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REGISTERED NUMBER: 11985826 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 May 2023

for

MIG Joinery Ltd

MIG Joinery Ltd (Registered number: 11985826)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MIG Joinery Ltd

Company Information
for the year ended 31 May 2023







DIRECTOR: G Barnes





SECRETARY: Mrs H Barnes





REGISTERED OFFICE: Quality House
Waverledge Road
Great Harwood
Lancashire
BB6 7AE





REGISTERED NUMBER: 11985826 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

MIG Joinery Ltd (Registered number: 11985826)

Abridged Balance Sheet
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,757 2,647

CURRENT ASSETS
Debtors 24,431 46,178
Cash at bank 31,065 8,458
55,496 54,636
CREDITORS
Amounts falling due within one year 31,436 33,192
NET CURRENT ASSETS 24,060 21,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,817

24,091

CREDITORS
Amounts falling due after more than one year 5 (17,832 ) (21,282 )

PROVISIONS FOR LIABILITIES (524 ) (503 )
NET ASSETS 8,461 2,306

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 8,361 2,206
SHAREHOLDERS' FUNDS 8,461 2,306

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

MIG Joinery Ltd (Registered number: 11985826)

Abridged Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 November 2023 and were signed by:





G Barnes - Director


MIG Joinery Ltd (Registered number: 11985826)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

MIG Joinery 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.

The company provides joinery services. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably. The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.


MIG Joinery Ltd (Registered number: 11985826)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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.

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 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 5,416
Additions 869
At 31 May 2023 6,285
DEPRECIATION
At 1 June 2022 2,769
Charge for year 759
At 31 May 2023 3,528
NET BOOK VALUE
At 31 May 2023 2,757
At 31 May 2022 2,647

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31/5/23 31/5/22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 3,704 8,177

MIG Joinery Ltd (Registered number: 11985826)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/23 31/5/22
value: £    £   
100 ordinary shares 1 100 100