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REGISTERED NUMBER: 02579793 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Mc Designers Group Limited

Mc Designers Group Limited (Registered number: 02579793)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Mc Designers Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr M Falzon
Mr C Falzon





REGISTERED OFFICE: Unit 56
Bolney Grange Business Park
Stairbridge Lane
Bolney
West Sussex
RH17 5PA





REGISTERED NUMBER: 02579793 (England and Wales)

Mc Designers Group Limited (Registered number: 02579793)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 370,378 388,680
Investments 5 1,000 4,750
371,378 393,430

CURRENT ASSETS
Stocks - 661,000
Debtors 6 766,746 610,615
Cash at bank 9,775 13,259
776,521 1,284,874
CREDITORS
Amounts falling due within one year 7 904,800 1,256,408
NET CURRENT (LIABILITIES)/ASSETS (128,279 ) 28,466
TOTAL ASSETS LESS CURRENT
LIABILITIES

243,099

421,896

CREDITORS
Amounts falling due after more than one year 8 217,093 349,758
NET ASSETS 26,006 72,138

CAPITAL AND RESERVES
Called up share capital 9 233 233
Share premium 10 12,955 12,955
Retained earnings 10 12,818 58,950
SHAREHOLDERS' FUNDS 26,006 72,138

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.

Mc Designers Group Limited (Registered number: 02579793)

Balance Sheet - continued
31 December 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 3 September 2024 and were signed on its behalf by:





Mr M Falzon - Director


Mc Designers Group Limited (Registered number: 02579793)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mc Designers Group 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Mc Designers Group Limited (Registered number: 02579793)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 31 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 584,087
Additions 5,723
At 31 December 2023 589,810
DEPRECIATION
At 1 January 2023 195,407
Charge for year 24,025
At 31 December 2023 219,432
NET BOOK VALUE
At 31 December 2023 370,378
At 31 December 2022 388,680

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 4,750
Disposals (3,750 )
At 31 December 2023 1,000
NET BOOK VALUE
At 31 December 2023 1,000
At 31 December 2022 4,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 52,414 347,387
Other debtors 714,332 263,228
766,746 610,615

Mc Designers Group Limited (Registered number: 02579793)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 5,115 -
Hire purchase contracts 3,340 10,377
Trade creditors 26,641 423,453
Taxation and social security 205,016 173,859
Other creditors 664,688 648,719
904,800 1,256,408

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 217,093 349,758

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
203 Ordinary shares £1.00 203 203
10 A Deferred non voting ordinary
shares £1.00 10 10
20 B & C Deferred non-voting
ordinary shares £1.00 10 10
223 223

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 58,950 12,955 71,905
Profit for the year 344,169 344,169
Dividends (390,301 ) (390,301 )
At 31 December 2023 12,818 12,955 25,773

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Mc Designers Group 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 Income Statement 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 Mc Designers Group Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Mc Designers Group 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 Mc Designers Group Limited and state those matters that we have agreed to state to the Board of Directors of Mc Designers Group 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 Mc Designers Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mc Designers Group 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 Mc Designers Group Limited. You consider that Mc Designers Group 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 Mc Designers Group 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.






ASM Chartered Accountants
ASM House
103a Keymer Road
Hassocks
West Sussex
BN6 8QL


Date: .............................................