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REGISTERED NUMBER: 06742828 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MGM BRICKWORK CONTRACTORS LIMITED

MGM BRICKWORK CONTRACTORS LIMITED (REGISTERED NUMBER: 06742828)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

MGM BRICKWORK CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: M A Spice
V Spice





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 06742828 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

MGM BRICKWORK CONTRACTORS LIMITED (REGISTERED NUMBER: 06742828)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,773 26,990

CURRENT ASSETS
Debtors 5 74,642 51,522
Cash at bank 29,818 84,878
104,460 136,400
CREDITORS
Amounts falling due within one year 6 75,214 59,769
NET CURRENT ASSETS 29,246 76,631
TOTAL ASSETS LESS CURRENT LIABILITIES 44,019 103,621

CREDITORS
Amounts falling due after more than one year 7 (35,327 ) (47,834 )

PROVISIONS FOR LIABILITIES (3,693 ) (6,748 )
NET ASSETS 4,999 49,039

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,899 48,939
SHAREHOLDERS' FUNDS 4,999 49,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MGM BRICKWORK CONTRACTORS LIMITED (REGISTERED NUMBER: 06742828)

BALANCE SHEET - continued
30 NOVEMBER 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 Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:




M A Spice - Director



V Spice - Director


MGM BRICKWORK CONTRACTORS LIMITED (REGISTERED NUMBER: 06742828)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

MGM Brickwork Contractors 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.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover
Turnover represents net invoiced sales of good, excluding value added tax and is recognised on completion of work as stages of work are completed and approved.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MGM BRICKWORK CONTRACTORS LIMITED (REGISTERED NUMBER: 06742828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 41,043 40,017 2,216 83,276
Disposals (3,995 ) (500 ) (1,445 ) (5,940 )
At 30 November 2023 37,048 39,517 771 77,336
DEPRECIATION
At 1 December 2022 34,391 19,758 2,137 56,286
Charge for year 1,631 19,759 79 21,469
Eliminated on disposal (3,868 ) - (1,445 ) (5,313 )
Charge written back - (9,879 ) - (9,879 )
At 30 November 2023 32,154 29,638 771 62,563
NET BOOK VALUE
At 30 November 2023 4,894 9,879 - 14,773
At 30 November 2022 6,652 20,259 79 26,990

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 39,517
DEPRECIATION
At 1 December 2022 9,879
Charge for year 19,759
At 30 November 2023 29,638
NET BOOK VALUE
At 30 November 2023 9,879
At 30 November 2022 29,638

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 43,899 31,195
Amounts recoverable on contract 23,577 19,867
Other debtors 6,392 -
VAT 774 460
74,642 51,522

MGM BRICKWORK CONTRACTORS LIMITED (REGISTERED NUMBER: 06742828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 10,139 10,000
Hire purchase contracts 2,382 2,251
Trade creditors 10,324 7,073
Tax 22,146 19,557
Social security and other taxes 5,343 3,069
Other creditors 403 363
Directors' current accounts 9,291 4,825
Accrued expenses 15,186 12,631
75,214 59,769

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 10,395 10,000
Bank loans - 2-5 years 4,466 15,000
Hire purchase contracts 20,466 22,834
35,327 47,834

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the directors £9,291. This loan is interest free, with no terms attached.

9. POST BALANCE SHEET EVENTS

Since the balance sheet date IDSE Ltd, one of the company's customers, has gone into administration. The outstanding amount due from this customer has been included as a bad debt in these financial statements.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MGM BRICKWORK CONTRACTORS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MGM Brickwork Contractors Limited for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of MGM Brickwork Contractors Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MGM Brickwork Contractors Limited and state those matters that we have agreed to state to the Board of Directors of MGM Brickwork Contractors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MGM Brickwork Contractors Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MGM Brickwork Contractors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MGM Brickwork Contractors Limited. You consider that MGM Brickwork Contractors 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 financial statements of MGM Brickwork Contractors 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 financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


7 August 2024