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REGISTERED NUMBER: 06795974 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

MGRS LTD

MGRS LTD (REGISTERED NUMBER: 06795974)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MGRS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr R J Coombs
S J Hoar





SECRETARIES: Mr R J Coombs
S J Hoar





REGISTERED OFFICE: Unit 2
Lancaster Road
Cressex Business Park
High Wycombe
Bucks
HP12 3PY





REGISTERED NUMBER: 06795974 (England and Wales)





ACCOUNTANTS: Richardson Jones
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN

MGRS LTD (REGISTERED NUMBER: 06795974)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 5,733 7,771

CURRENT ASSETS
Debtors 5 4,375 7,610
Cash at bank and in hand 19,509 14,840
23,884 22,450
CREDITORS
Amounts falling due within one year 6 29,422 30,056
NET CURRENT LIABILITIES (5,538 ) (7,606 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

195

165

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 95 65
SHAREHOLDERS' FUNDS 195 165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 17th September 2024 and were signed on its behalf by:




Mr R J Coombs - Director



S J Hoar - Director


MGRS LTD (REGISTERED NUMBER: 06795974)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

MGRS Ltd 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 - 20% on cost
Office equipment - 20% on cost

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£ £ £
COST
At 1st April 2023
and 31st March 2024 21,186 8,291 29,477
DEPRECIATION
At 1st April 2023 13,415 8,291 21,706
Charge for year 2,038 - 2,038
At 31st March 2024 15,453 8,291 23,744
NET BOOK VALUE
At 31st March 2024 5,733 - 5,733
At 31st March 2023 7,771 - 7,771

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors - 2,235
Other debtors 4,375 5,375
4,375 7,610

MGRS LTD (REGISTERED NUMBER: 06795974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade creditors 6,078 11,189
Tax 15,030 10,768
VAT 6,811 4,984
Other creditors - 1,524
Directors' current accounts 3 91
Accrued expenses 1,500 1,500
29,422 30,056

7. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the director Mr R Coombs and Mr S Hoar who own 100% of the issued share capital.