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REGISTERED NUMBER: 06898556 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

MGS Construction Cost Consultancy Ltd

MGS Construction Cost Consultancy Ltd (Registered number: 06898556)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


MGS Construction Cost Consultancy Ltd (Registered number: 06898556)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,000 7,200
Tangible assets 5 102 204
6,102 7,404

CURRENT ASSETS
Debtors 6 13,345 -
Cash at bank 3,145 11,949
16,490 11,949
CREDITORS
Amounts falling due within one year 7 (19,665 ) (16,820 )
NET CURRENT LIABILITIES (3,175 ) (4,871 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,927 2,533

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,827 2,433
SHAREHOLDERS' FUNDS 2,927 2,533

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 director acknowledges his 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 director and authorised for issue on 18 November 2024 and were signed by:





Mr M Strett - Director


MGS Construction Cost Consultancy Ltd (Registered number: 06898556)

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

1. STATUTORY INFORMATION

MGS Construction Cost Consultancy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06898556

Registered office: 25 Tarnside Road
Orrell
Lancashire
WN5 8RN

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, net of VAT.

When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to finalisation of work completed.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MGS Construction Cost Consultancy Ltd (Registered number: 06898556)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 24,000
AMORTISATION
At 1 April 2023 16,800
Amortisation for year 1,200
At 31 March 2024 18,000
NET BOOK VALUE
At 31 March 2024 6,000
At 31 March 2023 7,200

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 3,371
DEPRECIATION
At 1 April 2023 3,167
Charge for year 102
At 31 March 2024 3,269
NET BOOK VALUE
At 31 March 2024 102
At 31 March 2023 204

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 13,345 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 18,715 14,766
Other creditors 950 2,054
19,665 16,820

MGS Construction Cost Consultancy Ltd (Registered number: 06898556)

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

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr M Strett
Balance outstanding at start of year - -
Amounts advanced 13,345 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,345 -

Loans in excess of £10,000 are charged interest at 2.5% pa.
Loans are repaid within 9 months of the year end.