Acorah Software Products - Accounts Production 16.1.300 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 10736986 Mr M Green iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10736986 2023-04-30 10736986 2024-04-30 10736986 2023-05-01 2024-04-30 10736986 frs-core:CurrentFinancialInstruments 2024-04-30 10736986 frs-core:Non-currentFinancialInstruments 2024-04-30 10736986 frs-core:PlantMachinery 2024-04-30 10736986 frs-core:PlantMachinery 2023-05-01 2024-04-30 10736986 frs-core:PlantMachinery 2023-04-30 10736986 frs-core:RevaluationReserve 2023-05-01 2024-04-30 10736986 frs-core:RevaluationReserve 2024-04-30 10736986 frs-core:ShareCapital 2024-04-30 10736986 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 10736986 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10736986 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 10736986 frs-bus:SmallEntities 2023-05-01 2024-04-30 10736986 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10736986 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10736986 frs-bus:Director1 2023-05-01 2024-04-30 10736986 frs-countries:EnglandWales 2023-05-01 2024-04-30 10736986 2022-04-30 10736986 2023-04-30 10736986 2022-05-01 2023-04-30 10736986 frs-core:CurrentFinancialInstruments 2023-04-30 10736986 frs-core:Non-currentFinancialInstruments 2023-04-30 10736986 frs-core:BetweenOneFiveYears 2023-04-30 10736986 frs-core:WithinOneYear 2023-04-30 10736986 frs-core:RevaluationReserve 2023-04-30 10736986 frs-core:ShareCapital 2023-04-30 10736986 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 10736986
MG Helicopters Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10736986
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 56,730 38,084
56,730 38,084
CURRENT ASSETS
Debtors 5 16,722 19,799
Cash at bank and in hand 31,355 -
48,077 19,799
Creditors: Amounts Falling Due Within One Year 6 (218,032 ) (256,237 )
NET CURRENT ASSETS (LIABILITIES) (169,955 ) (236,438 )
TOTAL ASSETS LESS CURRENT LIABILITIES (113,225 ) (198,354 )
Creditors: Amounts Falling Due After More Than One Year 7 - (98,420 )
NET LIABILITIES (113,225 ) (296,774 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 48,250 -
Profit and Loss Account (161,575 ) (296,874 )
SHAREHOLDERS' FUNDS (113,225) (296,774)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Green
Director
31 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MG Helicopters Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10736986 . The registered office is 2 The Old Estate Yard High Street, East Hendred, Wantage, Oxfordshire, OX12 8JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources in the form of a directors loan to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 12 years straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
Page 3
Page 4
4. Tangible Assets
Plant & Machinery
£
Cost or Valuation
As at 1 May 2023 142,208
Disposals (106,500 )
Revaluation 48,250
As at 30 April 2024 83,958
Depreciation
As at 1 May 2023 104,124
Provided during the period 4,354
Disposals (81,250 )
As at 30 April 2024 27,228
Net Book Value
As at 30 April 2024 56,730
As at 1 May 2023 38,084
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,944 7,146
Prepayments and accrued income 3,778 12,653
16,722 19,799
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 14,767
Trade creditors 2,149 14,114
Bank loans and overdrafts - 19,736
VAT 34,378 1,222
Accruals and deferred income 1,450 1,425
Director's loan account 180,055 204,973
218,032 256,237
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 98,420
- 98,420
Page 4
Page 5
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 14,767
Later than one year and not later than five years - 98,420
- 113,187
- 113,187
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Revaluation Reserve
£
Surplus on revaluation 48,250
As at 30 April 2024 48,250
Page 5