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Company Registration No. 12167171 (England and Wales)
MGB Projects Ltd Unaudited accounts for the year ended 31 December 2024
MGB Projects Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,032 
363 
Current assets
Debtors
(143)
4,370 
Cash at bank and in hand
8,695 
13,170 
8,552 
17,540 
Creditors: amounts falling due within one year
(8,591)
(9,873)
Net current (liabilities)/assets
(39)
7,667 
Net assets
993 
8,030 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
992 
8,029 
Shareholders' funds
993 
8,030 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 February 2025 and were signed on its behalf by
J Bishop Director Company Registration No. 12167171
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MGB Projects Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
MGB Projects Ltd is a private company, limited by shares, registered in England and Wales, registration number 12167171. The registered office is C/O Lelliott & Co, Heath Place, Bognor Regis, PO22 9SL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2024
484 
Additions
812 
At 31 December 2024
1,296 
Depreciation
At 1 January 2024
121 
Charge for the year
143 
At 31 December 2024
264 
Net book value
At 31 December 2024
1,032 
At 31 December 2023
363 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
(143)
1,179 
Amounts falling due after more than one year
Other debtors
- 
3,191 
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MGB Projects Ltd Notes to the Accounts for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
6,402 
9,373 
Other creditors
- 
500 
Loans from directors
2,189 
- 
8,591 
9,873 
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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