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REGISTERED NUMBER: 05175665 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MIG SECURITY AND EVENTS LIMITED

MIG SECURITY AND EVENTS LIMITED (REGISTERED NUMBER: 05175665)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIG SECURITY AND EVENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Max Di-Vincenzo





REGISTERED OFFICE: Marsh Gate House
Alphin Brook Road
Marsh Barton
Exeter
EX2 8TH





REGISTERED NUMBER: 05175665 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

MIG SECURITY AND EVENTS LIMITED (REGISTERED NUMBER: 05175665)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 29,867 23,295
Investments 6 180 180
30,047 23,475

CURRENT ASSETS
Stocks 22,073 8,563
Debtors 7 704,640 1,077,769
Cash at bank and in hand 134 11,282
726,847 1,097,614
CREDITORS
Amounts falling due within one year 8 539,407 832,894
NET CURRENT ASSETS 187,440 264,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

217,487

288,195

CREDITORS
Amounts falling due after more than one year 9 (12,500 ) (22,500 )

PROVISIONS FOR LIABILITIES (7,467 ) (5,824 )
NET ASSETS 197,520 259,871

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 1,165 1,165
Retained earnings 196,255 258,606
197,520 259,871

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 director acknowledges his 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.

MIG SECURITY AND EVENTS LIMITED (REGISTERED NUMBER: 05175665)

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 December 2024 and were signed by:





Max Di-Vincenzo - Director


MIG SECURITY AND EVENTS LIMITED (REGISTERED NUMBER: 05175665)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

MIG Security and Events Limited is a private company, limited by shares, registered in England and Wales. The company's 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 the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about MIG Security and Events Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding VAT.

Goodwill
Goodwill is amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates on a straight line basis in order to write off each asset over its estimated useful life:

Plant and machinery25%
Fixtures and fittings25%
Short leasehold10%

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

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.


MIG SECURITY AND EVENTS LIMITED (REGISTERED NUMBER: 05175665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange prevailing at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange prevailing 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.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 177,779
AMORTISATION
At 1 May 2023
and 30 April 2024 177,779
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

MIG SECURITY AND EVENTS LIMITED (REGISTERED NUMBER: 05175665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 36,513 137,411 173,924
Additions 3,650 11,523 15,173
At 30 April 2024 40,163 148,934 189,097
DEPRECIATION
At 1 May 2023 19,538 131,091 150,629
Charge for year 3,231 5,370 8,601
At 30 April 2024 22,769 136,461 159,230
NET BOOK VALUE
At 30 April 2024 17,394 12,473 29,867
At 30 April 2023 16,975 6,320 23,295

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 180
NET BOOK VALUE
At 30 April 2024 180
At 30 April 2023 180

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 336,393 714,980
Amount owed by related party 201,530 201,410
Other debtors 166,717 161,379
704,640 1,077,769

MIG SECURITY AND EVENTS LIMITED (REGISTERED NUMBER: 05175665)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank overdrafts (see note 10) 214,221 436,985
Trade creditors 164,490 249,604
Taxation and social security 144,511 134,511
Other creditors 16,185 11,794
539,407 832,894

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.04.2430.04.23
££
Bank loan12,50022,500
The bank loan is payable by instalments over a period of more than one year.


10. SECURED DEBTS

The bank overdrafts referred to in note 8 are secured by a charge on the freehold property owned by the majority shareholder Marcus Di-Vincenzo.


11. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company was committed to future lease payments of £117,875 (2023: £133,875) for rental of office premises under a lease which expires on 24 June 2029. These commitments included £23,000 (2023: £16,000) to be paid in the year ended 30 April 2025.


12. GOING CONCERN

The financial statements have been prepared on a going concern basis, which is dependent on the ability of MIG Technologies Limited (an associated company) to repay its debt of £201,529. The director believes it is reasonable to take an optimistic view of these conditions, and has no intention to cease trading. Consequently, the going concern basis is reasonable.