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REGISTERED NUMBER: 01248506 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

M G SAFETY LIMITED

M G SAFETY LIMITED (REGISTERED NUMBER: 01248506)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


M G SAFETY LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: W Rae
K Rae
V J O'Brien





SECRETARY: V J O'Brien





REGISTERED OFFICE: Bingham Industrial Estate
Moorbridge Road
Bingham
Nottinghamshire
NG13 8GG





REGISTERED NUMBER: 01248506 (England and Wales)





ACCOUNTANTS: Moss & Williamson Limited
Chartered Accountants
3 Mellor Road
Cheadle Hulme
Cheadle
Cheshire
SK8 5AT

M G SAFETY LIMITED (REGISTERED NUMBER: 01248506)

ABRIDGED BALANCE SHEET
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 842,143 853,131
842,143 853,131

CURRENT ASSETS
Stocks 204,378 288,317
Debtors 7 1,005,239 913,413
Cash at bank and in hand 521,372 478,180
1,730,989 1,679,910
CREDITORS
Amounts falling due within one year (896,326 ) (864,726 )
NET CURRENT ASSETS 834,663 815,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,676,806

1,668,315

PROVISIONS FOR LIABILITIES (10,172 ) (12,838 )
NET ASSETS 1,666,634 1,655,477

CAPITAL AND RESERVES
Called up share capital 57,095 57,095
Retained earnings 1,609,539 1,598,382
SHAREHOLDERS' FUNDS 1,666,634 1,655,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

M G SAFETY LIMITED (REGISTERED NUMBER: 01248506)

ABRIDGED BALANCE SHEET - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 January 2025 and were signed on its behalf by:





V J O'Brien - Director


M G SAFETY LIMITED (REGISTERED NUMBER: 01248506)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

M G Safety Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors have assessed the appropriateness of the going concern concept in relation to the financial statements and consider that they should be prepared on a going concern basis. This conclusion has been reached based upon the regular review and discussion of detailed management information and an assessment that the Company has access to sufficient funds to be able to meet financial liabilities and obligations as they fall due for at least twelve months from approving these financial statements.

Preparation of consolidated financial statements
The smallest group of which the company is a member and which prepares consolidated accounts is the Longworth Limited group, a company registered in England and Wales. Consolidated accounts of the group can be obtained from that company's registered office:

Longworth Limited
Leltex House
Longley Lane
Sharston
Greater Manchester
M22 4SY

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised at the point that goods are despatched.

Intangible assets - computer software
Capitalised software is amortised over a period determined by the directors in accordance with their estimate of its useful life, on an item by item basis. Additions to the existing software are amortised on the same basis. The costs of the annual updates are written off in the year of the purchase.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - Straight line over 5 years
Computer equipment - 33% on cost

M G SAFETY LIMITED (REGISTERED NUMBER: 01248506)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date or at the forward contract rate where applicable. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 33,038
AMORTISATION
At 1 May 2023
and 30 April 2024 33,038
NET BOOK VALUE

At 30 April 2024 -
At 30 April 2023 -

M G SAFETY LIMITED (REGISTERED NUMBER: 01248506)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 1,161,168
Additions 1,931
At 30 April 2024 1,163,099
DEPRECIATION
At 1 May 2023 308,037
Charge for year 12,919
At 30 April 2024 320,956
NET BOOK VALUE
At 30 April 2024 842,143
At 30 April 2023 853,131

7. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed by group undertakings 500,000 500,000

8. ULTIMATE CONTROLLING PARTY

The controlling party is W Rae.