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REGISTERED NUMBER: 01204646 (England and Wales)















M.G.O.C. Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






M.G.O.C. Limited (Registered number: 01204646)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M.G.O.C. Limited

Company Information
for the year ended 31 December 2023







Directors: R S Bentley
R G Monk





Registered office: C/O Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 01204646 (England and Wales)





Accountants: Cooper Parry Advisory Limited
178 Buckingham Avenue
Slough
Berkshire
SL1 4RD

M.G.O.C. Limited (Registered number: 01204646)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 50,871 57,104
Investments 5 150,000 150,000
200,871 207,104

Current assets
Stocks 50,998 55,248
Debtors 6 111,951 93,011
Cash in hand 309,258 263,506
472,207 411,765
Creditors
Amounts falling due within one year 7 128,537 94,982
Net current assets 343,670 316,783
Total assets less current liabilities 544,541 523,887

Provisions for liabilities 1,834 2,126
Net assets 542,707 521,761

Capital and reserves
Called up share capital 9 100 100
Retained earnings 10 542,607 521,661
Shareholders' funds 542,707 521,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 14 August 2024 and were signed on its behalf by:





R S Bentley - Director


M.G.O.C. Limited (Registered number: 01204646)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

M.G.O.C. 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.

Going concern
The directors have identified no material uncertainties that cast significant doubt about the ability of the company to continue as a going concern. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically.

Turnover
Turnover represents memberships received and is recognised in the period in which they are received, exclusive of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over the life of the lease
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value.

Investments
Investments are recognised at cost less provision for impairment.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the profit and loss account.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

M.G.O.C. Limited (Registered number: 01204646)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. Employees and directors

The average number of employees during the year was 11 (2022 - 11 ) .

4. Tangible fixed assets
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£ £ £ £
Cost
At 1 January 2023 95,105 61,018 43,491 199,614
Additions - 466 - 466
Disposals - (6,362 ) - (6,362 )
At 31 December 2023 95,105 55,122 43,491 193,718
Depreciation
At 1 January 2023 55,954 45,742 40,814 142,510
Charge for year 1,902 3,823 669 6,394
Eliminated on disposal - (6,057 ) - (6,057 )
At 31 December 2023 57,856 43,508 41,483 142,847
Net book value
At 31 December 2023 37,249 11,614 2,008 50,871
At 31 December 2022 39,151 15,276 2,677 57,104


5. Investments
Loans
£
At 1 January 2023
and 31 December 2023 150,000

The investment represents a capital contribution made to Merreloak Limited.

M.G.O.C. Limited (Registered number: 01204646)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 43,952 13,834
Other debtors 67,999 79,177
111,951 93,011

7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 54,575 52,422
Taxation and social security 21,625 13,271
Other creditors 52,337 29,289
128,537 94,982

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 34,298 34,366
Between one and five years 114,800 114,800
In more than five years 688,800 717,500
837,898 866,666

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

10. Reserves
Retained
earnings
£

At 1 January 2023 521,661
Profit for the year 20,946
At 31 December 2023 542,607

11. Directors' advances, credits and guarantees

The company was controlled by the directors throughout the year.

During the year the company paid rent of £70,403 (2022 - £70,403) to a company controlled by a director and his brother. The amount owed by this company at the end of the year was £150,000 (2022 - £150,000) .

During the year the company made recharges of expenses of £37,466 (2022 - £29,039) to a company controlled by a director. The amount owed by this company at the end of the year was £12,179 (2022 - £12,296) .

During the year the company made recharges of expenses of £87,730 (2022 - £58,950) to a company of which a director owns shares. The amount due by this company at the end of the year was £31,613 (2022 - £25,027).