REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
M G SAFETY LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
5. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
AMORTISATION |
At 1 May 2023 |
and 30 April 2024 |
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 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is W Rae. |