Acorah Software Products - Accounts Production 14.6.300 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 07437915 Mr Mark Milner iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07437915 2022-10-31 07437915 2023-10-31 07437915 2022-11-01 2023-10-31 07437915 frs-core:CurrentFinancialInstruments 2023-10-31 07437915 frs-core:ComputerEquipment 2023-10-31 07437915 frs-core:ComputerEquipment 2022-11-01 2023-10-31 07437915 frs-core:ComputerEquipment 2022-10-31 07437915 frs-core:PlantMachinery 2023-10-31 07437915 frs-core:PlantMachinery 2022-11-01 2023-10-31 07437915 frs-core:PlantMachinery 2022-10-31 07437915 frs-core:ShareCapital 2023-10-31 07437915 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 07437915 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07437915 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 07437915 frs-bus:SmallEntities 2022-11-01 2023-10-31 07437915 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07437915 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 07437915 frs-bus:Director1 2022-11-01 2023-10-31 07437915 frs-countries:EnglandWales 2022-11-01 2023-10-31 07437915 2021-10-31 07437915 2022-10-31 07437915 2021-11-01 2022-10-31 07437915 frs-core:CurrentFinancialInstruments 2022-10-31 07437915 frs-core:ShareCapital 2022-10-31 07437915 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 07437915
MGM Heating Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Satik Accountancy Services Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07437915
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 854 1,139
854 1,139
CURRENT ASSETS
Debtors 5 19,358 13,229
Cash at bank and in hand 7,846 19,985
27,204 33,214
Creditors: Amounts Falling Due Within One Year 6 (25,302 ) (24,798 )
NET CURRENT ASSETS (LIABILITIES) 1,902 8,416
TOTAL ASSETS LESS CURRENT LIABILITIES 2,756 9,555
NET ASSETS 2,756 9,555
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 2,656 9,455
SHAREHOLDERS' FUNDS 2,756 9,555
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Milner
Director
28/07/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
MGM Heating Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07437915 . The registered office is 95 Glentrammon Road, Orpington, Kent, BR6 6DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Computer Equipment 25% Reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 1,242 2,503 3,745
As at 31 October 2023 1,242 2,503 3,745
Depreciation
As at 1 November 2022 1,180 1,426 2,606
Provided during the period 16 269 285
As at 31 October 2023 1,196 1,695 2,891
...CONTINUED
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Net Book Value
As at 31 October 2023 46 808 854
As at 1 November 2022 62 1,077 1,139
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 19,358 13,229
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,637 7,177
Corporation tax 10,462 11,248
Other taxes and social security - 17
VAT 4,578 3,406
Net wages 175 -
Accruals and deferred income 1,450 1,450
Director's loan account 3,000 1,500
25,302 24,798
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
At the balance sheet date, the company owed £2,850 (2020: £500) to the director.

The company was controlled throughout the current year by the director, Mr Mark Milner, by virtue of his majority holding of the issued share capital of the company.
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