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Registered Number: 07714175


 

 

 


Abridged Accounts

for the year ended 31 July 2024

for

MGG SCAFFOLDING LIMITED

Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 July 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Positive Payroll Limited
31 July 2024



....................................................

Positive Payroll Limited

Suite 10 Old Marsh Farm Barns
Welsh Road
Deeside
Flintshire
24 October 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 59,053    74,768 
59,053    74,768 
Current assets      
Debtors: amounts falling due within one year 33,075    28,101 
Cash at bank and in hand 32,076    31,111 
65,151    59,212 
Creditors: amount falling due within one year (9,215)   (19,399)
Net current assets 55,936    39,813 
 
Total assets less current liabilities 114,989    114,581 
Creditors: amount falling due after more than one year (40,995)   (57,866)
Provisions for liabilities (6,970)   (14,206)
Net assets 67,024    42,509 
 

Capital and reserves
     
Called up share capital 4 3    3 
Profit and loss account 67,021    42,506 
Shareholders' funds 67,024    42,509 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 24 October 2024 and were signed on its behalf by:


-------------------------------
Ann Herberts
Director
2
General Information
MGG SCAFFOLDING LIMITED is a private company, limited by shares, registered in , registration number 07714175, registration address TREE TOPS, 8 SEAFIELD ROAD COLWYN BAY, LL29 7HB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 20 (2023 : 13).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 August 2023 166,106    202,218    3,811    372,135 
Additions 4,282      500    4,782 
Disposals   (9,180)     (9,180)
At 31 July 2024 170,388    193,038    4,311    367,737 
Depreciation
At 01 August 2023 149,897    144,037    3,433    297,367 
Charge for year 5,123    12,250    219    17,592 
On disposals   (6,275)     (6,275)
At 31 July 2024 155,020    150,012    3,652    308,684 
Net book values
Closing balance as at 31 July 2024 15,368    43,026    659    59,053 
Opening balance as at 01 August 2023 16,209    58,181    378    74,768 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
3 Class A shares of £1.00 each  
 

3