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REGISTERED NUMBER: 09308735 (England and Wales)











Financial Statements

for the Year Ended 30th November 2024

for

MG ASSOCIATES (UK) LIMITED

MG ASSOCIATES (UK) LIMITED (REGISTERED NUMBER: 09308735)






Contents of the Financial Statements
for the year ended 30th November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MG ASSOCIATES (UK) LIMITED

Company Information
for the year ended 30th November 2024







DIRECTOR: M B Gammon





SECRETARY: Ms A Ward





REGISTERED OFFICE: 13 St Paul's Mews
Dorking
Surrey
RH4 2HP





REGISTERED NUMBER: 09308735 (England and Wales)





ACCOUNTANTS: Cheeld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Street
Redhill
Surrey
RH1 1RJ

MG ASSOCIATES (UK) LIMITED (REGISTERED NUMBER: 09308735)

Balance Sheet
30th November 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 215 845
Investments 5 23,086 -
23,301 845

CURRENT ASSETS
Debtors 6 126,097 105,652
Cash at bank 11,253 25,588
137,350 131,240
CREDITORS
Amounts falling due within one year 7 24,602 7,496
NET CURRENT ASSETS 112,748 123,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,049

124,589

PROVISIONS FOR LIABILITIES 161 161
NET ASSETS 135,888 124,428

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 135,788 124,328
135,888 124,428

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 ASSOCIATES (UK) LIMITED (REGISTERED NUMBER: 09308735)

Balance Sheet - continued
30th November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th May 2025 and were signed by:





M B Gammon - Director


MG ASSOCIATES (UK) LIMITED (REGISTERED NUMBER: 09308735)

Notes to the Financial Statements
for the year ended 30th November 2024

1. STATUTORY INFORMATION

MG Associates (UK) Limited is a private company, limited by shares , registered in England and Wales. 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MG ASSOCIATES (UK) LIMITED (REGISTERED NUMBER: 09308735)

Notes to the Financial Statements - continued
for the year ended 30th November 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st December 2023
and 30th November 2024 2,207 1,014 3,221
DEPRECIATION
At 1st December 2023 1,656 720 2,376
Charge for year 551 79 630
At 30th November 2024 2,207 799 3,006
NET BOOK VALUE
At 30th November 2024 - 215 215
At 30th November 2023 551 294 845

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 23,086
At 30th November 2024 23,086
NET BOOK VALUE
At 30th November 2024 23,086

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 2,900 5,652
Other debtors 23,197 -
26,097 5,652

MG ASSOCIATES (UK) LIMITED (REGISTERED NUMBER: 09308735)

Notes to the Financial Statements - continued
for the year ended 30th November 2024

6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 100,000 100,000

Aggregate amounts 126,097 105,652

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 3,268 5,726
Other creditors 10,000 -
Directors' current accounts 10,218 653
Accrued expenses 1,116 1,117
24,602 7,496

8. RELATED PARTY DISCLOSURES

During the year, the company made a loan of £21,000 to Safegroup Limited and one of £3,256 to Grichan Whitestone Partnership Limited. Mr Gammon is a director of both companies. The company also received a Loan of £10,000 from Ms A Ward, who is secretary in MG Associates (UK) Limited.