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REGISTERED NUMBER: 02188581 (England and Wales)








Unaudited Financial Statements

for the Year Ended

30 April 2024

for

M. G. Welding Plant Limited

M. G. Welding Plant Limited (Registered number: 02188581)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M. G. Welding Plant Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: I M Cunnington
M J Cunnington
A Cunnington





REGISTERED OFFICE: Unit 1, Vauxhall Street
Queens Cross
Dudley
West Midlands
DY1 1TA





REGISTERED NUMBER: 02188581 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Chartered Accountants
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

M. G. Welding Plant Limited (Registered number: 02188581)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,237 10,597

CURRENT ASSETS
Stocks 61,500 73,500
Debtors 5 94,787 91,688
Cash at bank and in hand 44,934 188,633
201,221 353,821
CREDITORS
Amounts falling due within one year 6 102,750 218,372
NET CURRENT ASSETS 98,471 135,449
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,708

146,046

PROVISIONS FOR LIABILITIES 2,600 2,000
NET ASSETS 106,108 144,046

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 106,008 143,946
SHAREHOLDERS' FUNDS 106,108 144,046

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 15 August 2024 and were signed on its behalf by:





A Cunnington - Director


M. G. Welding Plant Limited (Registered number: 02188581)

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

1. STATUTORY INFORMATION

M. G. Welding Plant 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 - 33% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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.

Pension costs and other post-retirement benefits
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

M. G. Welding Plant Limited (Registered number: 02188581)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 50,322 23,557 9,825 20,802 104,506
Additions - - - 1,972 1,972
At 30 April 2024 50,322 23,557 9,825 22,774 106,478
DEPRECIATION
At 1 May 2023 47,967 22,320 9,649 13,973 93,909
Charge for year 783 185 44 1,320 2,332
At 30 April 2024 48,750 22,505 9,693 15,293 96,241
NET BOOK VALUE
At 30 April 2024 1,572 1,052 132 7,481 10,237
At 30 April 2023 2,355 1,237 176 6,829 10,597

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 86,293 84,232
Other debtors 8,494 7,456
94,787 91,688

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 31 31
Trade creditors 34,991 151,851
Amounts owed to group undertakings 332 332
Taxation and social security 46,526 38,555
Other creditors 20,870 27,603
102,750 218,372

7. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies at the year end was £947 (2023 £1,578).

8. RELATED PARTY DISCLOSURES

The balance due to the directors at the year end was £12,643 (2023 £20,509).