (60 ) 3,517

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £14,600 (2022 - £16,900) were paid to the director .

At the balance sheet date £60 was owed by the company to the director (2022: £3,517 was owed to the company by the director).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M A Greenfield.