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Registered Number: 05189493
England and Wales

 

 

 

MG FORECOURT MANAGEMENT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of MG Forecourt Management Limited for the year ended 31 July 2023.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MG Forecourt Management Limited for the year ended 31 July 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of MG Forecourt Management Limited, as a body, in accordance with the terms of our engagement letter dated 28 July 2024. Our work has been undertaken solely to prepare for your approval the accounts of MG Forecourt Management Limited and state those matters that we have agreed to state to the Board of Directors of MG Forecourt Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MG Forecourt Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MG Forecourt Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MG Forecourt Management Limited. You consider that MG Forecourt Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of MG Forecourt Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 31 July 2023.



....................................................
Jermyn & Co Accountants Limited
Unit 3, Hill Farm
Kirby Road, Kirby Bedon
Norwich
NR14 7DU
28 July 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 6,172    8,229 
6,172    8,229 
Current assets      
Debtors 72,576    33,103 
Cash at bank and in hand 62,542    62,304 
135,118    95,407 
Creditors: amount falling due within one year (55,354)   (51,135)
Net current assets 79,764    44,272 
 
Total assets less current liabilities 85,936    52,501 
Net assets 85,936    52,501 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 85,935    52,500 
Shareholders' funds 85,936    52,501 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 July 2024 and were signed by:


-------------------------------
M Gilson
Director
2
General Information
MG Forecourt Management Limited is a private company, limited by shares, registered in England and Wales, registration number 05189493, registration address 24 Knightsbridge Drive, Nuthall, Nottingham, NG16 1RD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 17 (2022 : 17).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 August 2022 18,995    1,850    20,845 
Additions    
Disposals    
At 31 July 2023 18,995    1,850    20,845 
Depreciation
At 01 August 2022 10,981    1,635    12,616 
Charge for year 2,003    54    2,057 
On disposals    
At 31 July 2023 12,984    1,689    14,673 
Net book values
Closing balance as at 31 July 2023 6,011    161    6,172 
Opening balance as at 01 August 2022 8,014    215    8,229 


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