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REGISTERED NUMBER: SC729915 (Scotland)















Financial Statements

for the Year Ended

30th April 2024

for

MG Fit-Out Ltd

MG Fit-Out Ltd (Registered number: SC729915)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 6

MG Fit-Out Ltd

Company Information
for the Year Ended 30th April 2024







DIRECTOR: G Gillespie





REGISTERED OFFICE: 58 Long Lane
Broughty Ferry
Dundee
DD5 1HH





REGISTERED NUMBER: SC729915 (Scotland)





ACCOUNTANTS: AWH
Chartered Certified Accountants
Fort Street House
63 Fort Street
Broughty Ferry
Dundee
Angus
DD5 2AB

MG Fit-Out Ltd (Registered number: SC729915)

Balance Sheet
30th April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,553 14,320

CURRENT ASSETS
Debtors 5 79,320 55,660
Cash at bank and in hand 13,177 14,814
92,497 70,474
CREDITORS
Amounts falling due within one year 6 32,482 22,679
NET CURRENT ASSETS 60,015 47,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

72,568

62,115

CREDITORS
Amounts falling due after more than one
year

7

6,688

9,363
NET ASSETS 65,880 52,752

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 65,878 52,750
SHAREHOLDERS' FUNDS 65,880 52,752

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

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

MG Fit-Out Ltd (Registered number: SC729915)

Balance Sheet - continued
30th 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 30th January 2025 and were signed by:





G Gillespie - Director


MG Fit-Out Ltd (Registered number: SC729915)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

MG Fit-Out Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and 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 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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on reducing balance

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

MG Fit-Out Ltd (Registered number: SC729915)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st May 2023 1,500 16,000 480 17,980
Additions 491 1,000 - 1,491
At 30th April 2024 1,991 17,000 480 19,471
DEPRECIATION
At 1st May 2023 300 3,200 160 3,660
Charge for year 338 2,760 160 3,258
At 30th April 2024 638 5,960 320 6,918
NET BOOK VALUE
At 30th April 2024 1,353 11,040 160 12,553
At 30th April 2023 1,200 12,800 320 14,320

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 13,461 17,758
Other debtors 65,859 37,902
79,320 55,660

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 2,675 2,675
Trade creditors 625 157
Taxation and social security 28,648 19,154
Other creditors 534 693
32,482 22,679

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 6,688 9,363

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
MG Fit-Out Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MG Fit-Out Ltd for the year ended 30th April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of MG Fit-Out Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MG Fit-Out Ltd and state those matters that we have agreed to state to the director of MG Fit-Out Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that MG Fit-Out Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MG Fit-Out Ltd. You consider that MG Fit-Out Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MG Fit-Out Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






AWH
Chartered Certified Accountants
Fort Street House
63 Fort Street
Broughty Ferry
Dundee
Angus
DD5 2AB


30th January 2025