IRIS Accounts Production v25.1.0.734 04269241 director 1.9.23 31.8.24 31.8.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042692412023-08-31042692412024-08-31042692412023-09-012024-08-31042692412022-08-31042692412022-09-012023-08-31042692412023-08-3104269241ns15:EnglandWales2023-09-012024-08-3104269241ns14:PoundSterling2023-09-012024-08-3104269241ns10:Director12023-09-012024-08-3104269241ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3104269241ns10:SmallEntities2023-09-012024-08-3104269241ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3104269241ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3104269241ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3104269241ns10:FullAccounts2023-09-012024-08-3104269241ns10:OrdinaryShareClass12023-09-012024-08-3104269241ns5:CurrentFinancialInstruments2024-08-3104269241ns5:CurrentFinancialInstruments2023-08-3104269241ns5:ShareCapital2024-08-3104269241ns5:ShareCapital2023-08-3104269241ns5:RetainedEarningsAccumulatedLosses2024-08-3104269241ns5:RetainedEarningsAccumulatedLosses2023-08-3104269241ns10:RegisteredOffice2023-09-012024-08-3104269241ns5:PlantMachinery2023-09-012024-08-3104269241ns5:MotorVehicles2023-09-012024-08-3104269241ns5:PlantMachinery2024-08-3104269241ns5:MotorVehicles2024-08-3104269241ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3104269241ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3104269241ns10:OrdinaryShareClass12024-08-31042692411ns10:Director12023-08-31042692411ns10:Director12022-08-31042692411ns10:Director12023-09-012024-08-31042692411ns10:Director12022-09-012023-08-31042692411ns10:Director12024-08-31042692411ns10:Director12023-08-31
REGISTERED NUMBER: 04269241 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st August 2024

for

MGB Direct Services Limited

MGB Direct Services Limited (Registered number: 04269241)






Contents of the Financial Statements
for the Year Ended 31st August 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


MGB Direct Services Limited (Registered number: 04269241)

Balance Sheet
31st August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 18,986 26,551

CURRENT ASSETS
Debtors 5 62,099 159,758
Cash at bank 365,159 323,741
427,258 483,499
CREDITORS
Amounts falling due within one year 6 27,622 129,693
NET CURRENT ASSETS 399,636 353,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

418,622

380,357

PROVISIONS FOR LIABILITIES 3,607 5,045
NET ASSETS 415,015 375,312

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 414,915 375,212
SHAREHOLDERS' FUNDS 415,015 375,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th May 2025 and were signed by:





Dr M Bodani - Director


MGB Direct Services Limited (Registered number: 04269241)

Notes to the Financial Statements
for the Year Ended 31st August 2024

1. COMPANY INFORMATION

MGB Direct Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04269241

Registered office: Unit A5
Phoenix Business Centre
Rosslyn Crescent
Harrow
Middlesex
HA1 2SP

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures and Fittings - 25% on cost
Vehicles - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MGB Direct Services Limited (Registered number: 04269241)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st September 2023 10,603 33,695 44,298
Additions 1,858 - 1,858
At 31st August 2024 12,461 33,695 46,156
DEPRECIATION
At 1st September 2023
and 31st August 2024 10,322 16,848 27,170
NET BOOK VALUE
At 31st August 2024 2,139 16,847 18,986
At 31st August 2023 281 16,847 17,128

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 29,899 115,935
Other debtors - 11,623
S455 recoverable 29,250 29,250
Prepayments 2,950 2,950
62,099 159,758

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Corporation tax payable 16,358 53,654
VAT 7,478 19,392
Directors' current accounts 1,219 54,607
Accrued expenses 2,567 2,040
27,622 129,693

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

MGB Direct Services Limited (Registered number: 04269241)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st August 2024 and 31st August 2023:

31.8.24 31.8.23
£    £   
Dr M Bodani
Balance outstanding at start of year (54,607 ) (44,184 )
Amounts advanced 67,180 59,146
Amounts repaid (13,792 ) (69,569 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,219 ) (54,607 )

The loan is repayable on demand and no interest was charged during the year.

9. CONTROL

The ultimate controlling party is Dr M Bodani by virtue of holding 100% of the voting share capital.