Company registration number 01911541 (England and Wales)
M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
COMPANY INFORMATION
Directors
Mrs M E Green
Mr M E Green
Mrs J Lyons
Secretary
Mrs M E Green
Company number
01911541
Registered office
Progress Business Centre
Brookfield Drive
Cannock
Staffordshire
WS11 0JR
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF M GREEN REALISATIONS LTD
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M Green Realisations Ltd for the period ended 30 September 2024 which comprise, the statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of M Green Realisations Ltd, as a body, in accordance with the terms of our engagement letter dated 18 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of M Green Realisations Ltd and state those matters that we have agreed to state to the board of directors of M Green Realisations Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M Green Realisations Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that M Green Realisations Ltd 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 M Green Realisations Ltd. You consider that M Green Realisations Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of M Green Realisations Ltd. 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.

Jerroms GCN Limited
11 October 2024
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
30 September 2024
31 August 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
233,775
Current assets
Stocks
-
60,218
Debtors
4
652,413
124,968
Cash at bank and in hand
398,638
472,235
1,051,051
657,421
Creditors: amounts falling due within one year
5
(68,934)
(159,150)
Net current assets
982,117
498,271
Total assets less current liabilities
982,117
732,046
Provisions for liabilities
6
-
0
(11,782)
Net assets
982,117
720,264
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
982,017
720,164
Total equity
982,117
720,264
M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 3 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 11 October 2024 and are signed on its behalf by:
Mrs M E Green
Mr M E Green
Director
Director
Mrs J Lyons
Director
Company registration number 01911541 (England and Wales)
M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information

M Green Realisations Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Progress Business Centre, Brookfield Drive, Cannock, Staffordshire, WS11 0JR.

1.1
Reporting period

This period has been extended to 30th September 2024, which covers a 13 months period. This is due to the sale of the business on 30th September 2024 and the company ceasing to trade at that date.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

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

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
0%
Plant and equipment
15% reducing balance
Computers
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Depreciation has been provided at 0% on freehold land and buildings as in the opinion of the directors, these are maintained in a continual state of sound repair, their lives are long and residual values are such that depreciation is not material. .

1.5
Stocks

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

M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
13
15
M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 6 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2023
185,671
225,462
107,391
15,795
534,319
Additions
-
0
540
1,108
-
0
1,648
Disposals
(185,671)
(226,002)
(108,499)
(15,795)
(535,967)
At 30 September 2024
-
0
-
0
-
0
-
0
-
0
Depreciation and impairment
At 1 September 2023
-
0
194,357
90,508
15,679
300,544
Depreciation charged in the period
-
0
5,068
2,847
29
7,944
Eliminated in respect of disposals
-
0
(199,425)
(93,355)
(15,708)
(308,488)
At 30 September 2024
-
0
-
0
-
0
-
0
-
0
Carrying amount
At 30 September 2024
-
0
-
0
-
0
-
0
-
0
At 31 August 2023
185,671
31,105
16,883
116
233,775
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
122,406
Other debtors
651,056
-
0
Prepayments and accrued income
1,357
2,562
652,413
124,968
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
95,147
Corporation tax
46,801
9,327
Other taxation and social security
10,955
7,544
Other creditors
-
0
19,365
Accruals and deferred income
11,178
27,767
68,934
159,150
M GREEN REALISATIONS LTD
(PREVIOUSLY KNOWN AS MAGRENKO LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 7 -
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
7
-
0
11,782
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
-
11,782
2024
Movements in the period:
£
Liability at 1 September 2023
11,782
Credit to profit or loss
(11,782)
Liability at 30 September 2024
-
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
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