IRIS Accounts Production v25.1.3.33 NI702465 director 27.9.23 30.9.24 30.9.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI7024652023-09-26NI7024652024-09-30NI7024652023-09-272024-09-30NI7024652023-09-26NI702465ns15:NorthernIreland2023-09-272024-09-30NI702465ns14:PoundSterling2023-09-272024-09-30NI702465ns10:Director12023-09-272024-09-30NI702465ns10:PrivateLimitedCompanyLtd2023-09-272024-09-30NI702465ns10:SmallEntities2023-09-272024-09-30NI702465ns10:AuditExemptWithAccountantsReport2023-09-272024-09-30NI702465ns10:SmallCompaniesRegimeForDirectorsReport2023-09-272024-09-30NI702465ns10:SmallCompaniesRegimeForAccounts2023-09-272024-09-30NI702465ns10:FullAccounts2023-09-272024-09-30NI70246512023-09-272024-09-30NI702465ns10:RegisteredOffice2023-09-272024-09-30NI702465ns5:CurrentFinancialInstruments2024-09-30NI702465ns5:Non-currentFinancialInstruments2024-09-30NI702465ns5:ShareCapital2024-09-30NI702465ns5:RetainedEarningsAccumulatedLosses2024-09-30NI702465ns5:NetGoodwill2023-09-272024-09-30NI702465ns5:IntangibleAssetsOtherThanGoodwill2023-09-272024-09-30NI702465ns5:NetGoodwill2024-09-30NI702465ns5:PlantMachinery2023-09-272024-09-30NI702465ns5:PlantMachinery2024-09-30NI702465ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-30
REGISTERED NUMBER: NI702465 (Northern Ireland)















MGENG LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

27 SEPTEMBER 2023 TO 30 SEPTEMBER 2024






MGENG LTD (REGISTERED NUMBER: NI702465)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 27 SEPTEMBER 2023 TO 30 SEPTEMBER 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MGENG LTD

COMPANY INFORMATION
FOR THE PERIOD 27 SEPTEMBER 2023 TO 30 SEPTEMBER 2024







DIRECTOR: M P Gartland



REGISTERED OFFICE: 240 Favour Royal Road
Augher
Co. Tyrone
BT77 0EG



REGISTERED NUMBER: NI702465 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
Donegall Square West
BELFAST
BT1 6JS

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MGENG 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 accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the period ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's director that we have done so, and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 30 September 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the period.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.






McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


12 June 2025

MGENG LTD (REGISTERED NUMBER: NI702465)

BALANCE SHEET
30 SEPTEMBER 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 27,000
Tangible assets 5 178,784
205,784

CURRENT ASSETS
Stocks 20,000
Debtors 6 353,357
Cash at bank 24,778
398,135
CREDITORS
Amounts falling due within one year 7 122,841
NET CURRENT ASSETS 275,294
TOTAL ASSETS LESS CURRENT
LIABILITIES

481,078

CREDITORS
Amounts falling due after more than one
year

8

(438,972

)

PROVISIONS FOR LIABILITIES (38,201 )
NET ASSETS 3,905

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 3,805
SHAREHOLDERS' FUNDS 3,905

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

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

MGENG LTD (REGISTERED NUMBER: NI702465)

BALANCE SHEET - continued
30 SEPTEMBER 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 12 June 2025 and were signed by:





M P Gartland - Director


MGENG LTD (REGISTERED NUMBER: NI702465)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 27 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

MGENG Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

The financial statements are prepared in sterling which is the functional currency of the Company.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery - 10% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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.


MGENG LTD (REGISTERED NUMBER: NI702465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 27 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Amounts recoverable on contracts
The amount by which turnover exceeds payments on account on contracts is shown under debtors as amounts recoverable on contracts. Where payments on account exceed turnover the excess is classified as deferred income within creditors. When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 25 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 30,000
At 30 September 2024 30,000
AMORTISATION
Charge for period 3,000
At 30 September 2024 3,000
NET BOOK VALUE
At 30 September 2024 27,000

MGENG LTD (REGISTERED NUMBER: NI702465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 27 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 206,649
Disposals (8,000 )
At 30 September 2024 198,649
DEPRECIATION
Charge for period 19,865
At 30 September 2024 19,865
NET BOOK VALUE
At 30 September 2024 178,784

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 300,228
Amounts recoverable on
contracts 51,632
Other debtors 1,497
353,357

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts 20,250
Trade creditors 6,253
Taxation and social security 57,952
Other creditors 38,386
122,841

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
£   
Hire purchase contracts 52,372
Other creditors 386,600
438,972

MGENG LTD (REGISTERED NUMBER: NI702465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 27 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
£   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan 386,600