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REGISTERED NUMBER: 01877882 (England and Wales)















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: M G Barnes





REGISTERED OFFICE: Archer House
Britland Estate
Northbourne Road
Eastbourne
BN22 8PW





REGISTERED NUMBER: 01877882 (England and Wales)





ACCOUNTANTS: Dominic Hill Associates Limited
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 4 360,987 361,006
Investments 5 682,097 547,226
1,043,084 908,232

CURRENT ASSETS
Debtors 6 10,599 29,042
Cash at bank 29,578 7,614
40,177 36,656
CREDITORS
Amounts falling due within one year 7 97,689 93,816
NET CURRENT LIABILITIES (57,512 ) (57,160 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

985,572

851,072

CAPITAL AND RESERVES
Called up share capital 53,375 53,375
Revaluation reserve 8 100,000 100,000
Fair value reserve 8 641,493 506,622
Retained earnings 190,704 191,075
SHAREHOLDERS' FUNDS 985,572 851,072

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.G.B. HOLDINGS LIMITED (REGISTERED NUMBER: 01877882)

BALANCE SHEET - continued
31 DECEMBER 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 28 February 2024 and were signed by:





M G Barnes - Director


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 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 25% on reducing balance

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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 360,931 10,000 370,931
DEPRECIATION
At 1 January 2023 - 9,925 9,925
Charge for year - 19 19
At 31 December 2023 - 9,944 9,944
NET BOOK VALUE
At 31 December 2023 360,931 56 360,987
At 31 December 2022 360,931 75 361,006

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 547,226
Revaluations 134,871
At 31 December 2023 682,097
NET BOOK VALUE
At 31 December 2023 682,097
At 31 December 2022 547,226

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 300 300
Other debtors 10,299 28,742
10,599 29,042

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 249 410
Amounts owed to group undertakings 70,610 70,610
Taxation and social security 25,520 21,752
Other creditors 1,310 1,044
97,689 93,816

8. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 January 2023 100,000 506,622 606,622
Reserve transfer - 134,871 134,871

At 31 December 2023 100,000 641,493 741,493

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

The ultimate controlling party is Mr M G Barnes, a director and majority shareholder.