1 April 2023 false No description of principal activity Taxfiler 2024.6 13253331business:PrivateLimitedCompanyLtd2023-04-012024-03-31 132533312023-03-31 132533312023-04-012024-03-31 13253331business:AuditExemptWithAccountantsReport2023-04-012024-03-31 13253331business:FilletedAccounts2023-04-012024-03-31 132533312024-03-31 13253331business:Director12023-04-012024-03-31 13253331business:RegisteredOffice2023-04-012024-03-31 132533312023-03-31 13253331core:WithinOneYear2024-03-31 13253331core:WithinOneYear2023-03-31 13253331core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 13253331core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 13253331core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 13253331core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 13253331core:PreviouslyStatedAmount2024-03-31 13253331core:PreviouslyStatedAmount2023-03-31 13253331business:SmallEntities2023-04-012024-03-31 13253331countries:EnglandWales2023-04-012024-03-31 13253331core:PlantMachinery2023-04-012024-03-31 13253331core:MotorVehicles2023-04-012024-03-31 13253331core:IntangibleAssetsOtherThanGoodwill2023-03-31 13253331core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31 13253331core:IntangibleAssetsOtherThanGoodwill2024-03-31 13253331core:PlantMachinery2023-03-31 13253331core:MotorVehicles2023-03-31 13253331core:ComputerEquipment2023-03-31 13253331core:ComputerEquipment2023-04-012024-03-31 13253331core:PlantMachinery2024-03-31 13253331core:MotorVehicles2024-03-31 13253331core:ComputerEquipment2024-03-31 132533312022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 13253331 (England and Wales)
MGB Developments MK Ltd Unaudited accounts for the year ended 31 March 2024
MGB Developments MK Ltd Unaudited accounts Contents
Page
- 2 -
MGB Developments MK Ltd Company Information for the year ended 31 March 2024
Director
Mr G Rawlings
Company Number
13253331 (England and Wales)
Registered Office
Unit 4 Cross Roads Garage Little Horwood Buckinghamshire MK17 0PX
Accountants
Anthistle Craven Moreton House 31 High Street Buckingham Bucks MK18 1NU
- 3 -
MGB Developments MK Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,421 
- 
Tangible assets
31,160 
29,047 
32,581 
29,047 
Current assets
Inventories
87,300 
25,000 
Debtors
10,894 
65,084 
Cash at bank and in hand
2,221 
105 
100,415 
90,189 
Creditors: amounts falling due within one year
(54,804)
(43,078)
Net current assets
45,611 
47,111 
Total assets less current liabilities
78,192 
76,158 
Provisions for liabilities
Deferred tax
(5,921)
(5,520)
Net assets
72,271 
70,638 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
72,270 
70,637 
Shareholders' funds
72,271 
70,638 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 October 2024 and were signed on its behalf by
Mr G Rawlings Director Company Registration No. 13253331
- 4 -
MGB Developments MK Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
MGB Developments MK Ltd is a private company, limited by shares, registered in England and Wales, registration number 13253331. The registered office is Unit 4, Cross Roads Garage, Little Horwood, Buckinghamshire, MK17 0PX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2023
- 
Additions
1,895 
At 31 March 2024
1,895 
Amortisation
At 1 April 2023
- 
Charge for the year
474 
At 31 March 2024
474 
Net book value
At 31 March 2024
1,421 
- 5 -
MGB Developments MK Ltd Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
18,267 
26,000 
296 
44,563 
Additions
12,500 
- 
- 
12,500 
At 31 March 2024
30,767 
26,000 
296 
57,063 
Depreciation
At 1 April 2023
5,174 
10,250 
92 
15,516 
Charge for the year
6,398 
3,938 
51 
10,387 
At 31 March 2024
11,572 
14,188 
143 
25,903 
Net book value
At 31 March 2024
19,195 
11,812 
153 
31,160 
At 31 March 2023
13,093 
15,750 
204 
29,047 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
6,632 
- 
Trade debtors
732 
62,537 
Accrued income and prepayments
3,530 
2,547 
10,894 
65,084 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
30,853 
24,187 
Taxes and social security
14,000 
12,530 
Other creditors
- 
4,761 
Loans from directors
8,351 
- 
Accruals
1,600 
1,600 
54,804 
43,078 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
- 6 -