Silverfin false false 30/04/2024 01/05/2023 30/04/2024 R McGrenary 05/04/2011 20 January 2025 The principal activity of the company is the provision of management consultancy services. 07591782 2024-04-30 07591782 bus:Director1 2024-04-30 07591782 2023-04-30 07591782 core:CurrentFinancialInstruments 2024-04-30 07591782 core:CurrentFinancialInstruments 2023-04-30 07591782 core:ShareCapital 2024-04-30 07591782 core:ShareCapital 2023-04-30 07591782 core:RetainedEarningsAccumulatedLosses 2024-04-30 07591782 core:RetainedEarningsAccumulatedLosses 2023-04-30 07591782 core:Vehicles 2023-04-30 07591782 core:FurnitureFittings 2023-04-30 07591782 core:ComputerEquipment 2023-04-30 07591782 core:Vehicles 2024-04-30 07591782 core:FurnitureFittings 2024-04-30 07591782 core:ComputerEquipment 2024-04-30 07591782 core:CostValuation 2023-04-30 07591782 core:DisposalsRepaymentsInvestments 2024-04-30 07591782 core:RevaluationsIncreaseDecreaseInInvestments 2024-04-30 07591782 core:CostValuation 2024-04-30 07591782 2023-05-01 2024-04-30 07591782 bus:FilletedAccounts 2023-05-01 2024-04-30 07591782 bus:SmallEntities 2023-05-01 2024-04-30 07591782 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07591782 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07591782 bus:Director1 2023-05-01 2024-04-30 07591782 core:Vehicles 2023-05-01 2024-04-30 07591782 core:FurnitureFittings 2023-05-01 2024-04-30 07591782 core:ComputerEquipment 2023-05-01 2024-04-30 07591782 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 07591782 (England and Wales)

MCG PROFESSIONALS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

MCG PROFESSIONALS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

MCG PROFESSIONALS LIMITED

BALANCE SHEET

As at 30 April 2024
MCG PROFESSIONALS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 5,543 4,378
Investments 4 126,852 111,484
132,395 115,862
Current assets
Debtors 5 0 36,003
Cash at bank and in hand 105,684 23,979
105,684 59,982
Creditors: amounts falling due within one year 6 ( 43,458) ( 77,861)
Net current assets/(liabilities) 62,226 (17,879)
Total assets less current liabilities 194,621 97,983
Net assets 194,621 97,983
Capital and reserves
Called-up share capital 100 100
Profit and loss account 194,521 97,883
Total shareholder's funds 194,621 97,983

For the financial 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.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of MCG Professionals Limited (registered number: 07591782) were approved and authorised for issue by the Director on 20 January 2025. They were signed on its behalf by:

R McGrenary
Director
MCG PROFESSIONALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
MCG PROFESSIONALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MCG Professionals Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for services net of VAT where applicable.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 May 2023 0 6,212 10,122 16,334
Additions 990 0 2,602 3,592
Disposals 0 0 ( 2,450) ( 2,450)
At 30 April 2024 990 6,212 10,274 17,476
Accumulated depreciation
At 01 May 2023 0 4,783 7,173 11,956
Charge for the financial year 181 358 1,178 1,717
Disposals 0 0 ( 1,740) ( 1,740)
At 30 April 2024 181 5,141 6,611 11,933
Net book value
At 30 April 2024 809 1,071 3,663 5,543
At 30 April 2023 0 1,429 2,949 4,378

4. Fixed asset investments

2024 2023
£ £
Other investments and loans 126,852 111,484

Listed investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 111,484 111,484
Disposals ( 2,671) ( 2,671)
Movement in fair value 18,039 18,039
At 30 April 2024 126,852 126,852
Carrying value at 30 April 2024 126,852 126,852
Carrying value at 30 April 2023 111,484 111,484

5. Debtors

2024 2023
£ £
Other debtors 0 36,003

6. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 41,139 26,566
Other creditors 2,319 51,295
43,458 77,861

7. Related party transactions

At the year end the company owed £469 to (2023 - £36,003 was owed by) the director of the company, in respect of an interest free loan which is repayable on demand.