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REGISTERED NUMBER: 07686096 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

MGH Business Development Limited

MGH Business Development Limited (Registered number: 07686096)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MGH Business Development Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: M G Hunt





SECRETARY:





REGISTERED OFFICE: Horley Green House
Horley Green Road
Halifax
West Yorkshire
HX3 6AS





REGISTERED NUMBER: 07686096 (England and Wales)





ACCOUNTANTS: Horley Green Chartered Accountants
Horley Green House
Horley Green Road
Claremount
Halifax
West Yorkshire
HX3 6AS

MGH Business Development Limited (Registered number: 07686096)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 538 1,085

CURRENT ASSETS
Cash at bank 57,856 39,442

CREDITORS
Amounts falling due within one year 5 16,422 12,792
NET CURRENT ASSETS 41,434 26,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,972

27,735

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 41,872 27,635
SHAREHOLDERS' FUNDS 41,972 27,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 6 September 2024 and were signed by:





M G Hunt - Director


MGH Business Development Limited (Registered number: 07686096)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

MGH Business Development 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 represents the net amount receivable for goods supplied and services provided, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixture & Fittings - 15% on reducing balance
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MGH Business Development Limited (Registered number: 07686096)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. TANGIBLE FIXED ASSETS
Fixture & Computer
Fittings Equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 343 2,077 2,420
DEPRECIATION
At 1 July 2023 238 1,097 1,335
Charge for year 16 531 547
At 30 June 2024 254 1,628 1,882
NET BOOK VALUE
At 30 June 2024 89 449 538
At 30 June 2023 105 980 1,085

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 971 607
Tax 8,160 5,237
Social Security & Other Taxes 70 -
VAT 6,237 5,750
Directors Loan Account 384 598
Accrued Expenses 600 600
16,422 12,792

6. RELATED PARTY DISCLOSURES

The company is controlled by the company director.