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REGISTERED NUMBER: 09539051 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 March 2024

for

M G F Interiors Limited

M G F Interiors Limited (Registered number: 09539051)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


M G F Interiors Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Martin Foxton
Daniel Martin Lewis





REGISTERED OFFICE: 4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ





REGISTERED NUMBER: 09539051 (England and Wales)





ACCOUNTANTS: Robert Lewis Accountants
4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ

M G F Interiors Limited (Registered number: 09539051)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 4 1,406,062 1,512,314
Cash at bank and in hand 445 247
1,406,507 1,512,561
CREDITORS
Amounts falling due within one year 5 748,269 762,706
NET CURRENT ASSETS 658,238 749,855
TOTAL ASSETS LESS CURRENT
LIABILITIES

658,238

749,855

CREDITORS
Amounts falling due after more than one
year

6

21,210

30,182
NET ASSETS 637,028 719,673

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 636,828 719,473
SHAREHOLDERS' FUNDS 637,028 719,673

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 15 October 2024 and were signed on its behalf by:




Martin Foxton - Director


M G F Interiors Limited (Registered number: 09539051)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

M G F Interiors 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

M G F Interiors Limited (Registered number: 09539051)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors and work in
progress 1,329,070 1,510,298
VAT 74,976 -
Prepayments 2,016 2,016
1,406,062 1,512,314

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 204,593 161,550
Trade creditors 365,187 54,788
Taxation and social security 62,831 374,968
Other creditors 115,658 171,400
748,269 762,706

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 21,210 30,182

7. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr Martin Foxton by virtue of a major shareholding.