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Registered number: 9633411
MGA ENCOMPASS LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
CANTOR ATKIN
Kirkleas
Old Road
Buckland
Surrey
RH3 7DZ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 9633411
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 1,390,535 487,742
Cash at bank and in hand 282,254 237,815
1,672,789 725,557
Creditors: Amounts Falling Due Within One Year 5 (1,449,876 ) (617,285 )
NET CURRENT ASSETS (LIABILITIES) 222,913 108,272
TOTAL ASSETS LESS CURRENT LIABILITIES 222,913 108,272
Creditors: Amounts Falling Due After More Than One Year 6 (32,320 ) (37,494 )
NET ASSETS 190,593 70,778
CAPITAL AND RESERVES
Called up share capital 7 10,000 10,000
Profit and Loss Account 180,593 60,778
SHAREHOLDERS' FUNDS 190,593 70,778
For the year ending 31 December 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 Keith Julian
Director
05/02/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
MGA ENCOMPASS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 9633411 . The registered office is Kirkleas, Old Road, Buckland, Surrey, RH3 7DZ.
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 brokerage and fees received from the placement of insurance risks
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:
Motor Vehicles 25% per annum on a straight line basis
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,388,913 444,720
Prepayments and accrued income - 33,251
Other taxes and social security - 9,771
1,388,913 487,742
Due after more than one year
Other debtors (1) 1,622 -
1,622 -
1,390,535 487,742
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,398,010 612,176
Corporation tax 33,500 2,983
Other taxes and social security 11,116 -
Other creditors 1,250 -
Other creditors (3) - 126
Accruals and deferred income 6,000 -
Director's loan account - 2,000
1,449,876 617,285
Page 2
Page 3
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 16,320 21,494
Directors loan account 16,000 16,000
32,320 37,494
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10,000 10,000
8. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 9,900 8,000
9,900 8,000
Page 3