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M G FORD LIMITED

Registered Number
12051112
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

M G FORD LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Mr M G Ford

Registered Address

27 Sparks Lane
Heswall
Wirral
CH61 7XE

Registered Number

12051112 (England and Wales)
M G FORD LIMITED
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets316,754-
16,754-
Current assets
Debtors4,512,9975,000
Cash at bank and on hand5,1722
18,1695,002
Creditors amounts falling due within one year6(31,024)(4,662)
Net current assets (liabilities)(12,855)340
Total assets less current liabilities3,899340
Net assets3,899340
Capital and reserves
Called up share capital100100
Profit and loss account3,799240
Shareholders' funds3,899340
The financial statements were approved and authorised for issue by the Director on 16 January 2025, and are signed on its behalf by:
Mr M G Ford
Director
Registered Company No. 12051112
M G FORD LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Vehicles25
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Total

£
Cost or valuation
Additions22,339
At 30 June 2422,339
Depreciation and impairment
Charge for year5,585
At 30 June 245,585
Net book value
At 30 June 2416,754
At 30 June 23-
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables11,806-
Other debtors1,1915,000
Total12,9975,000
5.Debtors: amounts due after one year
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security1,5643,758
Other creditors29,460904
Total31,0244,662
7.Creditors: amounts due after one year