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Company Registration No. 11046582 (England and Wales)
MGUN1987 LTD Unaudited accounts for the year ended 30 November 2023
MGUN1987 LTD Unaudited accounts Contents
Page
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MGUN1987 LTD Company Information for the year ended 30 November 2023
Director
Mr O Gun
Company Number
11046582 (England and Wales)
Registered Office
112 Eastgate Street Gloucester GL1 1QT England
Accountants
DNG Associates 214 Baker Street Enfield London EN1 3JT
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MGUN1987 LTD Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
32,055 
37,331 
Current assets
Inventories
5,873 
6,622 
Debtors
25,000 
7,000 
Cash at bank and in hand
5,309 
5,898 
36,182 
19,520 
Creditors: amounts falling due within one year
(18,342)
(30,503)
Net current assets/(liabilities)
17,840 
(10,983)
Net assets
49,895 
26,348 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
49,795 
26,248 
Shareholders' funds
49,895 
26,348 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 August 2024 and were signed on its behalf by
Mr O Gun Director Company Registration No. 11046582
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MGUN1987 LTD Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
MGUN1987 LTD is a private company, limited by shares, registered in England and Wales, registration number 11046582. The registered office is 112 Eastgate Street, Gloucester, GL1 1QT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% - reducing line method
Fixtures & fittings
18% - reducing line method
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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MGUN1987 LTD Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
18,656 
35,280 
53,936 
Additions
- 
1,760 
1,760 
At 30 November 2023
18,656 
37,040 
55,696 
Depreciation
At 1 December 2022
5,568 
11,037 
16,605 
Charge for the year
2,356 
4,680 
7,036 
At 30 November 2023
7,924 
15,717 
23,641 
Net book value
At 30 November 2023
10,732 
21,323 
32,055 
At 30 November 2022
13,088 
24,243 
37,331 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
18,000 
- 
Amounts falling due after more than one year
Other debtors
7,000 
7,000 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,680 
3,507 
Taxes and social security
11,902 
6,627 
Loans from directors
1,320 
18,929 
Accruals
1,440 
1,440 
18,342 
30,503 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Transactions with related parties
Included within other creditors is an amount of £1,320 (2022;£18,929) due to its director. There are no terms as to interest or repayment in respect of this balance.
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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