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REGISTERED NUMBER: 06890084 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

MGM Property Services Limited

MGM Property Services Limited (Registered number: 06890084)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MGM Property Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Mepham
Mrs F Mepham





SECRETARY: Mrs F Mepham





REGISTERED OFFICE: 18 Wren Close
Heathfield
East Sussex
TN21 8HG





REGISTERED NUMBER: 06890084 (England and Wales)





ACCOUNTANTS: NCR Accountancy Services
61 Oaklands
Westham
Pevensey
East Sussex
BN24 5AW

MGM Property Services Limited (Registered number: 06890084)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,962 21,836

CURRENT ASSETS
Cash at bank 121,156 105,330

CREDITORS
Amounts falling due within one year 5 9,950 11,908
NET CURRENT ASSETS 111,206 93,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,168

115,258

CREDITORS
Amounts falling due after more than
one year

6

-

1,667
NET ASSETS 131,168 113,591

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 131,068 113,491
131,168 113,591

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.

MGM Property Services Limited (Registered number: 06890084)

Balance Sheet - continued
31 March 2024


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 8 November 2024 and were signed on its behalf by:





M Mepham - Director


MGM Property Services Limited (Registered number: 06890084)

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

1. STATUTORY INFORMATION

MGM Property Services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

MGM Property Services Limited (Registered number: 06890084)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 35,066 13,500 665 49,231
Additions 1,450 - - 1,450
At 31 March 2024 36,516 13,500 665 50,681
DEPRECIATION
At 1 April 2023 20,269 6,855 271 27,395
Charge for year 1,624 1,661 39 3,324
At 31 March 2024 21,893 8,516 310 30,719
NET BOOK VALUE
At 31 March 2024 14,623 4,984 355 19,962
At 31 March 2023 14,797 6,645 394 21,836

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 6,996 7,986
Other creditors 2,954 3,922
9,950 11,908

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1,667