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REGISTERED NUMBER: 08912988 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MGH BURNERS LTD

MGH BURNERS LTD (REGISTERED NUMBER: 08912988)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MGH BURNERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: M Harris
G Harris
M Harris (Junior)





REGISTERED OFFICE: Un9 Armstrong House
First Avenue
Finningley
Doncaster
South Yorkshire
DN9 3GA





REGISTERED NUMBER: 08912988 (England and Wales)





ACCOUNTANTS: A Wigglesworth And Company Ltd
Armstrong House
First Avenue
Finningley
Doncaster
South Yorkshire
DN9 3GA

MGH BURNERS LTD (REGISTERED NUMBER: 08912988)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 195,522 141,724
Tangible assets 5 124,307 172,028
319,829 313,752

CURRENT ASSETS
Debtors 6 42,546 37,707
Cash at bank 12,252 38,942
54,798 76,649
CREDITORS
Amounts falling due within one year 7 1,032,603 991,280
NET CURRENT LIABILITIES (977,805 ) (914,631 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(657,976

)

(600,879

)

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (657,979 ) (600,882 )
(657,976 ) (600,879 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

MGH BURNERS LTD (REGISTERED NUMBER: 08912988)

BALANCE SHEET - continued
29 FEBRUARY 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 28 November 2024 and were signed on its behalf by:





M Harris - Director


MGH BURNERS LTD (REGISTERED NUMBER: 08912988)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

MGH Burners Ltd 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.

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.

Amortisation has not been provided on the intangible assets, because they are not yet available for use.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 20% on reducing balance

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.

MGH BURNERS LTD (REGISTERED NUMBER: 08912988)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Going concern
Although the company's liabilities exceed its assets by £657,976 (2023 - £600,879), the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 March 2023 141,724
Additions 53,798
At 29 February 2024 195,522
NET BOOK VALUE
At 29 February 2024 195,522
At 28 February 2023 141,724

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2023 210,659 84,770 295,429
Additions 3,192 - 3,192
At 29 February 2024 213,851 84,770 298,621
DEPRECIATION
At 1 March 2023 100,709 22,692 123,401
Charge for year 42,594 8,319 50,913
At 29 February 2024 143,303 31,011 174,314
NET BOOK VALUE
At 29 February 2024 70,548 53,759 124,307
At 28 February 2023 109,950 62,078 172,028

MGH BURNERS LTD (REGISTERED NUMBER: 08912988)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associates 36,103 36,103
Tax 1,604 1,604
VAT 4,839 -
42,546 37,707

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 4,576
Amounts owed to associates 705,836 665,684
Other creditors 200,000 200,000
Directors' current accounts 24,766 19,020
Accrued expenses 102,001 102,000
1,032,603 991,280