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Company Registration No. 07226135 (England and Wales)
MGM Corporation Limited Unaudited accounts for the year ended 30 April 2024
MGM Corporation Limited Unaudited accounts Contents
Page
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MGM Corporation Limited Company Information for the year ended 30 April 2024
Director
Milen Todorov
Company Number
07226135 (England and Wales)
Registered Office
Unit 14 Granary Court Alton Road, South Warnborough Hook Hampshire RG29 1RP England
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MGM Corporation Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,102 
5,393 
Current assets
Debtors
19,171 
- 
Cash at bank and in hand
1,687 
307 
20,858 
307 
Creditors: amounts falling due within one year
(20,601)
(4,848)
Net current assets/(liabilities)
257 
(4,541)
Net assets
6,359 
852 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
6,357 
850 
Shareholders' funds
6,359 
852 
For the year ending 30 April 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 14 January 2024 and were signed on its behalf by
Milen Todorov Director Company Registration No. 07226135
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MGM Corporation Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
MGM Corporation Limited is a private company, limited by shares, registered in England and Wales, registration number 07226135. The registered office is Unit 14, Granary Court, Alton Road, South Warnborough, Hook, Hampshire, RG29 1RP, England.
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:
Motor vehicles
18% NBV
Computer equipment
18% NBV
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
21,785 
2,336 
24,121 
Additions
- 
2,048 
2,048 
At 30 April 2024
21,785 
4,384 
26,169 
Depreciation
At 1 May 2023
17,346 
1,382 
18,728 
Charge for the year
799 
540 
1,339 
At 30 April 2024
18,145 
1,922 
20,067 
Net book value
At 30 April 2024
3,640 
2,462 
6,102 
At 30 April 2023
4,439 
954 
5,393 
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MGM Corporation Limited Notes to the Accounts for the year ended 30 April 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,992 
- 
Amounts due from group undertakings etc.
2,014 
- 
Other debtors
1,165 
- 
19,171 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
(252)
(78)
Trade creditors
31,381 
- 
Taxes and social security
1,375 
1,445 
Loans from directors
(11,903)
3,481 
20,601 
4,848 
7
Average number of employees
During the year the average number of employees was 3 (2023: 2).
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